Fairfield company's raw materials inventory transactions for the most recent month are summarized here: beginning raw materials $ 20,000 purchases of raw materials 90,000 raw materials issued materials requisition 1445 25,000 for job 101 materials requisition 1446 35,000 for job 102 materials requisition 1447 30,000 used on multiple jobs 1. How much of the raw materials cost would be added to the work in process inventory account during the period

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Maximo Goodwin

Business

11 February, 11:58

Fairfield company's raw materials inventory transactions for the most recent month are summarized here: beginning raw materials $ 20,000 purchases of raw materials 90,000 raw materials issued materials requisition 1445 25,000 for job 101 materials requisition 1446 35,000 for job 102 materials requisition 1447 30,000 used on multiple jobs 1. How much of the raw materials cost would be added to the work in process inventory account during the period

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Shaun · Answer 1

Calculation of raw materials cost added to the work in process inventory account during the period:

Raw materials issued using materials requisition 1445 for Job 101 = $25,000

Add: Raw materials issued using materials requisition 1446 for Job 102 = $35,000

Add: Materials requisition 1447 used on multiple jobs 1 = $30,000

Total raw materials cost added to the work in process inventory account during the period = $90,000