From the list below, select the items that are classified as a materials activity. Select the correct answers. a. Raw materials used b. Raw materials beginning inventory c. Raw materials purchases d. Work in process beginning inventory e. Goods manufactured Direct labor used f. Factor overhead used

A) Raw materials used

B) Raw materials beginning inventory

C) Raw materials purchases

Explanation:

When we are calculating the cost of goods sold, we must calculate total direct   materials used + total direct labor + overhead overhead costs applied.

To calculate how much direct (raw and intermediate) materials are used, we start with our beginning inventory of (raw and intermediate) materials + purchases of (raw and intermediate) materials - ending inventory of raw materials - indirect materials used.

Some industries only calculate raw materials used, but others might include intermediate components in the equation.

Raw Materials beginning inventory and Raw materials purchases

Explanation:

one of the appeals of a sole proprietorship is that business expenses are kept separate from your personal income tax return