Business, 01.02.2021 20:40 Roquelle6301

Stephenson Company's computer system recently crashed, erasing much of the company's financial data. The following accounting information was discovered soon afterwards on the CFO's back-up computer data. Cost of Goods Sold $380,000
Work-in-Process Inventory, Beginning 30,000
Work-in-Process Inventory, Ending 40,000
Selling and Administrative Expense 50,000
Finished Goods Inventory, Ending 15,000
Finished Goods Inventory, Beginning ?
Direct Materials Purchased 171,000
Factory Overhead Applied 112,000
Operating Income 22,000
Direct Materials Inventory, Beginning 18,000
Direct Materials Inventory, Ending 6,000
Cost of Goods Manufactured 340,000
Direct Labor 55,000

The CFO of Stephenson Company has asked you to recalculate the following accounts and report to him by week's end.

What should be the amount of direct materials used?

a. $208,400
b. $405,500
c. $440,800
d. $201,500

Answers: 2

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Stephenson Company's computer system recently crashed, erasing much of the company's financial data....

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