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Rubicon Company had a beginning balance in Raw Materials Inventory of $76,000 on November 1 and an ending balance of $58,000 on November 30. During
Rubicon Company had a beginning balance in Raw Materials Inventory of $76,000 on November 1 and an ending balance of $58,000 on November 30. During the month, additional materials purchased totaled $126,000. Rubicon used $24,000 in indirect materials for the month. Required: 1. Prepare a Schedule of Raw Materials Placed in Production for the month of November.
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