For the month of May, the balance in Acme Company's raw materials inventory account was $25,500 at the beginning of the month and $47,000 at the end of the month. Raw materials purchases during the month totaled $74,000. During May, Acme incurred $116,500 of manufacturing overhead costs, which included $3,100 of indirect materials. What amount of direct materials was used during the month of May? ○ $74,000 $52,500 O $49,400 O $95,500
For the month of May, the balance in Acme Company's raw materials inventory account was $25,500 at the beginning of the month and $47,000 at the end of the month. Raw materials purchases during the month totaled $74,000. During May, Acme incurred $116,500 of manufacturing overhead costs, which included $3,100 of indirect materials. What amount of direct materials was used during the month of May? ○ $74,000 $52,500 O $49,400 O $95,500
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![For the month of May, the balance in Acme Company's raw materials inventory account was
$25,500 at the beginning of the month and $47,000 at the end of the month. Raw materials
purchases during the month totaled $74,000. During May, Acme incurred $116,500 of
manufacturing overhead costs, which included $3,100 of indirect materials. What amount of
direct materials was used during the month of May?
○ $74,000
$52,500
O $49,400
O $95,500](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F4e81de2f-14d6-4dcb-a25a-d4ea21a9e776%2F05ebab15-8e7c-4dac-9371-46c5e824e36f%2Fpc68tns_processed.jpeg&w=3840&q=75)
Transcribed Image Text:For the month of May, the balance in Acme Company's raw materials inventory account was
$25,500 at the beginning of the month and $47,000 at the end of the month. Raw materials
purchases during the month totaled $74,000. During May, Acme incurred $116,500 of
manufacturing overhead costs, which included $3,100 of indirect materials. What amount of
direct materials was used during the month of May?
○ $74,000
$52,500
O $49,400
O $95,500
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps with 1 images
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Recommended textbooks for you
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
![Horngren's Cost Accounting: A Managerial Emphasis…](https://www.bartleby.com/isbn_cover_images/9780134475585/9780134475585_smallCoverImage.gif)
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
![Intermediate Accounting](https://www.bartleby.com/isbn_cover_images/9781259722660/9781259722660_smallCoverImage.gif)
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
![Financial and Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781259726705/9781259726705_smallCoverImage.gif)
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education