n January the company produced 3,380 units using 13,520 pounds of the direct material and 2,824 direct labor-hours. During the month, the company purchased 14,280 pounds of the direct material at a cost of $35,100.
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Mary's Music Store reported net income of $142,000. Beginning balances in Accounts Receivable and Accounts Payable were $25,500 and $18,500, respectively. Ending balances in these accounts were $30,500 and $12,200, respectively.
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