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Fairfield Companys raw materials inventory transactions for the most recent month are summarized here: Beginning raw materials$ 10,300Purchases of raw materials117,000Raw materials issuedMaterials requisition 144549,500For
Fairfield Companys raw materials inventory transactions for the most recent month are summarized here:
Beginning raw materials$ 10,300Purchases of raw materials117,000Raw materials issuedMaterials requisition 144549,500For Job 101Materials requisition 144631,000For Job 102Materials requisition 144713,000Used on multiple jobsRequired:
- How much of the raw materials cost would be added to the Work in Process Inventory account during the period?
- How much of the raw materials costs would be added to the Manufacturing Overhead account?
- Compute the ending balance in the Raw Materials Inventory account.
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