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Managerial Accounting: The Corners...

7th Edition
Maryanne M. Mowen + 2 others
ISBN: 9781337115773

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BuyFindarrow_forward

Managerial Accounting: The Corners...

7th Edition
Maryanne M. Mowen + 2 others
ISBN: 9781337115773
Textbook Problem
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Direct Materials Used in Production

Morning Smiles Coffee Company manufactures Stoneware French Press coffee makers. On March 1, Morning Smiles had $25,000 of materials in inventory. During the month of March, the company purchased $350,000 of materials. On March 31, materials inventory equaled $40,000.

Required:

Calculate the direct materials used in production for the month of March.

To determine

Compute the amount of direct materials used in March.

Explanation

Direct Materials Used In Production:

Direct materials used in production determine the variance between the amount of materials used for production and the amount of purchased materials.

Use the following formula to calculate direct material used in production:

Direct materials used in production=(Begining inventory of materials+PurchasesEnding inventory of materials)

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