Cullumber Company's accounting records reflect the following inventories: Dec. 31, 2022 Raw materials inventory $390000 Work in process inventory 300000 Finished goods inventory 190000 Dec. 31, 2021 $340000 160000 150000 During 2022, $890000 of raw materials were purchased, direct labor costs amounted to $670000, and manufacturing overhead incurred was $640000. (Assume that all raw materials used were direct materials.) The total raw materials available for use during 2022 for Cullumber Company is O $1280000. Ⓒ$750000. O $840000. O $1230000.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Cullumber Company's accounting records reflect the following inventories:
Raw materials inventory
Work in process inventory
Finished goods inventory
O $1280000.
O $750000.
O $840000.
O $1230000.
Dec. 31, 2022
$390000
Save for Later
300000
190000
Dec. 31, 2021
$340000
160000
During 2022, $890000 of raw materials were purchased, direct labor costs amounted to $670000, and manufacturing overhead
incurred was $640000. (Assume that all raw materials used were direct materials.) The total raw materials available for use during
2022 for Cullumber Company is
150000
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Transcribed Image Text:Cullumber Company's accounting records reflect the following inventories: Raw materials inventory Work in process inventory Finished goods inventory O $1280000. O $750000. O $840000. O $1230000. Dec. 31, 2022 $390000 Save for Later 300000 190000 Dec. 31, 2021 $340000 160000 During 2022, $890000 of raw materials were purchased, direct labor costs amounted to $670000, and manufacturing overhead incurred was $640000. (Assume that all raw materials used were direct materials.) The total raw materials available for use during 2022 for Cullumber Company is 150000 Attempts: 0 of 1 used Submit Answer
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