Purchase Solution

Cost of raw materials used

Not what you're looking for?

Ask Custom Question

The manufacturing operations of Jones Company had the following inventory balances for the month of March:

Inventories March 1 March 31
Raw materials 11,000 14,000
Work in process 4,000 11,000
Finished goods 30,000 27,000

Reference: 2-7

If the company purchased 21,000 of raw materials during March, what was the cost of raw materials used in production?

46,000
32,000
18,000
57,000

Purchase this Solution
Solution Summary

This provides the steps to compute the cost of raw materials used

Purchase this Solution
Free BrainMass Quizzes
Academic Reading and Writing: Critical Thinking

Importance of Critical Thinking

Team Development Strategies

This quiz will assess your knowledge of team-building processes, learning styles, and leadership methods. Team development is essential to creating and maintaining high performing teams.

Paradigms and Frameworks of Management Research

This quiz evaluates your understanding of the paradigm-based and epistimological frameworks of research. It is intended for advanced students.

Marketing Research and Forecasting

The following quiz will assess your ability to identify steps in the marketing research process. Understanding this information will provide fundamental knowledge related to marketing research.

Writing Business Plans

This quiz will test your understanding of how to write good business plans, the usual components of a good plan, purposes, terms, and writing style tips.

View More Free Quizzes
Related BrainMass Solutions

  • Madlock Manufacturing Company

    Total Raw Materials Available for use = Direct Materials Used + Raw Materials Inventory (12/31) = 190,000 + 7,500 = 197,500 Total Raw Materials Available for use = Raw materials inventory (1/1) + Raw Materials to Purchases Raw materials inventory

  • Cost calculations

    e) What were the total Cost of Goods Manufactured for the year? Questions: What was the amount of Raw Materials used for the year?

  • Cost Accounting for Wilson Production

    The cost of raw materials purchased during the year: The problem states that $326 worth of raw materials were used in production, so we know that the total amount of raw materials purchased will be $326 plus or minus the change in raw materials inventory

  • Manufacturing Statement Preparation

    Direct materials used

  • Fundamental Accounting Principles II

    inventory, Dec. 31, 2008 $ 40,000 Raw materials purchases 181,900 Raw materials available for use 221,900 Less: Raw materials inventory, Dec. 31, 2009 44,000 Direct materials used $ 177,900 Direct labor 243,000

  • Flavor Rite Variance Calculations

    ¢ 4,800 lbs. of raw material were purchased for inventory at a cost of $5.60 per pound; â?¢ 1,200 cartons of finished product were produced; â?¢ 4,020 lbs. of raw material were used; â?

  • Cost of Goods Manufactured Statement

    Selling and administrative expenses $422,100 Raw Materials, Beginning $62,900 Raw Materials, Ending $45,345 Work in Process, Beginning $52,984 Work in Process, Ending $58,777 Prepare the Cost of Goods Manufactured Statement in

  • Cost of Goods Manufactured schedule

    purchases $128,000 Raw materials avail for use $139,000 Raw materials inventory $12,000 Direct Materials Used $127,000 Direct Labor $100,000 Manufacturing Overhead Indirect labor $21,000

  • Schedule of Cost of Goods Manufactured

    Lompac Products Schedule of Cost of Goods Manufactured Direct materials: Beginning raw materials inventory $ ____________ Add: Purchases of raw materials ____________ ----------------------------------------

View More Related Solutions