Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

22) Home a start-p manufacturing company, had a bookkeeper who let suddenly, nving rather incomplete accounting records for the last month of his enployment You

image text in transcribed
22) Home a start-p manufacturing company, had a bookkeeper who let suddenly, nving rather incomplete accounting records for the last month of his enployment You have been hired to sort out the puzzle Amume Homek raw materials inventory contains only direct materialh ACCT 328 You have the following information available Work in process inventory, Atay 30 Finished goods imentory, May 1 $9300 12,000 13,100 Dinct labour in April Pachases of diect material in May Work in process inventory, May 1 Revenues in May Gross profit in May Direct materials used in May Raw materials inventory, May 30 26,900 3,200 61,000 27,500 31,600 9,800 Manufacturing overhead in May 17,300 Find the following amounts A. Cost of goods sold in May. (6 marks) B. Beginning raw materials inventory. (4 marks C Ending finished goods inventory. (4 marks)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing And Assurance Services

Authors: By David N. Ricchiute

6th Edition

0324024029, 9780324024029

More Books

Students also viewed these Accounting questions

Question

How is the NDAA used to shape defense policies indirectly?

Answered: 1 week ago