Cost of Direct Materials Used in Production for a Manufacturing Company Walker Manufacturing Company reported the following materials data for the month ending June 30: Materials purchased $215,500 Materials inventory, June 1 68,000 Materials inventory, June 30 56,700 Determine the cost of direct materials used in production by Walker during the month ended June 30.

Cost of Direct Materials Used in Production for a Manufacturing Company Walker Manufacturing Company reported the following materials data for the month ending June 30: Materials purchased $215,500 Materials inventory, June 1 68,000 Materials inventory, June 30 56,700 Determine the cost of direct materials used in production by Walker during the month ended June 30.

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Concept explainers

Estimation

A new framework of data analysis where the new statistical methods are used for interpreting the results and analyzing the data is known as estimation in statistics.

Question

Cost of Direct Materials Used in Production for a Manufacturing Company
Walker Manufacturing Company reported the following materials data for the month ending June 30:
Materials purchased
$215,500
Materials inventory, June 1
68,000
Materials inventory, June 30
56,700
Determine the cost of direct materials used in production by Walker during the month ended June 30.

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