Compute the amount of raw materials used during August if $30,000 of raw materials were purchased during the month and the inventories were as follows:

Inventories Balance August 1 Balance August 31

Raw materials $3,500 $3,600

Work in process $12,000 $10,000

Finished goods $18,000 $16,000

Question

Business

Kipper

20 March, 17:40

Compute the amount of raw materials used during August if $30,000 of raw materials were purchased during the month and the inventories were as follows:

Inventories Balance August 1 Balance August 31

Raw materials $3,500 $3,600

Work in process $12,000 $10,000

Finished goods $18,000 $16,000

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Answers (1)

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Yaretzi Harrison · Answer 1

Raw Materials used in production during the month of August equals $29,900

Explanation:

Beginning Raw Materials Inventory (August 1) $3,500

Add: Raw Materials Purchased during

the month of August $30,000

Raw Materials available for use in production $33,500

Less: Ending Raw Materials Inventory (August 31) $ (3,600)

Raw Materials Used in production

during the month of August $29,900

Compute the amount of raw materials used during August if $30,000 of raw materials were purchased during the month and the inventories were as follows:Inventories Balance August 1 Balance August 31Raw materials $3,500 $3,600Work in process $12,000 $10,000Finished goods $18,000 $16,000

Compute the amount of raw materials used during August if $30,000 of raw materials were purchased during the month and the inventories were as follows:

Inventories Balance August 1 Balance August 31

Raw materials $3,500 $3,600

Work in process $12,000 $10,000

Finished goods $18,000 $16,000