Slife Corporation has provided the following data concerning its most important raw material, compound G81N: When recording the use of materials in production, Raw Materials would be:
A)debited for $68,558.
B)credited for $83,839.
C)credited for $68,558.
D)debited for $83,839.

Question

Slife Corporation has provided the following data concerning its most important raw material, compound G81N:  When recording the use of materials in production, Raw Materials would be:
A)debited for $68,558. 
B)credited for $83,839. 
C)credited for $68,558. 
D)debited for $83,839.

Quizplus · Accepted Answer

The question states that the data provided is about a raw material, compound G81N. When recording the use of raw materials in production, we debit the Raw Materials account for the cost of the materials used. The data provided mentions that the beginning balance of Compound G81N was $23,281, purchases during the period amounted to $60,277, and the ending balance was $15,000. To calculate the cost of materials used, we need to subtract the ending balance from the sum of beginning balance and purchases, which gives us $68,558. Therefore, Raw Materials would be credited for $68,558.

Slife Corporation Has Provided the Following Data Concerning Its Most