Flow of manufacturing costs
The following data are taken from the accounting records of Ruiz Mfg. Co.:
<i> Please see attachment for table</i>
Compute the following amounts:
a) Direct materials purchased during the period.
e) The overhead application rate, assuming that overhead is applied to production as a percentage of direct labor costs.
<i> Please see attachment for all questions</i>
a) Direct Materials Purchased during the year : End of Year Inv + End of Yr WIP + Direct materials used - Beg Inv - Beg WIP
=20,000+25,000 +20,000 - 17,000 ...
The flows of manufacturing costs are determined. The direct materials of purchases during the periods are provided.