Problem 1.a.: Computation of Direct Material Used. Akari Inc. provided the following information for its raw material inventory account at the end of the current month: Raw Materials (RM) Inventory Accounts $Accounts $ Beginning balance$22,600Direct materials (DM) used? Purchase$88,400Indirect materials used$7,600 Ending Balance$27,200 Required:Compute the missing information for the direct materials used during the current month. Solution:Formula: Beginning RM + RM Purchased = Total RM available for use - Ending RM = RM used - Indirect material used = DM used

The objective of the question is to calculate the amount of direct materials used during the current…

Answered: Problem 1.a.: Computation of Direct…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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Required: If the December 1 balance in the Direct Materials Inventory account was $20,000, the December 31 balance was $22,000, and $130,000 of direct materials were issued to production during December, what was the amount of direct materials purchased during the month? Purchased amount of direct material
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Problem 1.a.: Computation of Direct Material Used.
Akari Inc. provided the following information for its raw material inventory account at the end of the current month:

	Raw Materials (RM) Inventory
	Accounts	$	Accounts	$
	Beginning balance	$22,600	Direct materials (DM) used	?
	Purchase	$88,400	Indirect materials used	$7,600
	Ending Balance	$27,200

Required:	Compute the missing information for the direct materials used during the current month.

Solution:	Formula:
	Beginning RM
	+ RM Purchased
	= Total RM available for use
	- Ending RM
	= RM used
	- Indirect material used
	= DM used