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s:/edugen.wileyplus.com/edugen/Ati/main.uni Return to Blackboard Kimmel, Survey of Accounting. 1e with Job Order Costing Helr I System Announcements ent CALCULATOR PRINTER VERSION 4BACK Multiple Choice Question 102 Sheridan Company's accounting records reflect the following inventories Dec 31.2 201 Des 31 2016 Raw materials inventory $320000 $260000 Work in process inventony 300000 160000 Finished goods inventory190000 150000 During 2017, $810000 of raw materials were purchased, direct labor costs amounted to $670000, and manufacturing overhead incurred was $640000. The total raw materials available for use during 2017 for Sheridan Company is $670000. O $750000 $1070000. $1130000. Click if you would like to Show Work for this question: een Show work Question Attempts: 0 of 1 used SAVE FOR LATER SUBHIT ANS WER Version 4.24.9.3Explanation / Answer
C. $1,070,000
The total raw materials available for use during 2017 for Sheridan Company is:
= Beginning raw materials inventory + Raw materials purchased
= $260,000 + $810,000
= $1,070,000
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