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2 years ago

Chavez Corporation reported the following data for the month of July:

Business

2 answers:

Alchen [17]2 years ago

8 0

Answer:

Direct Material Cost for July=$60,600

Explanation:

The direct materials cost for July is is calculated as:

Raw Material in the beginning=$34000

Additional Raw materials purchases=$69500

Total Raw material Available=Raw Material in the beginning+Additional Raw materials purchases

Total Raw material Available=$34000+$69500

Total Raw material Available=$103500

Ending Raw material=$33500

Raw material used in production=Total Raw material Available-Ending Raw material

Raw material used in production=$103500-$33500

Raw material used in production=$70000

Indirect materials included in manufacturing=$9400

Direct Material Cost=Raw material used in production-Indirect materials included in manufacturing

Direct Material Cost=$70000-$9400

Direct Material Cost=$60,600

soldier1979 [14.2K]2 years ago

3 0

Answer:

The direct materials cost for July is $ 70,000

Explanation:

Direct Materials

Raw Materials Opening Inventory =$ 34,000

Add Purchases Raw Materials = $ 69,500

Less Ending Inventory Raw Materials= $ 33,500

Direct Materials cost available for use = $ 70,000

(Assume all raw materials are direct materials.)

Add Direct Labour = $ 94,500

Add Manufacturing Overheads = $ 53,100 ( 62,500- 9,400)

Opening Work In Process = $ 19,500

Less Ending Work In Process = $ 24,000

Work In Process $ 213,100

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