Question
Barry Company manufactures coats. The company accounting records during February show: Factory utilities - $950; Direct materials used in production - $21,650; Direct materials purchased
Barry Company manufactures coats. The company accounting records during February show: Factory utilities - $950; Direct materials used in production - $21,650; Direct materials purchased during the month - $23,000; Direct labor costs - $15,210; Wages paid to workers providing direct labor - $16,100; Depreciation on factory equipment - $1,250; Insurance covering factory facilities - $1,100; Marketing expenses - $4,700; Factory supervisor salary - $3,500; Indirect manufacturing materials used - $1,090; Insurance covering administrative facilities - $2,100; Depreciation on administrative office furnishings - $5,500; Corporate executive salaries - $15,000. If the beginning balance of Raw Materials Inventory in February is $8,500, what is the ending balance of Raw Materials Inventory? Assume only direct materials are added or subtracted from this account. You may ignore supplies and indirect materials.
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