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

question 90

Essay

Calculate the (a)cost of raw materials used and (b)total manufacturing costs from the following information.
$$\begin{array} { l l } \text { Eeginning Raw Materials Inventory: } & \$ 65,000 \\\text { Ending Raw Materials Inventory: } & 59,000 \\\text { Overhead: } & 38,000 \\\text { Feginning Finished Goods Inventory: } & 28,000 \\\text { Ending Finished Goods Inventory: } & 23,000 \\\text { Oirect Labor: } & 40,000 \\\text { Raw Materizls Purchased: } & 13,000 \\\text { Feginning Work-in-Thocess Inventory: } & 16,000 \\\text { Ending Work-in-Thoceess Inventory: } & 19,000\end{array}$$ a.________
b.________

---

Definitions:

Revenue

the total amount of money received by a company for goods sold or services provided during a certain period.

Marginal Cost

The increase in cost resulting from the production of one additional unit of a product.

Demand Elasticity

The measure of how much the quantity demanded of a good or service changes in response to a change in price, indicating the sensitivity of consumers to price changes.

Coffee Mugs

Drinking vessels, typically made of ceramic, used for serving hot beverages such as coffee.