Question

In: Accounting

Okaboji Manufacturing Company reported the following materials data for the month ending November 30:

Okaboji Manufacturing Company reported the following materials data for the month ending November 30:

Materials purchased $490,900

Materials inventory, November 1 64,900

Materials inventory, November 30 81,300

Determine the cost of direct materials used in production by Okaboji during the month ended november 30

Solutions

Expert Solution

Direct material cost : The cost of the materials used directly in production is known as the direct material cost. It makes up a sizable amount of the finished product's overall cost. For instance, the price of plastic is the primary raw material used to make bottles.

Calculation of cost of direct materials used in production by okaboji during the month ended november 30

Particulars Amount$
Materials inventory,November 1 64,900
Add : materials purchased 490,900
Cost of materials available for sale 555,800
Less : Materials inventory,november 30 81,300
Cost of Direct material used 474,500

Therefore, cost of direct materials used in production by Okaboji Manufacturing Company during the month ended november 30 is $474,500

balaji rao answered 2 years ago
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