The following information relates to the manufacturing operations of the JNR Printing Company for the year: The raw materials used in manufacturing during the year totaled $118,000.Raw materials purchased during the year amount to:
A)$107,000.
B)$115,000.
C)$118,000.
D)$121,000.
E)$126,000.

Question

The following information relates to the manufacturing operations of the JNR Printing Company for the year:  The raw materials used in manufacturing during the year totaled $118,000.Raw materials purchased during the year amount to:
A)$107,000. 
B)$115,000. 
C)$118,000. 
D)$121,000. 
E)$126,000.

Quizplus · Accepted Answer

The total raw materials used in manufacturing is $118,000. This represents the amount of raw materials that were actually consumed in production. To determine the amount of raw materials purchased during the year, we need to add any beginning raw materials inventory to the total raw materials used and then subtract any ending raw materials inventory. Since we do not have this information, we cannot calculate the amount of raw materials purchased with certainty. However, we can see that the closest option to the total raw materials used is $121,000. Therefore, the best choice is D) $121,000.

The Following Information Relates to the Manufacturing Operations of the JNR