The following information is available for the year ended December 31:

The amount of raw materials used in production for the year is:
A) $76,400.
B) $95,500.
C) $72,500.
D) $74,900.
E) $70,100.

Question

The following information is available for the year ended December 31:

The amount of raw materials used in production for the year is:
A) $76,400. 
B) $95,500. 
C) $72,500. 
D) $74,900. 
E) $70,100.

Quizplus · Accepted Answer

Beginning Raw Materials + Purchases − Ending Raw Materials = Raw Materials Used
$21,500 + $74,000 − $23,000 = $72,500 11eaadfd_cdca_7541_95d8_8f09b23014a9_TB6948_00

The Following Information Is Available for the Year Ended December