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Data for the cost of direct materials for the month ended March 31, 2022, are as follows: Raw materials inventory, March 1, 2022 Raw materials inventory, March 31, 2022 $88,160 81,200 During March, the company purchased $301,600 of raw materials on account from Sunland Company and $106,720 of raw materials for cash from Carla Vista Company. In addition, $58,000 was paid on the Sunland account balance. (Assume all raw materials used were direct materials.) Compute the cost of direct materials used during March. Cost of direct materials used during March $

Data for the cost of direct materials for the month ended March 31, 2022, are as follows: Raw materials inventory, March 1, 2022 Raw materials inventory, March 31, 2022 $88,160 81,200 During March, the company purchased $301,600 of raw materials on account from Sunland Company and $106,720 of raw materials for cash from Carla Vista Company. In addition, $58,000 was paid on the Sunland account balance. (Assume all raw materials used were direct materials.) Compute the cost of direct materials used during March. Cost of direct materials used during March $

FINANCIAL ACCOUNTING
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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Data for the cost of direct materials for the month ended March 31, 2022, are as follows: Raw materials inventory, March 1, 2022 Raw materials inventory, March 31, 2022 $88,160 81,200 During March, the company purchased $301,600 of raw materials on account from Sunland Company and $106,720 of raw materials for cash from Carla Vista Company. In addition, $58,000 was paid on the Sunland account balance. (Assume all raw materials used were direct materials.) Compute the cost of direct materials used during March. Cost of direct materials used during March $
Transcribed Image Text:Data for the cost of direct materials for the month ended March 31, 2022, are as follows: Raw materials inventory, March 1, 2022 Raw materials inventory, March 31, 2022 $88,160 81,200 During March, the company purchased $301,600 of raw materials on account from Sunland Company and $106,720 of raw materials for cash from Carla Vista Company. In addition, $58,000 was paid on the Sunland account balance. (Assume all raw materials used were direct materials.) Compute the cost of direct materials used during March. Cost of direct materials used during March $
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