Selected financial information for Greek Food Producers is presented in the following table (000s omitted). What was direct materials used?

Question

Selected financial information for Greek Food Producers is presented in the following table (000s omitted).  What was direct materials used?

Quizplus · Accepted Answer

Direct materials used is calculated by subtracting the ending raw materials inventory from the sum of beginning raw materials inventory and raw materials purchased. 
Direct Materials Used = (Beginning Raw Materials Inventory + Raw Materials Purchased) - Ending Raw Materials Inventory 
= ($170 + $950) - $650 
= $470

Selected Financial Information for Greek Food Producers Is Presented in the Following