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Use the following to answer questions 1-4 . Karmana Corporation for the just completed year. (In thousands)

Sales ................................................................................................ $950 .............

Raw materials inventory, beginning ................................ $10 ............................

Raw materials inventory, ending ................................ $30 .................................

Purchases of raw materials ................................................................ $120 ...........

Direct labor ................................................................ $180 ..................................

Manufacturing overhead ................................................................ $230 .............

. Administrative expenses ................................................................ $100 ..............

Selling expenses ................................................................ $140 ...........................

Work in process inventory, beginning ................................ $70 .........................

Work in process inventory, ending ................................ $40 ..............................

Finished goods inventory, beginning ................................ $100 ...........................

Finished goods inventory, ending ................................ $80

1. The cost of the raw materials used in production during the year (in thousands of dollars) was:

2. The cost of goods manufactured (finished) for the year (in thousands of dollars) was:

3. The cost of goods sold for the year (in thousands of dollars) was:

4. The net operating income for the year (in thousands of dollars) was:

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