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Mumz [18]
3 years ago
9

Widget Maker Manufacturing uses job costing. In​ May, material requisitions were $ 44 comma 600 ​($ 39 comma 700 of these were d

irect​ materials), and raw material purchases were $ 58 comma 600. The end of month balance in raw materials inventory was $ 24 comma 900. What was the beginning raw materials inventory​ balance?
Business
1 answer:
katen-ka-za [31]3 years ago
7 0

Answer:

The beginning raw materials inventory​ balance is $10,900

Explanation:

In this question, we apply the formula  ending balance of raw material which is shown below:

Ending balance of raw material = Beginning balance of raw material + purchase of material - material requisitions

$24,900 =  Beginning balance of raw material + $58,600 - $44,600

$24,900 = Beginning balance of raw material + $14,000

So, the beginning balance of raw material

= $24,900 - $14,000

= $10,900

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Explanation:

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Find attached word document with complete question.

The first revised statement showed net income $2324000 in the year and $742000 in the prior year.

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Kindly attached spreadsheet showing the three revised income statements as required by the question.

Download docx
<span class="sg-text sg-text--link sg-text--bold sg-text--link-disabled sg-text--blue-dark"> docx </span>
<span class="sg-text sg-text--link sg-text--bold sg-text--link-disabled sg-text--blue-dark"> xlsx </span>
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