ment Submission Fol X Chapter 3 Homewerk O ertomheducation.com/hm.tp Q Search Sa

Question

ment Submission Fol X Chapter 3 Homewerk O ertomheducation.com/hm.tp Q Search Save to Pocket Problem 321 T-Account Analysis of Cost Rows [LO3 1,103 5, LO36, I O3 Selected T-accounts of Moore Company are given below for the just completed year Raw Matenials Debits 230,000 Credits Bal. t/t Debits 5,000 120,000 Bal. 12/312 25.000 Work in Process Factory Wages Payable Bal 70.000 185,000 Bal 9,000 20,000 Direct materials 90,00 150.000 240.000 Credits 180,000 Diract labor Ovarhead Bal 12/31 4,000 Bal 12/31 Fnished Goods Cost of Goods Sold Debts Bal 1/1 Debits 40.000 Bal 123 Required 1 Wha was the cost of raw materials put irto production duing the ye O Type here to search F3 FS #6 F7 F9 F10 F1 12PS

Explanation / Answer

The cost of raw materials that are put into production during the year can be known by seeing the amount of direct materials transferred to work in process account.

From the above T-accounts, we can analyse the cost of raw materials put into production during the year as $90,000.

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