Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. you are a new accounting intern at bikesandmore. y

You are a new accounting intern at BikesandMore. Your boss gives you the following information...

80.2K

Verified Solution

Question

Accounting

You are a new accounting intern at BikesandMore. Your boss gives you the following information and asks you to compute the cost of direct materials used (assume that the company's raw materials inventory contains only direct materials).

Purchases of direct materials. . . . . . . . . . . . . .$18,500

Import duties. . . . . . . . . . . . . . . . . . . . . . . . . . .1,600

Freight-in. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .300

Freight-out. . . . . . . . . . . . . . . . . . . . . . . . . . . . .1,500

Ending raw materials inventory. . . . . . . . . . . . .2,100

Beginning raw materials inventory. . . . . . . . .4,700

Bikes and More

Computation of Direct Materials Used

Direct materials used:

Direct materials used

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students