Question: Using the following information: beginning materials inventory = $50,000; raw materials purchased on account = $20,000; material issued out to the shop floor = $45,000,

Using the following information: beginning materials inventory = $50,000; raw materials purchased on account = $20,000; material issued out to the shop floor = $45,000, what is the ending balance of the Raw Materials Inventory account? O $75,000 O $65,000 O $25,000 O $45,000

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

URGENT!! Using the following information: beginning materials inventory = $50,000; raw materials purchased on account = $20,000; material issued out to the shop floor = $45,000, what is the ending...

It will be very helpful and easy to understand if you follow just like attached Excel screenshot. L ) A A l B | c | D E I F | G l 1_ Chapter 22 Master Budget Direct Labor Budget 2_ 1 Direct Labor...

. February 28 inventory of raw materials is $75,000. Raw materials purchases in March are $625,000 Factory payroll cost in March is $510,000 Overhead costs incurred in March are: Indirect materials,...

Armstrong Helmet Company manufactures a unique model of bicycle helmet. The company began operations December 1, 2013. Its accountant quit the second week of operations, and the company is searching...

10. (g) ARMSTRONG HELMET COMPANY Budgeted Income Statement For the Month Ended December 31, 2006 Sales Cost of goods sold Gross profit Selling and administrative expenses Income from operations...

Their are 4 pictures attached. 1. Product costs are expensed as cost of goods sold: A) when production is complete. B) at the start of production. C) when the related products are sold. D) when the...

A company manufactures guitars. Identify each of the following costs as either a prime cost, a conversion cost, or both. 1. Wood used to build the guitar body. I V; 2. Glue used to bind the guitar...

Miller Safe Way Company The Business Situation Miller Safe Way Company manufactures a unique model of bicycle Headgear. The company began operations December 1, 2013. Its accountant quit the second...

Namaste Company The Business Situation Namaste Company manufactures a unique yoga mat.The company began operations December 1, 2018. Its accountant quit the second week of operations, and the company...

Hi can someone check my work and see where I messed up. It said incomplete but can't figure out where I went wrong. thank you for your help 4 Gold Nest Company of Guandong, China, is a family-owned...

Why do countries with worldwide tax systems give foreign tax credits?

The reaction of NO2 (g) and CO (g) is thought to occur in two steps: Step1 Slow NO2 (g) + NO2 (g) ---> NO (g) + NO3 (g) Step2 Fast NO3 (g) + CO (g) ---> NO2 (g) + CO2 (g) a. Show that the...

Write the following expression without negative exponents and without parentheses. 8 x ^ ( - 2 )

Which of the following is not true regarding the organizational structure? Instead of having a formal hierarchy of authority, a network structure describes the relationships between different...

3. Imagine a communication situation at work or at home where you felt that you were locked (inflexible). Reflect on three alternative strategies that could have led to you becoming more flexible,...

4. In the next communication situation you are in, already think through three different communication strategies, which will make you achieve greater flexibility. Then practice on these as soon as...

2. Now imagine a real situation in your workplace or home situation where someone gives you feedback. a. Did you perceive the feedback as a hidden criticism? b. Did you perceive the feedback as a...