Instructions
Calculate the Cost of Materials Used in Production

question 191

Short Answer

$\begin{array}{l}\text { Lando Company reported the following amounts for } 2016 \text { : }\\\begin{array} { l r l r } \text { Raw materials purchased } & \$ 83,000 & \text { Ending work in process inventory } & \$ 6,300 \\\text { Beginning raw materials inventory } & 5,200 & \text { Manufacturing overhead costs applied } & 36,000 \\\text { Ending raw materials inventory } & 4,500 & \text { Beginning work in process inventory } & 6,100\end{array}\end{array}$ Instructions
Calculate the cost of materials used in production

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Definitions:

Self-Serving Bias

A cognitive bias that involves attributing positive events to one's own character but attributing negative events to external factors, thereby protecting self-esteem.

Attributions

The process by which individuals explain the causes of behavior and events, attributing them to internal dispositions or external situations.

Favorable

Describes something that is advantageous, positive, or beneficial in nature.

Attribution Theory

A concept in psychology that explains how individuals pinpoint the causes of their own and others' behavior.