Cai Corporation uses a job-order costing system and has provided the following partially completed T-account summary for the past year. Raw Materials Debit Credit Balance 1/1 17,000 Credits ? Debits 97,000 Balance 12/31 30,000 Work In Process Debit Credit Balance 1/1 19,000 Credits 506,000 Direct materials 74,000 Direct labor 13,000 Overhead applied 257,000 Balance 12/31 ? The cost of indirect materials requisitioned for use in production during the year was:

Indirect Materials Used    10,000

Explanation:

Cai Corporation

Raw Materials  Opening balance 17,000

Purchases                                     97,000

Raw Materials Ending Balance    30,000

Raw Materials Used           84,000

Direct Materials Used       74,000

Indirect Materials Used    10,000

The indirect materials are requisitioned from the raw materials inventory but summed under the manufacturing/ factory overhead.

The Total Raw materials requisitioned was $ 84,000 out of which $ 74,000 was direct materials and only $ 10,000 was used as indirect materials.

Work In Process Opening  19,000

Add Direct materials 74,000

Add Direct labor 13,000

Add Overhead applied 257,000

Less  Work In Process Credits 506,000

Ending Work In Process 143,000

The ending Work in Process balance is found out by subtracting the total credits from the total debits .

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