Asked by Cianna Rodriguez on Jul 12, 2024
Verified
In the Schedule of Cost of Goods Manufactured, Total raw materials available = Ending raw materials inventory + Purchases of raw materials.
Raw Materials
Basic materials used in the production process to create goods and services.
- Understand the Schedule of Cost of Goods Manufactured and the calculation of total raw materials available.
Verified Answer
RC
Robert CabreraJul 15, 2024
Final Answer :
False
Explanation :
In the Schedule of Cost of Goods Manufactured, Total raw materials available for use is calculated as Beginning raw materials inventory + Purchases of raw materials. Ending raw materials inventory is subtracted from this sum to find the total cost of raw materials used in production.
Learning Objectives
- Understand the Schedule of Cost of Goods Manufactured and the calculation of total raw materials available.
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