Question
Use the following information to compute the cost of direct materials used for the current year....
Use the following information to compute the cost of direct materials used for the current year. Assume the raw materials inventory account is used only for direct materials. (Assume no indirect materials.) January 1 December 31 $ $ 6, 300 14, 800 10, 800 8,500 9,600 6, 800 Inventories Raw materials inventory Work in process inventory Finished goods inventory Activity during current year Materials purchased Direct labor Factory overhead $135, 500 101,200 41, 100 Cost of Direct Material Used is Computed as:
Answers
Cost of Direct Materials Used is Computed as: Raw materials Inventory, January 1 Add: Materials Purchased Raw materials available for Production Less: Raw materials Inventory, December 31 Cost of Direct materials used $ $ $ $ $ 6,300 135,500 141,800 8,500 133,300
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