From the Following,calculate the Cost of Raw Materials Used,total Manufacturing

question 35

Essay

From the following,calculate the cost of raw materials used,total manufacturing costs and cost of goods manufactured:
$$\begin{array} { l r } \text { Raw Materials Inventory, Sep. } 1 & \$ 10,000 \\\text { Raw Materials Inventory, Sep. } 30 & 6,000 \\\text { Work-in-Process Inventory, Sep. } 1 & 12,000 \\\text { Work-in-Process Inventory, Sep. } 30 & 15,000 \\\text { Raw Materials Purchased } & 25,000 \\\text { Direct Labor } & 20,000 \\\text { Depreciation Expense } & 6,000 \\\text { Factory Utilities } & 4,000\end{array}$$

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Definitions:

Treasury Bills

Treasury Bills (T-Bills) are short-term U.S. government debt obligations with a maturity of one year or less, considered a safe investment due to government backing.

Financial Instruments

Contracts that give rise to a financial asset of one entity and a financial liability or equity instrument of another entity.

Federal Government

A system of government where powers and responsibilities are divided between a national government and smaller administrative divisions.

TIPS

Treasury Inflation-Protected Securities (TIPS) are a form of U.S. Treasury securities designed to help investors protect against inflation, as their principal value adjusts with the inflation rate.