Homework Answers
Solution:
Calculation of Raw material used
|
Calculation of Direct Materials Used |
|
|
For Current Year |
|
|
Beginning Raw Materials Inventory |
$23,000 |
|
Plus: Purchases of direct materials |
$77,000 |
|
Total Raw materials available for production |
$100,000 |
|
Less: Ending Raw materials inventory |
($32,000) |
|
Direct materials used |
$68,000 |
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