What is the cost of raw materials used in production for a company that provided the...
What is the cost of raw materials used in production for a company that provided the following data?
|
Beginning |
Ending |
|
|
Finished Goods Inventory |
$30000 |
$40000 |
|
Work-in-Process Inventory |
$20,000 |
$13000 |
|
Raw Materials Inventory |
$21127 |
$26755 |
|
Purchases of Raw Materials |
$66659 |
|
|
Factory Depreciation |
$5000 |
|
|
Other Factory Costs |
$10000 |
|
|
Direct Labour |
$27000 |
|
|
Indirect Labour |
$6000 |
|
|
Selling Expenses |
$12000 |
|
|
Over-or-underapplied Overhead |
$0 |
|
Homework Answers
| Beginning raw material inventory | $ 21,127 |
| Add: Purchase of raw materials | $ 66,659 |
| Less: Ending raw material inventory | $ (26,755) |
| Raw material used in production | $ 61,031 |
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What is the cost of raw materials used in production for a
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