Calculate the (A)cost of Raw Materials Used and (B)total Manufacturing

question 18

Short Answer

Calculate the (a)cost of raw materials used and (b)total manufacturing costs from the following information.
$$\begin{array} { l r } \text { Beginuning Raw Materials Inventory: } & \$ 65,000 \\\text { Ending Raw Materials Inventory: } & 59,000 \\\text { Overhead: } & 38,000 \\\text { Beginning Finished Goods Inventory: } & 28,000 \\\text { Ending Finished Goods Inventory: } & 23,000 \\\text { Direct Labor: } & 40,000 \\\text { Raw Materials Purchased: } & 83,000 \\\text { Beginning Work-in-Process Inventory: } & 16,000 \\\text { Ending Work-in-Process Inventory: } & 19,000\end{array}$$
a.________
b.________

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Definitions:

Information-Processing Model

A framework used in cognitive psychology that compares human thought processes to computer processing, involving the coding, storage, and retrieval of information.

Short-Term Memory

Activated memory that holds a few items briefly, such as digits of a phone number while calling, before the information is stored or forgotten.

Sensory Memory

The shortest-term element of memory, it allows individuals to retain impressions of sensory information after the original stimulus has ceased.

Atkinson And Shiffrin

A model of memory proposed by Richard Atkinson and Richard Shiffrin in 1968, describing memory in terms of three stores: sensory memory, short-term memory, and long-term memory.