Using the following information, compute the direct materials used. Raw materials inventory, January 1 $ 10000 Raw materials inventory, December 30000 31 Work in process, January 1 18000 Work in process, December 31 12000 Finished goods, January 1 40000 Finished goods, December 31 32000 Raw materials purchases 1600000 Direct labor 760000 Factory utilities 150000 Indirect labor 50000 Factory depreciation 400000 Operating expenses 420000 $1640000. O $1610000. $1580000. O $1600000.

Using the following information, compute the direct materials used. Raw materials inventory, January 1 $ 10000 Raw materials inventory, December 30000 31 Work in process, January 1 18000 Work in process, December 31 12000 Finished goods, January 1 40000 Finished goods, December 31 32000 Raw materials purchases 1600000 Direct labor 760000 Factory utilities 150000 Indirect labor 50000 Factory depreciation 400000 Operating expenses 420000 $1640000. O $1610000. $1580000. O $1600000.

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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What is the amount of raw materials used?
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