Michelle Corporation reported the following data for the month of July: Inventories: Beginning Ending Raw materials $ 37,000 $ 35,000 Work in process $ 21,000 $ 27,000 Finished goods $ 37,000 $ 52,000 Additional information: Raw materials purchases $ 71,000 Direct labor cost $ 96,000 Manufacturing overhead cost incurred $ 64,000 Indirect materials included in manufacturing overhead cost incurred $ 10,000 Manufacturing overhead cost applied to Work in Process $ 63,000 Any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold. The direct materials cost for July is: rev: 02_18_2019_QC_CS-159285 Multiple Choice $63,000 $69,000 $73,000 $71,000

$73,000

Explanation:

The computation of the direct material cost is shown below:

As we know that

Direct material cost is

= Opening balance of raw material + purchase made - ending balance of raw material

= $37,000 + $71,000 - $35,000

= $73,000

We simply applied the above formula

Hence, the correct option is third i.e. $73,000

a manufacturer of printed circuit boards uses exponential smoothing with trend to forecast monthly demand of its product. at the end of december, the company wishes to forecast sales for january. the estimate of trend through november has been 200 additional boards sold per month. average sales have been around 1000 units per month. the demand for december was 1100 units. the company uses α = 0.20 and β = 0.10. make a forecast including trend for the month of january.

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