ABC Company uses a Materials Inventory account to record both direct and indirect materials. ABC charges direct materials to Work In Process, while indirect materials are charged to the Factory Overhead account. During the month of April, the company has the following cost information: Total materials (direct and indirect) purchased$ 90,000Indirect materials issued to production30,000Total materials issued to production110,000Beginning materials inventory50,000 The amount of direct materials issued is: Multiple Choice $110,000. $30,000. $90,000. $80,000. $50,000.

Given, Beginning inventory = $50,000 Total material {Direct + Indirect} purchased = $90,000 Total…

Answered: ABC Company uses a Materials Inventory…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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ABC Company uses a Materials Inventory account to record both direct and indirect materials. ABC charges direct materials to Work In Process, while indirect materials are charged to the Factory Overhead account. During the month of April, the company has the following cost information:

Total materials (direct and indirect) purchased	$ 90,000
Indirect materials issued to production	30,000
Total materials issued to production	110,000
Beginning materials inventory	50,000

The amount of direct materials issued is:

Multiple Choice

$110,000.
$30,000.
$90,000.
$80,000.
$50,000.

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