An examination of Hyong Corporation's inventory accounts revealed the following information:
Raw materials, June 1: 46,000 units
Raw materials, June 30: 51,000 units
Purchases of raw materials during June: 185,000 units
Hyong's finished product requires four units of raw materials. On the basis of this information, how many finished products were manufactured during June?

Question

Quizplus · Accepted Answer

The number of raw materials used in June is calculated as: (46,000 + 185,000 - 51,000) = 180,000 units. Since each finished product requires 4 units of raw materials, the number of finished products manufactured is 180,000 / 4 = 45,000.

An Examination of Hyong Corporation's Inventory Accounts Revealed the Following