ca_mcq - The following data(in thousands of dollars have...

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The following data (in thousands of dollars) have been taken from the accounting records of Karlana Corporation for the just-completed year. Sales $910 Raw materials, inventory, beginning $80 Raw materials, inventory, ending $20 Purchases of raw materials $100 Direct labor $130 Manufacturing overhead $200 Administrative expenses $160 Selling expenses $140 Work in process inventory, beginning $40 Work in process inventory, ending $10 Finished goods inventory, beginning $130 Finished goods inventory, ending $150 1. The cost of goods sold for the year (in thousands of dollars) was . B. $500. 2. Freeman Company uses a predetermined overhead rate based on direct-labor hours to apply manufacturing overhead to jobs. At the beginning of the year, the company estimated manufacturing overhead would be $150,000 and direct-labor hours would be 10,000. The actual figures for the year were $186,000 for manufacturing overhead and 12,000 direct-labor hours. The cost records for the year will show .
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