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

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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
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