During January, its first month of operations, Riverbed Company accumulated the

Question

During January, its first month of operations, Riverbed Company accumulated the following manufacturing costs: raw materials $5,500 on account, factory labor $6,400, and utilities payable $3,100. In January, requisitions of raw materials for production are as follows: Job 1 $920, Job 2 $1,600, Job 3 $720, and general factory use $700. Record raw materials used. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45). Manufacturing Costs Raw Materials Inventory Faory Labor Manufacturing Overhead Work in Process Inventory Beginning balance Direct materials Indirect materials Ending balance

Explanation / Answer

3240

(920+1600+720)

Raw materials inventory factory labor manufacturing overhead work in process inventory Beginning balance 5500 6400 3100 Direct materials (3240)

3240

(920+1600+720)

Indirect materials (700) 700 Ending balance 1560 6400 3800 3240

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