Question
Zoolander Inc. manufacturers high end fashion accessories and has provided the following data for the latest quarter ended March 31st: Beginning Inventory for Raw Materials
Zoolander Inc. manufacturers high end fashion accessories and has provided the following data for the latest quarter ended March 31st:
Beginning Inventory for Raw Materials | $60,000 | |
Ending Inventory for Raw Materials | $51,600 | |
Beginning Inventory for Work in Process | $87,000 | |
Ending Inventory for Work in Process | $94,000 | |
Beginning Inventory for Finished Goods | $51,000 | |
Ending Inventory for Finished Goods | $58,000 | |
Purchases of Raw Materials | $48,000 | |
Wags paid to assembly line workers | $115,000 | |
Wages paid to factory supervisor | $29,000 | |
Property insurance paid on factory | $5,200 | |
Utilities for the factory | $9,200 | |
Indirect materials used in production | $3,900 | |
Sales Revenue | $525,000 | |
General & Administrative Expenses | $135,000 |
Calculate direct materials used for Zoolander Inc.'s first quarter. (Assume that indirect materials are not included in Raw Materials Inventory.)
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