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3 years ago

Cost of Direct Materials Used in Production for a Manufacturing Company

Business

1 answer:

strojnjashka [21]3 years ago

3 0

Answer:

$855,000

Explanation:

The Raw Materials T - Account can be used to determine the cost of direct materials used in production using the missing balance technique as follows :

Raw Materials T - Account

Debit :

Beginning Balance $279,000

Purchases $828,000

Total $1,107,000

Credit :

Ending Balance $252,000

Transferred to Production (<em>Balancing figure</em>) $855,000

Total $1,107,000

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