Andrew Industries purchased $165,000 of raw materials on account during the month of March.The beginning Raw Materials Inventory balance was $22,000,and the materials used to complete jobs during the month were $141,000 of direct materials and $13,000 of indirect materials.
-What is the ending Raw Materials Inventory balance for March?
A)$46,000
B)$11,000
C)$33,000
D)$24,000
E)$9,000

Question

Quizplus · Accepted Answer

To find the ending Raw Materials Inventory balance, we need to subtract the materials used during the month from the total materials purchased on account and add the beginning balance.

Ending balance = Beginning balance + Purchases on account - Direct materials used - Indirect materials used

= $22,000 + $165,000 - $141,000 - $13,000

= $33,000

Therefore, the correct answer is C) $33,000.

Andrew Industries Purchased $165,000 of Raw Materials on Account During