Solved

Dolan Company's Accounting Records Reflect the Following Inventories During 2017, $800,000 of Raw Materials Were Purchased, Direct Labor

Question 108

Multiple Choice

Dolan Company's accounting records reflect the following inventories:  Dec. 31, 2017 Dec. 31, 2016 Raw materials inventory $310,000$260,000 Work in process inventory 300,000160,000 Finished qoods inventory 190,000150,000\begin{array}{lrr}&\text { Dec. 31, } 2017&\text { Dec. 31, } 2016\\\text { Raw materials inventory } & \$ 310,000 & \$ 260,000 \\\text { Work in process inventory } & 300,000 & 160,000 \\\text { Finished qoods inventory } & 190,000 & 150,000\end{array} During 2017, $800,000 of raw materials were purchased, direct labor costs amounted to $670,000, and manufacturing overhead incurred was $640,000. The total raw materials available for use during 2017 for Dolan Company is


A) $1,110,000.
B) $660,000.
C) $750,000.
D) $1,060,000.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents