Purchase Solution

# Warwick Company - Ending Balance of Raw Materials

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Warwick Company has the following transactions for the month of September.

Purchased materials on account for \$220,384.

Materials requisitioned for \$91,562.

Direct labor for the month was incurred (but not yet paid) of \$69,000.

Actual overhead for the month was \$41,000. It has not been paid yet (Charge to various payables)

Overhead is applied to production at the rate of 65% of direct labor.

Jobs totaling \$42,500 were transferred from Work-in-Process to Finished Goods.

Jobs costing \$23,000 were sold.

Balances at the beginning of the month were:

Materials 22,760

Work-in-Process 0

Finished Goods 10,040

Calculate the Ending Balance of Raw Materials.

a.\$220,384
b.\$151,582
c.\$185,320
d.\$22,760
e.\$91,562.

##### Solution Summary

The solution discusses ending balance of raw materials.

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