The accounting records of Hobart Industries show the following information for the most recent year ended December 31:
December 31 January 1
Inventory of work in process: $40,000 $18,000
Inventory of finished goods: 60,000 68,000
Direct materials used: 250,000
Direct labor: 120,000
Manufacturing overhead: 145,000
Selling expenses: 135,000
A). Find the amount debited to the work in process inventory account during the year?
B). What is the cost of goods manufactured for the year?
C). What is the cost of goods sold for the year?
D). What are the total manufacturing costs of the year?