Answered step by step
Verified Expert Solution
Question
...
1 Approved Answer
The data related to Macro build company present the following data for the month of August 2018. Direct labor cost $16,000 (160% of factory overhead)
- The data related to Macro build company present the following data for the month of August 2018. Direct labor cost $16,000 (160% of factory overhead) Cost of sales $56,000 Beginning and ending inventory balances of inventory are given below: August 1 August 31 Raw materials $8,000 $8,600 Work-in-progress $8,000 $12,000 Finished goods Other data: $14,000 $18,000 Selling expenses $3,400 General and administrative expenses $2,600 Sales for the month $75,000 Among, the given options, determine the cost of raw material purchased. a. $32,600 b. $36,000 c. $32,000 d. $28,600
Step by Step Solution
There are 3 Steps involved in it
Step: 1
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-text-image.webp)
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Step: 3
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started