The following data (in thousands of dollars) have been taken from the acountin

The following data (in thousands of dollars) have been taken from the acounting records of Rayburn Corporation for the current year.

Sales $ 1980

Selling expenses 280

Manufactured overhead 460

Direct Labor 400

Administrative expenses 300

Purchases of raw materials 240

Finished goods inventory beginning 240

Finished goods inventory ending 320

Raw materials inventory beginning 80

Raw materials inventory ending 140

Work in process inventory beginning 140

Work in process inventory ending 100

REQUIRED: (Present all reports in thousands of dollars)

(A.) What was the cost of the raw materials used in production during the year?

(B.) What was the cost of goods manufactured (finished) for the year?

(C.) What was the cost of goods sold for the year?

(D.) What was the net income for the year?