The following information is available for Acme Company for March: Materials purchased during March. $100,000 March...
The following information is available for Acme Company for
March:
| Materials purchased during March. |
$100,000 |
| March 1 Materials inventory |
$ 25,000 |
| March 31 Materials inventory |
$ 12,000 |
| Indirect materials used during March |
$ 23,000 |
What is the cost of direct materials used
in March?
| a. |
$ 90,000 |
|
| b. |
$113,000 |
|
| c. |
$ 64,000 |
|
| d. |
none of these |
|
| e. |
$ 87,000 |
Homework Answers
Ans b) $113,000
| PURCHASES | 100000 |
| ADD: CLOSING INVENTORY | 25000 |
| LESS: OPENING INVENTORY | 12000 |
| Cost of direct materials used | 113000 |
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