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27 January, 18:50

Widget Maker Manufacturing uses job costing. In May, material requisitions were $ 44,300 ($ 39,700 of these were direct materials), and raw material purchases were $ 58,100. The end of month balance in raw materials inventory was $ 25,300. What was the beginning raw materials inventory balance?

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  1. 27 January, 21:14
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    Beginning Material = $11,500

    Explanation:

    given data

    material requisitions = $44,300

    direct materials = $39,700

    raw material purchases = $58,100

    end month balance raw materials inventory = $25,300

    to find out

    beginning raw materials inventory balance

    solution

    we know that Beginning Material is express as here

    Beginning Material = Ending Material - Purchases + Requisitions ... 1

    put here value in equation 1 we get

    Beginning Material = Ending Material - Purchases + Requisitions

    Beginning Material = $25,300 - $58,100 + $44,300

    Beginning Material = $11,500
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