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Materials purchases for the month were $4,000. The Materials Inventory account had a beginning balance of $250. Direct Materials used were $3,800, and Indirect Materials used were $300. What is the correct ending balance for the Materials Inventory account?

Materials purchases for the month were $4,000. The Materials Inventory account had a beginning balance of $250. Direct Materials used were $3,800, and Indirect Materials used were $300. What is the correct ending balance for the Materials Inventory account?

Principles of Accounting Volume 2
Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter4: Job Order Costing
Section: Chapter Questions
Problem 4EA: Marzons records show raw materials Inventory had a beginning balance of $200 and an ending balance...
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Materials purchases for the month were $4,000. The Materials Inventory account had a beginning balance of $250. Direct Materials used were $3,800, and Indirect Materials used were $300.

What is the correct ending balance for the Materials Inventory account?

 

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