Question

The following information relates to the manufacturing operations of the Abbra Publishing Company for the year: Beginning Ending Raw materials inventory $ 550,000 $ 613,000 The raw materials used in manufacturing during the year totaled $1,033,000. Raw materials purchased during the year amount to

Answer 1

Answer:

$420,000

Explanation:

Given the following information, Beginning ending raw materials inventory $560,000 $613,000

The raw materials used in manufacturing during the year is totaled $1,033,000

We will use the formula below to calculate raw materials purchased during the year

Raw materials purchases

= Direct materials used in production - Ending inventory

= $1,033,000 - $613,000

= $420,000