Question

Crane Company's accounting records reflect the following inventories: Dec. 31, 2020 Dec. 31, 2019 Raw materials...

Crane Company's accounting records reflect the following inventories:

Dec. 31, 2020 Dec. 31, 2019
Raw materials inventory $210000    $160000   
Work in process inventory 300000    160000   
Finished goods inventory 190000    150000   


During 2020, $700000 of raw materials were purchased, direct labor costs amounted to $670000, and manufacturing overhead incurred was $640000.
The total raw materials available for use during 2020 for Crane Company is

$910000.

$650000.

$860000.

$560000.

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Answer #1

The answer has been presented in the supporting sheet. For detailed answer refer to the supporting sheet.

Answer The correct answer is $ 910000 Total raw material available for use = Beginning raw material + purchases = 210000 +700

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