Ask Question
BusinessBusiness
11 July, 22:20

As of December 31, 2013, Stand Still Industries had $2,500 of raw materials inventory. At the beginning of 2013, there was $2,000 of materials on hand. During the year, the company purchased $325,000 of materials; however, it paid for only $312,500. How much inventory was requisitioned for use on jobs during 2013? Question 30 options: $312,000 $324,500 $325,500 $313,000

+4
Answers (1)
  1. 12 July, 00:52
    0
    Raw materials inventory requisitioned = $324500

    so correct option is $324,500

    Explanation:

    given data

    raw materials inventory = $2,500

    materials on hand = $2,000

    purchased materials = $325,000

    paid = $312,500

    to find out

    How much inventory was requisitioned

    solution

    we get here Raw materials inventory requisitioned that is express as

    Raw materials inventory requisitioned = materials on hand + purchased materials - raw materials inventory ... 1

    put here value we get

    Raw materials inventory requisitioned = $2000 + $325000 - $2,500

    Raw materials inventory requisitioned = $324500

    so correct option is $324,500
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “As of December 31, 2013, Stand Still Industries had $2,500 of raw materials inventory. At the beginning of 2013, there was $2,000 of ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
If a more efficient technology was discovered by a firm, there would be Multiple Choice a downward shift in the AFC curve. an upward shift in the AFC curve. an upward shift in the AVC curve. a downward shift in the MC curve.
Answers (1)
Shane's Catering began with cash of $10,000. Shane then bought supplies for $2,300 on account. Separately, Shane paid $7,500 for equipment. Answer these questions a. How much in total assets does Shane have? b.
Answers (1)
You are busy restocking shelves when a customer asks you about the price of another item. You do not know the answer. What should you do? (a) Tell the customer it is not your department and to ask someone else.
Answers (2)
W gave w's age as 50 when w purchased a life policy. at the time of w's death seven years later, the company discovered w's true age at issue had been 59.
Answers (2)
Tharaldson Corporation makes a product with the following standard costs: Standard Quantity or Hours Standard Price or Rate Standard Cost Per Unit Direct materials 5.7 ounces $ 2.00 per ounce $ 11.40 Direct labor 0.2 hours $ 11.00 per hour $ 2.
Answers (1)
New Questions in Business
Ryobi Limited sold a set of saws to Ace Hardware. The list price was $3,800. Ryobi offered a chain discount of 8/3/1. What's the net price of the saws
Answers (1)
Marcus is asked by higher management to create a document that provides a high level description of a project that has not yet been approved.
Answers (1)
Which of the following is NOT a standard component of a mail merge? a. a main document b. merged documents c. hyperlinks d. a data source
Answers (1)
Bledsoe Company acquired $17,000 cash by issuing common stock on January 1, Year 1. During Year 1, Bledsoe earned $8,500 of revenue on account.
Answers (1)
How many combinations of 6 different 10th grade subjects can tyler choose from the 9 subjects offered?
Answers (1)
Home » Business » As of December 31, 2013, Stand Still Industries had $2,500 of raw materials inventory. At the beginning of 2013, there was $2,000 of materials on hand. During the year, the company purchased $325,000 of materials; however, it paid for only $312,500.
Sign Up Forgot Password?