Use the following information to compute the cost of direct materials used for the current year. Assume the raw materials inventory account is used only for direct materials. (Assume no indirect materials.)

January 1 December 31
Inventories Raw materials inventory $7,600 $9,600
Work in process inventory 14,600 9,000
Finished goods inventory 10,500 5,900
Activity during current year

Materials purchased $123,500
Direct labor 96,000
Factory overhead 40,800

The retained earnings account has a credit balance of $24,650 before closing entries are made. if total revenues for the period are $77,700, total expenses are $56,900, and dividends are $13,050, what is the ending balance in the retained earnings account after all closing entries are made?

Luggage world buys briefcases with an invoice date of september 28. the terms of sale are 2/10 eom. what is the net date for this invoice

Problem 8-6 cullumber company is a multi product firm. presented below is information concerning one of its products, the hawkeye. date transaction quantity price/cost 1/1 beginning inventory 2,700 $17 2/4 purchase 3,700 26 2/20 sale 4,200 43 4/2 purchase 4,700 33 11/4 sale 3,900 47 calculate average-cost per unit. (round answer to 4 decimal places, e.g. 2.7613.) average-cost per unit $ link to text compute cost of goods sold, assuming cullumber uses: (round average cost per unit to 4 decimal places, e.g. 2.7631 and final answers to 0 decimal places, e.g. 6,548.) cost of goods sold (a) periodic system, fifo cost flow $ (b) perpetual system, fifo cost flow $ (c) periodic system, lifo cost flow $ (d) perpetual system, lifo cost flow $ (e) periodic system, weighted-average cost flow $ (f) perpetual system, moving-average cost flow $ click if you would like to show work for this question: open show work