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The following information is available for the year ended December 31: Beginning raw materials inventory $21,500 Raw materials purchases 74,000 Ending raw materials inventory 23,000 Office supplies expense 2,400 The amount of raw materials used in production for the year is: $74,900. $72,500. $95,500. $76,400. $70,100.

Respuesta :

TomShelby

Answer:

used in production = 72,500

Explanation:

we use the Inventory identity to solve for used into production

[tex]$Beginning Inventory + Purchase = Ending Inventory + Used[/tex]

21,500 + 74,000 = 23,000 + used

21,500 + 74,000 - 23,000 =  used

used in production = 72,500

The supplies are irrelevant for this calculation

ahmedanis900

Answer:

b. $72,500

Explanation:

Beginning raw materials inventory                          $21,500  

Raw materials purchases                                          $74,000  

The amount of raw materials used in production  $72,500 (21500+74000-23000)  

Ending raw materials inventory                                  $23,000  

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