Question

Current information for the Healey Company follows: Beginning raw materials inventory $ 15,900 Raw material purchases 60,700 Ending raw materials inventory 17,300 Beginning work in process inventory 23,100 Ending work in process inventory 28,700 Direct labor 43,500 Total factory overhead 30,700 All raw materials used were traceable to specific units of product. Healey Company's direct materials used for the year is:

Answer 1

Answer:

$59,300

Explanation:

Calculation to determine what Healey Company's direct materials used for the year is:

Using this formula

Direct materials=Beginning Raw Materials + Raw Materials Purchased - Ending Raw Materials

Let plug in the formula

Direct materials= $15,900 + $60,700 - $17,300 Direct materials=$59,300

Therefore Healey Company's direct materials used for the year is:$59,300