Reference no: EM132870056

Problem - Hannah Banana Bakers makes chocolate chip cookies for cafe restaurants. In June, Hannah Banana purchased $15,500 of materials. On June 1, the materials inventory was $3,700. On June 30, $1,600 of materials remained in materials inventory.

What is the cost of the direct materials used in production during June?

Briefly explain why there is a difference between the cost of direct materials that were purchased during the month and the cost of direct materials that were used in production during the month.

Allyson Ashley makes jet skis. During the year, Allyson manufactured 94,000 jet skis. Finished goods inventory had the following units:

How many jet skis did Allyson sell during the year?

If each jet ski had a product cost of $2,200, what was the cost of goods sold last year?