I CANT FIND THE ANSWER FOR RAW MATERIALS. I WOULD APPRICIATE IF SOMEONE CAN TELL

Question

I CANT FIND THE ANSWER FOR RAW MATERIALS. I WOULD APPRICIATE IF SOMEONE CAN TELL ME AND ALSO EXPLAIN ME HOW THEY GOT THE ANSWER. THANK YOU!

Problem 2-1A Production costs computed and recorded; reports prepared LO C2, P1, P2, P3, P4 The following information applies to the questions displayed below.] Marcelino Co.'s March 31 inventory of raw materials is $87,000. Raw materials purchases in April are $580,000, and factory payroll cost in April is $378,000. Overhead costs incurred in April are: indirect materials, $54,000; indirect labor, $20,000; factory rent, $33,000; factory utilities, $21,000; and factory equipment depreciation, $59,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $645,000 cash in April. Costs of the three jobs worked on in April follow Job 306 Job 307 Job 308 Balances on March 31 Direct materials Direct labor Applied overhead $ 27,00e 41,900 15,00e 7,500 24,000 12,000 Costs during April Direct materials Direct labor Applied overhead Status on April Finished 30 137,00e 205,000 $115,000 101,000 152,000105,000 Finished (sold) (unsold) process In

Explanation / Answer

Calculate raw material inventory :

So answer is $156000

Beginning raw material 87000 Raw material purchase 580000 Direct material used in production (137000+205000+115000) -457000 Indirect material used in production -54000 Ending raw material $156000

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