Homework Answers
Formula For Finished Goods is
Finished Goods = Cost of Goods Manufactured - Cost of Goods Sold + Opening Stock
CASE - I
Now we can change the formula for calculating for Opening Stock
Opening Stock = Cost of Goods Sold + Finished Goods - Cost of Goods Manufactured
Opening Stock = $412000 + $93000 - $422000
Opening Stock = $ 83000
CASE - II
Now we can change the formula for calculating for Cost of Goods Sold
Cost of Goods Sold = Opening Stock + Cost of Goods Manufactured - Finished Goods
Cost of Goods Sold = $19000 + $96000 - $6000
Cost of Goods Sold = $109000
CASE - III
Now we can change the formula for calculating for Cost of Goods Manufactured
Cost of Goods Manufactured = Cost of Goods Sold + Finished Goods - Opening Stock
Cost of Goods Manufactured = $315000 + $26000 - $8000
Cost of Goods Manufactured = $333000
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For each case below, find the missing amount. Case I Case II Case III 19,0008,000 Beginning...
For each case below, find the missing amount. Case I Case II Case III Beginning inventory...
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For each case below, find the missing amount. Casel Case III $ 11,000 Beginning inventory of...
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Supply the missing data in the following cases. Each case is independent of the others. (Leave...
Supply the missing data in the following cases. Each case is independent of the others. (Leave no cells blank - be certain to enter "0" wherever required.) Case 1 2 3 1 5,500 $ $ $ $ 7,000 4,000 5,000 6,000 8,000 4 4,000 5,000 10,000 6,000 19,500 3,500 21,000 4,000 5,000 3,500 19,000 25,600 2,000 Direct materials Direct labour Manufacturing overhead Total manufacturing costs Beginning work-in-process inventory Ending work-in-process inventory Cost of goods manufactured Sales Beginning finished goods inventory...
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Your answer is partially correct. Try again Indicate the missing amount for each letter Case 1...
Your answer is partially correct. Try again Indicate the missing amount for each letter Case 1 2 Direct materials used $9,890 3360 (g) $ Direct labor 5,670 8,450 Manufacturing overhead 8,640 5,100 Total manufacturing costs 24200 16,910 Beginning work in process inventory 1,370 9240 (h) Ending work in process inventory 3,750 7740 |(b) Sales revenue 25,110 29960 Sales discounts 2,770 1,990 17,830 22,400 Cost of goods manufactured Beginning finished goods inventory 3,590 4910 (c) Goods available for sale 22,740 25990...
Prepare a condensed cost of goods manufactured schedule for Case 1. Indicate the missing amount. Case...
Prepare a condensed cost of goods manufactured schedule for Case
1.
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Indicate the missing amount for each letter. Case $10,010 5.150 8.660 Direct materials used Direct labor...
Indicate the missing amount for each letter. Case $10,010 5.150 8.660 Direct materials used Direct labor Manufacturing overhead Total manufacturing costs Beginning work in process inventory Ending work in process inventory 8,800 4,280 16.780 1.510 3,630 Sales revenue 25,000 2,820 17,980 Sales discounts Cost of goods manufactured Beginning finished goods inventory Goods available for sale 1,710 22.240 4,250 22,370 Cost of goods sold Ending finished goods inventory Gross profit 3,750 (k) 3,270 7,330 Operating expenses 2.930 Net income 5,770 Prepare...
Supply the missing data in the four cases that follow. Each case is independent of the...
Supply the missing data in the four cases that follow. Each case
is independent of the others:
Supply the missing data in the four cases that follow. Each case is independent of the others: 7300 7.800 2,960 Direct materials Direct labour 1,660 5.400 8,600 21,960 2.480 8.800 20,480 Total manufacturing costs Beginning work in process inventory Ending work in process inventory Cost of goods manufactured 33, (3,500) S 15,560 4,940) S 19,800 S30,600 Income Statement Sales Beginning finished goods inventory...
For each case below, find the missing amount. Casel Case III $ 11,000 Beginning inventory of finished goods Cost of goods manufactured during period Ending inventory of finished goods Cost of goods sold Case Il $ 18,000 98.000 8.000 418,000 95.000 418.000 20.000 319,000 $
Determine the missing amounts in each of the following independent cases. Case A Case B 92,000 Case C 6,000 31,000 196,000 280,000 220,000 271,000 317,000 380,000 580,000 1,120,000 86,000 70,500 96,000 207,000 1,115,000 76,000 121,000 Beginning inventory, raw material Ending inventory, raw material Purchases of raw material Direct material used Direct labor Manufacturing overhead Total manufacturing costs Beginning inventory, work in process Ending inventory, work in process Cost of goods manufactured Beginning inventory, finished goods Cost of goods available for...
Supply the missing data in the following cases. Each case is independent of the others. (Leave no cells blank - be certain to enter "0" wherever required.) Case 1 2 3 1 5,500 $ $ $ $ 7,000 4,000 5,000 6,000 8,000 4 4,000 5,000 10,000 6,000 19,500 3,500 21,000 4,000 5,000 3,500 19,000 25,600 2,000 Direct materials Direct labour Manufacturing overhead Total manufacturing costs Beginning work-in-process inventory Ending work-in-process inventory Cost of goods manufactured Sales Beginning finished goods inventory...
Determine the missing amounts in each of the following independent cases. Case A Case B 66,000 Case C 9,000 18,000 183,000 215,000 155,000 258,000 291,000 315,000 515,000 1,055,000 73,000 64,000 83,000 185,000 1,050,000 63,000 108,000 Beginning inventory, raw material Ending inventory, raw material Purchases of raw material Direct material used Direct labor Manufacturing overhead Total manufacturing costs Beginning inventory, work in process Ending inventory, work in process Cost of goods manufactured Beginning inventory, finished goods Cost of goods available for...
Your answer is partially correct. Try again Indicate the missing amount for each letter Case 1 2 Direct materials used $9,890 3360 (g) $ Direct labor 5,670 8,450 Manufacturing overhead 8,640 5,100 Total manufacturing costs 24200 16,910 Beginning work in process inventory 1,370 9240 (h) Ending work in process inventory 3,750 7740 |(b) Sales revenue 25,110 29960 Sales discounts 2,770 1,990 17,830 22,400 Cost of goods manufactured Beginning finished goods inventory 3,590 4910 (c) Goods available for sale 22,740 25990...
Prepare a condensed cost of goods manufactured schedule for Case
1.
Indicate the missing amount. Case 1 2 Direct materials used Direct labor Manufacturing overhead Total manufacturing costs 9,789 3581 5,162 8,689 8,934 4,450 23640 16,965 Beginning work in process inventory 1,229 8860 Ending work in process inventory Sales revenue Sales discounts Cost of goods manufactured Beginning finished goods inventory Goods available for sale 7373 3,175 25,093 2,947 17,496 3189 33348 1,840 22,650 4,327 20,685 26977 Cost of goods sold...
Indicate the missing amount for each letter. Case $10,010 5.150 8.660 Direct materials used Direct labor Manufacturing overhead Total manufacturing costs Beginning work in process inventory Ending work in process inventory 8,800 4,280 16.780 1.510 3,630 Sales revenue 25,000 2,820 17,980 Sales discounts Cost of goods manufactured Beginning finished goods inventory Goods available for sale 1,710 22.240 4,250 22,370 Cost of goods sold Ending finished goods inventory Gross profit 3,750 (k) 3,270 7,330 Operating expenses 2.930 Net income 5,770 Prepare...
Supply the missing data in the four cases that follow. Each case
is independent of the others:
Supply the missing data in the four cases that follow. Each case is independent of the others: 7300 7.800 2,960 Direct materials Direct labour 1,660 5.400 8,600 21,960 2.480 8.800 20,480 Total manufacturing costs Beginning work in process inventory Ending work in process inventory Cost of goods manufactured 33, (3,500) S 15,560 4,940) S 19,800 S30,600 Income Statement Sales Beginning finished goods inventory...
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