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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 jobs

Required:

  1. How much of the raw materials cost would be added to the Work in Process Inventory account during the period?
  2. How much of the raw materials costs would be added to the Manufacturing Overhead account?
  3. Compute the ending balance in the Raw Materials Inventory account.

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