At the beginning of the month, AGN Manufacturing had the following information available for the...
Question:
At the beginning of the month, AGN Manufacturing had the following information available for the month of September:
| Beginning | Ending | |
|---|---|---|
| Raw materials inventory | $25,000 | $32,000 |
| Work in process inventory | 60,000 | 85,000 |
| Finished goods inventory | 10,000 | 2,000 |
During the month of September the company purchased $120,000 of raw materials.
Required:
Calculate how much raw material was used in September?
Direct Materials:
In manufacturing industries, direct materials is one of the costs used to arrive at the total product/manufacturing cost. This is computed by adding the beginning inventory and the purchases made during the period less the ending inventory.
Answer and Explanation: 1
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View this answerThe raw materials used in the production during September is $113,000
| Raw materials inventory, beginning | 25,000 |
|---|---|
| Add: Purchases | 120,000 |
| Less... |
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Preparing a Direct Materials Budget
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Chapter 11 / Lesson 6
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Learn about the direct materials budget, direct materials purchases budget, and the direct materials cost formula. Examine the use and application of the formulas.
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