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The Following Data (In Thousands of Dollars) Have Been Taken

Question 41

Multiple Choice

The following data (in thousands of dollars) have been taken from the accounting records of Karling Corporation for the year just ended.
 Sales $990 Raw materials inventory, beginning $40 Raw materials inventory, ending $70 Purchases of raw materials $120 Direct labour $200 Manufacturing overhead $230 Administrative expenses $150 Selling expenses $140 Work-in-process inventory, beginning $70 Work-in-process inventory, ending $50 Finished goods inventory, beginning $120 Finished goods inventory, ending $160\begin{array}{|l|r|}\hline \text { Sales } & \$ 990 \\\hline \text { Raw materials inventory, beginning } & \$ 40 \\\hline \text { Raw materials inventory, ending } & \$ 70 \\\hline \text { Purchases of raw materials } & \$ 120 \\\hline \text { Direct labour } & \$ 200 \\\hline \text { Manufacturing overhead } & \$ 230 \\\hline \text { Administrative expenses } & \$ 150 \\\hline \text { Selling expenses } & \$ 140 \\\hline \text { Work-in-process inventory, beginning } & \$ 70 \\\hline \text { Work-in-process inventory, ending } & \$ 50 \\\hline \text { Finished goods inventory, beginning } & \$ 120 \\\hline \text { Finished goods inventory, ending } & \$ 160 \\\hline\end{array}

-What was the net income (in thousands of dollars) for the year?


A) $150.
B) $200.
C) $490.
D) $250.

Correct Answer:

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