Fairfield Company’s raw materials inventory transactions for the most recent month are summarized here: Beginning raw materials $ 10,000 Purchases of raw materials 113,000 Raw materials issued Materials requisition 1445 49,500 For Job 101 Materials requisition 1446 34,500 For Job 102 Materials requisition 1447 12,000 Used on multiple jobs 1. How much of the raw materials cost would be added to the Work in Process Inventory account during the period? 2. How much of the raw materials costs would be added to the Manufacturing Overhead account? 3. Compute the ending balance in the Raw Materials Inventory account.
