Question
XYZ Manufacturing, Inc. provided the following information for the year: PurchasesRaw Materials $90,000 Plant Utilities and Insurance 68,000 Indirect Materials 11,740 Indirect Labor 4,050 Direct
XYZ Manufacturing, Inc. provided the following information for the year:
| PurchasesRaw Materials | $90,000 |
| Plant Utilities and Insurance | 68,000 |
| Indirect Materials | 11,740 |
| Indirect Labor | 4,050 |
| Direct Materials Used in Production | 99,000 |
| Direct Labor | 117,000 |
| Depreciation on Factory Plant & Equipment | 5,000 |
The inventory account balances as of January 1 are given below.
| Raw Materials Inventory | $44,000 |
| Work-in-Progress Inventory | 11,000 |
| Finished Goods Inventory | 49,000 |
What is the ending balance in the Raw Materials Inventory account?
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Auditing The Procurement Function The Iia Research Foundation Handbook Series
Authors: David O Regan, CIA, FCA
1st Edition
0894136224, 978-0894136221
