Fairfield Company’s raw materials inventory transactions for the most recent month are summarized here
| |
|
|
|
| Beginning raw materials |
$ |
10,500 |
|
| Purchases of raw materials |
|
110,000 |
|
| Raw materials issued |
|
|
|
| Materials requisition 1445 |
|
41,000 |
For Job 101 |
| Materials requisition 1446 |
|
34,000 |
For Job 102 |
| Materials requisition 1447 |
|
14,500 |
Used on multiple jobs |
1. How much of the raw materials cost would be added to the Work in Process Inventory account during the period?
Direct Materials:
2. How much of the raw materials costs would be added to the Manufacturing Overhead account?
Indirect Materials:
3. Compute the ending balance in the Raw Materials Inventory account.
Ending Balance:
Fairfield Company's raw materials inventory transactions for the most recent month are summarized here
|
|
|
|
| Beginning raw materials |
$ |
10,500 |
|
| Purchases of raw materials |
|
110,000 |
|
| Raw materials issued |
|
|
|
| Materials requisition 1445 |
|
41,000 |
For Job 101 |
| Materials requisition 1446 |
|
34,000 |
For Job 102 |
| Materials requisition 1447 |
|
14,500 |
Used on multiple jobs |
1. How much of the raw materials cost would be added to the Work in Process Inventory account during the period?
Direct Materials:
2. How much of the raw materials costs would be added to the Manufacturing Overhead account?
Indirect Materials:
3. Compute the ending balance in the Raw Materials Inventory account.
Ending Balance: