How much inventory was requisitioned for use on jobs

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Reference no: EM132021505

1. Not yet answered Marked out of 10.00 Not flagged Flag question Question text As of December 31, 2017, Stand Still Industries had $4,000 of raw materials inventory. At the beginning of 2017, there was $4,500 of materials on hand. During the year, the company purchased $400,000 of materials; it paid for only $300,500. How much inventory was requisitioned for use on jobs during 2017?

a. $399,500 b. $360,200 c. $320,500 d. $363,000

2. Answer saved Marked out of 10.00 Not flaggedFlag question Question text If there were 80,000 pounds of raw materials on hand on January 1, 150,000 pounds are desired for inventory at January 31, and 450,000 pounds are required for January production, how many pounds of raw materials should be purchased in January?

a. 480,000 pounds b. 500,000 pounds c. 510,000 pounds d. 520,000 pounds

3. Not yet answered Marked out of 10.00 Not flaggedFlag question Question text Worth Company reported the following year-end information: Beginning work in process inventory, $200,000; cost of goods manufactured, $875,000; beginning finished goods inventory, $275,000; ending work in process inventory, $230,000; and ending finished goods inventory, $290,000. Worth Company's cost of goods sold for the year is?

a. $825,000 b. $860,000 c. $835,000 d. $850,000 Question 4 Not yet answered Marked out of 10.00 Not flaggedFlag question Question text Ben Godon Inc. manufactures 2 products, wheels and seats.

4. The company has estimated its overhead in the assembly department to be $690,000. The company produces 400,000 wheels and 700,000 seats each year. Each wheel uses 2 parts, and each seat uses 3 parts. How much of the assembly overhead should be allocated to wheels?

a. $155,000 b. $245,000 c. $166,600 d. $285,600

Reference no: EM132021505

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