Landley, Inc.'s materials cost for the month ended March 31, 2006, are as follows: Materials inventory,...
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Landley, Inc.'s materials cost for the month ended March 31, 2006, are as follows: Materials inventory, March 1, 2006 $43,000 41,000 Materials inventory, March 31, 2006 During March, the company purchased $140,000 of raw materials on account from Earle Company and $52,000 of raw materials for cash from Shrink Company. In addition, $100,000 was paid on the Earle account balance. Instructions Compute the cost of direct materials used during March. Landley, Inc.'s materials cost for the month ended March 31, 2006, are as follows: Materials inventory, March 1, 2006 $43,000 41,000 Materials inventory, March 31, 2006 During March, the company purchased $140,000 of raw materials on account from Earle Company and $52,000 of raw materials for cash from Shrink Company. In addition, $100,000 was paid on the Earle account balance. Instructions Compute the cost of direct materials used during March.
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Direct Materials Used Beginning Inventory Purchases Ending Inventory 14000000 5200000 19200000 ... View the full answer
Related Book For
Financial and Managerial Accounting
ISBN: 978-0538480895
11th Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
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