Use the following information to compute the cost of direct materials used for the current year. Assume the raw materials inventory account is used only for direct materials. (Assume no indirect materials.)
Use the following information to compute the cost of direct materials used for the current year. Assume the raw materials inventory account is used only for direct materials. (Assume no indirect materials.)
Chapter4: Job Order Costing
Section: Chapter Questions
Problem 12PA: The following data summarize the operations during the year. Prepare a journal entry for each...
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Use the following information to compute the cost of direct materials used for the current year. Assume the raw materials inventory account is used only for direct materials. (Assume no indirect materials.)
January 1 | December 31 | |||||
Inventories | ||||||
Raw materials inventory | $ | 8,900 | $ | 10,500 | ||
Work in process inventory | 12,800 | 10,800 | ||||
Finished goods inventory | 9,700 | 6,900 | ||||
Activity during current year | ||||||
Materials purchased | $ | 138,500 | ||||
Direct labor | 100,800 | |||||
Factory overhead | 41,700 | |||||
|
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