Fairfield Company's raw materials inventory transactions for the most recent month are summarized here: Beginning raw materials Purchases of raw materials Raw materials issued. Materials requisition 1445 Materials requisition 1446 Materials requisition 1447 1 Direct Materials 2. Indirect Materials 3 Ending Balance 1. How much of the raw materials cost would be added to the Work in Process Inventory account during the period? 2. How much of the raw materials costs would be added to the Manufacturing Overhead account? 3. Compute the ending balance in the Raw Materials Inventory account. S $ 10,700 111,000 S 45,000 For Job 101 31,500 For Job 102 10,000 Used on multiple jobs 76,500 10,000
Fairfield Company's raw materials inventory transactions for the most recent month are summarized here: Beginning raw materials Purchases of raw materials Raw materials issued. Materials requisition 1445 Materials requisition 1446 Materials requisition 1447 1 Direct Materials 2. Indirect Materials 3 Ending Balance 1. How much of the raw materials cost would be added to the Work in Process Inventory account during the period? 2. How much of the raw materials costs would be added to the Manufacturing Overhead account? 3. Compute the ending balance in the Raw Materials Inventory account. S $ 10,700 111,000 S 45,000 For Job 101 31,500 For Job 102 10,000 Used on multiple jobs 76,500 10,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:Fairfield Company's raw materials inventory transactions for the most recent month are summarized here:
Beginning raw materials
Purchases of raw materials
Raw materials issued
Materials requisition 1445
Materials requisition 1446
Materials requisition 1447
1 Direct Materials.
2
Indirect Materials
3 Ending Balance
$ 10,700
111,000
1. How much of the raw materials cost would be added to the Work in Process Inventory account during the period?
2. How much of the raw materials costs would be added to the Manufacturing Overhead account?
3. Compute the ending balance in the Raw Materials Inventory account.
S
S
45,000 For Job 101
31,500 For Job 102
10,000 Used on multiple jobs
76,500
10,000
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