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Walker Manufacturing Company reported the following materials data for the month ending June 30: Materials purchased $967,400 Materials inventory, June 1 272,800 Materials inventory, June 30 217,800 This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answer in the question below. Open spreadsheet Determine the cost of direct materials used in production by Walker during the month ended June 30. Round your answer to the nearest dollar.

Respuesta :

Answer:

Material used in production = $1022400

Explanation:

Material (opening) = 272800

Material purchased = $967400

Material (ending) = 217800.

As we know that:

Material used = material (open) + material purchased- material (end)

                      = 272800+967400 -217800

                     = $1022400.

Answer:

The cost of direct materials used in production by Walker during the month ended June 30 is $ 1,022,400.00  

Explanation:

The movement between the opening and ending balance is as a result of purchases and use. While purchases would increase the account balance, use would decrease the balance.

This is further expressed in the equation below

Opening balance + Purchases - use = closing balance.

Please see the attached spreadsheet for the computation.

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