Question
1. Expert Manufacturing reported the following: Revenue $460,000 Beginning inventory of direct materials, January 1, 2019 30,000 Purchases of direct materials 15,800 Ending inventory of
1. Expert Manufacturing reported the following:
| Revenue $460,000 |
| Beginning inventory of direct materials, January 1, 2019 30,000 |
| Purchases of direct materials 15,800 |
| Ending inventory of direct materials, December 31, 2019 16,000 |
| Direct manufacturing labor 26,000 |
| Indirect manufacturing costs 42,000 |
| Beginning inventory of finished goods, January 1, 2019 45,000 |
| Cost of goods manufactured 97,800 |
| Ending inventory of finished goods, December 31, 2019 41,000 |
| Operating costs 158,000 |
Required:
What is Expert's net profit?
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Intermediate Accounting
Authors: Donald E. Kieso, Jerry J. Weygandt, And Terry D. Warfield
13th Edition
9780470374948, 470423684, 470374942, 978-0470423684
