Alpine Athletics is trying to determine the amount of direct materials used in production during the current month. Records indicate that the beginning inventory for the direct materials was $67,000 and that, based on a physical count, the ending inventory for the direct materials is $43,000. After contacting the purchasing department, it was noted that three separate purchases of direct materials were made during the month as follows:
a) How much of the direct materials were used in production during the current month?
b) If the beginning inventory for materials was $72,000 and the ending inventory for direct materials was $55,000, what amount of materials was used in production during the month?
Correct Answer:
Verified
View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
Q137: Santaya, Inc. incurred the costs listed below
Q138: Mystique Manufacturing had sales revenue last year
Q139: Regency Records makes vintage vinyl record albums.
Q140: Willow Hearth Winery makes local wines. The
Q141: C & G, Inc. has sales and
Q143: Vinyl Sign Suppliers makes signs for businesses.
Q144: Weston Woodworks has a beginning balance in
Q145: Astro Manufacturing had the following production data
Q146: The account balances are show below for
Q147: Dogs-Are-Us, Inc. has the following information available
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents