Cost of Direct Materials Used in Production for a Manufacturing Company Sepulveda Manufacturing Company reported the following materials data for the month ending November 30: Materials purchased $211,700 Materials inventory, November 1 66,800 Materials inventory, November 30 55,700 Determine the cost of direct materials used in production by Sepulveda during the month ended November 3o.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Question
**Cost of Direct Materials Used in Production for a Manufacturing Company**

Sepulveda Manufacturing Company reported the following materials data for the month ending November 30:

- **Materials purchased**: $211,700
- **Materials inventory, November 1**: 66,800
- **Materials inventory, November 30**: 55,700

Determine the cost of direct materials used in production by Sepulveda during the month ended November 30.

\[ \text{Cost of Direct Materials Used} = \text{Materials purchased} + \text{Materials inventory, November 1} - \text{Materials inventory, November 30} \] 

Place the calculated cost in the box provided. 

**Note:** Ensure all calculations are confirmed for accuracy.
Transcribed Image Text:**Cost of Direct Materials Used in Production for a Manufacturing Company** Sepulveda Manufacturing Company reported the following materials data for the month ending November 30: - **Materials purchased**: $211,700 - **Materials inventory, November 1**: 66,800 - **Materials inventory, November 30**: 55,700 Determine the cost of direct materials used in production by Sepulveda during the month ended November 30. \[ \text{Cost of Direct Materials Used} = \text{Materials purchased} + \text{Materials inventory, November 1} - \text{Materials inventory, November 30} \] Place the calculated cost in the box provided. **Note:** Ensure all calculations are confirmed for accuracy.
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Cost Sheet
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education