Question
The following data should be used for the next few questions: Raw materials inventory, January 1 $ 12,000 Raw materials inventory, December 31 16,000 Work
The following data should be used for the next few questions:
Raw materials inventory, January 1 $ 12,000
Raw materials inventory, December 31 16,000
Work in process, January 1 5,000
Work in process, December 31 8,000
Finished goods, January 1 17,000
Finished goods, December 31 12,000
Raw materials purchases 118,000
Direct labor 165,000
Factory utilities 64,000
Indirect labor 12,000
Factory depreciation 18,000
Selling and administrative expenses 220,000
How much is the cost of the direct materials used?
. How much are total manufacturing costs?
. How much is cost of goods manufactured?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Solution To find the cost of direct materials used we need to subtract the ending raw materials inve...
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Introduction to Operations Research
Authors: Frederick S. Hillier, Gerald J. Lieberman
10th edition
978-0072535105, 72535105, 978-1259162985
