The Hemingway Company uses job costing. In April, material requisitions of $44,000 were issued. Materials purchases...
The Hemingway Company uses job costing. In April, material requisitions of $44,000 were issued. Materials purchases totaled $56,600. The ending balance in raw materials inventory was $18,400. The beginning balance was:
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$25,600.00 |
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$5,800.00 |
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$31,000.00 |
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None of the above. |
Homework Answers
Beginning material + Purchases - Reqisition = Closing Inventory
Beginning material + $56,600 - $44,000 = $18,400
Beginning material = $5,800
2nd option.
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