Incomplete manufacturing cost data for Ikerd Company for 2022 are presented as follows for four different situations: 

Instructions 

a. Indicate the missing amount for each letter. 

b. Prepare a condensed cost of goods manufactured schedule for situation (1) for the year ended December 31, 2022.

Transcribed Image Text:

1. 2. 3. 4. Direct Total Materials Labour Manufacturing Manufacturing Used Used Overhead Costs $127,000 (c) 80,000 67,000 $140,000 200,000 100,000 $ 89,000 123,000 (e) 75,000 (a) $430,000 257,000 308,000 Work in Work in Process Cost of Goods Process (1/1) (12/31) Manufactured $33,000 (d) 60,000 45,000 (b) $40,000 80,000 (h) $360,000 470,000 (f) 270,000