Question

Bunnell corporation is a manufacturer that uses job-order costing. on january 1, the company's inventory balances were as follows: what is the net operating income for the year?

Answer 1

The answer is $70,000.

Step-by-step explanation:

The answer for requirement 1 is $480000.

The answer of requirement 2 : Raw materials = $40,000

Raw material purchased = $510000

Total raw material available = $550000

Less : raw material = $480000

Raw material , ending balance = $70000.