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.

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

Section: Chapter Questions

Problem 1Q

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