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Reference: 03-07
the Following Data Are for Potras Company -The Cost of Raw Materials Used in Production Was:
A)$66,000

question 51

Multiple Choice

Reference: 03-07
The following data are for Potras Company:  Beginning  Ending  Finished goods inventory $30,000$40,000 Work in process inventory $20,000$13,000 Raw materials inventory $21,000$26,000 Purchases of raw materials $71,000 Factory depreciation $5,000 Other factory costs $10,000 Direct labour $27,000 Indirect labour $6,000 Selling expense $12,000 Overapplied or underapplied  overhead 0\begin{array} { | l | l | l | } \hline & \text { Beginning } & \text { Ending } \\\hline \text { Finished goods inventory } & \$ 30,000 & \$ 40,000 \\\hline \text { Work in process inventory } & \$ 20,000 & \$ 13,000 \\\hline \text { Raw materials inventory } & \$ 21,000 & \$ 26,000 \\\hline \text { Purchases of raw materials } & \$ 71,000 & \\\hline \text { Factory depreciation } & \$ 5,000 & \\\hline \text { Other factory costs } & \$ 10,000 & \\\hline \text { Direct labour } & \$ 27,000 & \\\hline \text { Indirect labour } & \$ 6,000 & \\\hline \text { Selling expense } & \$ 12,000 & \\\hline \begin{array} { l } \text { Overapplied or underapplied } \\\text { overhead }\end{array} & - 0 - & \\\hline\end{array}
-The cost of raw materials used in production was:

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Definitions:

Basic Needs

Fundamental requirements necessary for maintaining human life and health, such as food, water, shelter, and clothing.

Change Culture

The process of transforming the set of shared attitudes, values, goals, and practices that characterizes an organization or group.

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A strategy that involves using the resources, strengths, and capacities of a community to address its challenges.

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Careers that focus on improving the well-being of others, including social work, counseling, and healthcare.

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