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Roprin Corp. accounting records reflect the following inventories: Raw material inventory for Dec 31, 2007 $260,000...

Roprin Corp. accounting records reflect the following inventories: Raw material inventory for Dec 31, 2007 $260,000 Raw material inventory for Dec 31, 2008 $310,000 WIP Inventory for Dec 31, 2007 $160,000 WIP Inventory for Dec 31, 2008 $300,000 Finished Goods inventory for Dec 31, 2007 $150,000 Finished Goods inventory for Dec 31, 2008 $190,000 During 2008, $500,000 of raw materials were purchased, direct labor costs amounted to $600,000, and manufacturing overhead incurred was $480,000. The total raw materials available for use during 2008 for Roprin Corp. is?

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Answer #1

Raw materials inventory Dec. 31, 2007 = $260,000

Raw materials were purchased = $500,000

Raw materials available for use = Raw materials inventory Dec. 31, 2007+ Raw materials were purchased

= 260,000+500,000

= $760,000

The total raw materials available for use during 2008 for Roprin Corp. is $760,000

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