Using the information below, compute the raw materials inventory turnover: Raw Materials Used $121,600 Beginning Raw Materials Inventory 18,000 Ending Raw Materials Inventory 20,200 a. 6.76. b. 6.02. c. 54. d. 60.6. e. 6.37.
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- Using the information below, compute the raw materials inventory turnover: Raw materials used $ 161,600 Beginning raw materials inventory 20,000 Ending raw materials inventory 22,200What is the amount of raw materials used?Given the following data: Beginning raw materials inventory $30,000 Materials purchased 65,000 Ending raw materials inventory 40,000 What is the amount of raw materials used? a.$75,000 b.$55,000 c.$5,000 d.$30,000
- Assume the following: Purchases of raw materials $ 38,000 Indirect materials used in production $ 6,000 Beginning raw materials inventory $ 10,000 Ending raw materials inventory $ 14,000 What is the direct materials used in production?Assume the following: Purchases of raw materials $ 38,000 Beginning raw materials inventory $ 10,000 Ending raw materials inventory $ 14,000 Direct materials used in production $ 29,000 What was the amount of indirect materials used in production?Problem 7: Cost of Production Report Helen Company uses FIFO process costing. Data are as follows: Beginning inventory 40% complete Units completed during period Ending inventory 70% complete 25,000 units 500,000 units 45,000 units
- Analyze T-accounts given below: Raw material inventory Balance $15 Purchased $245 Used Balance $30 Work-in-progress inventory $30 Cost of goods $245 manufactured S310 Balance Direct material $540 Direct labor Manufacturing overhead $130 Balance $40 Amount of indirect material used is: a. $230 b. $110 c. $120 d. $340Concord Corporation's accounting records reflect the following inventories: Raw materials inventory Work in process inventory Finished goods inventory. Dec. 31, 2020 O $2190700 O $2110700 Ⓒ$2260700. O $2010700 $310000 300000 190000 Dec. 31, 2019. $260000 160000 150000 During 2020, $920000 of raw materials were purchased, direct labor costs amounted to $684700, and manufacturing overhead incurred was $736000. If Concord Corporation's cost of goods manufactured for 2020 amounted to $2150700, its cost of goods sold for the year isSheridan Company's accounting records reflect the following inventories: Raw materials inventory Work in process inventory Finished goods inventory Dec. 31, 2022 O $2120000. O $1980000. O $2080000. O $2170000. $360000 300000 190000 Dec. 31, 2021 $310000 160000 150000 During 2022, $860000 of raw materials were purchased, direct labor costs amounted to $670000, and manufacturing overhead incurred was $640000. (Assume that all raw materials used were direct materials.) Sheridan Company's total manufacturing costs incurred in 2022 amounted to
- Need answer please provide correct answer with definitionCullumber Company's accounting records reflect the following inventories: Raw materials inventory Work in process inventory Finished goods inventory O $1280000. O $750000. O $840000. O $1230000. Dec. 31, 2022 $390000 Save for Later 300000 190000 Dec. 31, 2021 $340000 160000 During 2022, $890000 of raw materials were purchased, direct labor costs amounted to $670000, and manufacturing overhead incurred was $640000. (Assume that all raw materials used were direct materials.) The total raw materials available for use during 2022 for Cullumber Company is 150000 Attempts: 0 of 1 used Submit AnswerCalculate the ending work in process inventory?