Tisdale Company started the year with the following beginning account balances: Raw Materials Inventory, $42,000; Work in Process Inventory, $90,000; and Finished Goods Inventory, $20,000.During the year, the company purchased $60,000 of raw materials and ended the year with $16,000 of raw materials. Direct labor costs for the year were $120,000, and a total of $36,000 of manufacturing overhead costs were allocated to work in process. There was no over- or underapplied overhead. Ending work in process was $82,000 and ending finished goods was $35,000. Goods were sold to customers during the year for $360,000. How much gross margin would be reported for the year?
A. $171,000
B. $145,000
C. $110,000
D. $125,000
Answer: D
Business
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