Okoboji Manufacturing Company reported the following materials data for the month ending November 30:
|Materials inventory, November 1||67,600|
|Materials inventory, November 30||56,300|
Determine the cost of direct materials used in production by Okoboji during the month ended November 30.
Answer and Explanation:
The cost of direct materials used in production by Okoboji during the month ended November 30 is $225,200.
Okoboji Manufacturing Company reported that:
- Materials purchased = $213,900
- Materials inventory, November 1 (Beginning) = $67,600
- Materials inventory, November 30 (Ending) = $56,300
Direct materials used in production = Beginning Materials inventory + Materials purchased - Ending Materials inventory
Direct materials used in production = $67,600 + $213,900 - $56,300
Direct materials used in production = $225,200
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from Financial Accounting: Tutoring SolutionChapter 2 / Lesson 13
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