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Caldwell Company has provided the following inventory balanc…

Posted byAnonymous May 12, 2025May 12, 2025

Questions

Cаldwell Cоmpаny hаs prоvided the fоllowing inventory balances and manufacturing cost data for the month of January:   Inventories January 1 January 31 Direct materials $30,000 $40,000 Work in process $15,000 $20,000 Finished goods $65,000 $50,000   Month of January   Cost of goods manufactured $515,000 Manufacturing overhead applied $150,000 Direct materials used $190,000 Actual manufacturing overhead $144,000   Under Caldwell's job-order costing system, any over or under-applied overhead is closed  to the Cost of Goods Sold account at the end of the calendar year (i.e., December 31).   What was the total amount of direct material purchases during January?

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Tags: Accounting, Basic, qmb,

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