as of december 31, 2012, stand still industries had $2,500 of raw materials inventory. at the beginning of 2012, there was $2,000 of materials on hand. during the year, the company purchased $325,000 of materials; however, it paid for only $312,500. how much inventory was requisitioned for use on jobs during 2012?

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25-10-2022
Business

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as of december 31, 2012, stand still industries had $2,500 of raw materials inventory. at the beginning of 2012, there was $2,000 of materials on hand. during the year, the company purchased $325,000 of materials; however, it paid for only $312,500. how much inventory was requisitioned for use on jobs during 2012?

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abhinavjh321 abhinavjh321 · Answer 1 · 2022-11-04T03:42:17-04:00

Stand Still Industries had raw material inventory worth $2,500 as of December 31, 2012. $2,000 worth of materials on hand at the start of 2012. The business spent $325,000 on materials course of the year.

A collective of profitable businesses or establishments that create or provide products, services, or sources of income. Industries are typically categorized in economics as primary, secondary, tertiary, and quaternary; secondary industries are additionally categorized as heavy and light. Agriculture, forestry, fishing, mining, quarrying, and mineral exploitation all fall under this category of a nation's economy.

It can be divided into two categories: extractive industry and genetic industry. The former includes the production of exhaustible raw materials that cannot be increased through cultivation and the latter includes the production of raw materials that can be increased by human intervention in the production process.

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