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A computer virus destroyed some of the accounting records for Hampton Furniture Company for the periods of 2019-2021. The following information was salvaged from the
A computer virus destroyed some of the accounting records for Hampton Furniture Company for the periods of 2019-2021. The following information was salvaged from the computer system.
12/31/19 | 12/31/20 | 12/31/21 | |
---|---|---|---|
Beginning direct materials | $ 50,250 | F | $ 45,210 |
Purchases of direct materials | A | 65,250 | 70,125 |
Ending direct materials | 34,165 | 45,210 | K |
Direct materials used | 91,385 | 54,205 | L |
Direct labor | B | 155,050 | 162,000 |
Manufacturing overhead | 115,325 | G | 127,145 |
Total manufacturing costs | C | 319,255 | 364,130 |
Beginning work-in-process inventory | 36,450 | 21,985 | 29,635 |
Ending work-in-process inventory | 21,985 | 29,635 | M |
Costs of goods manufactured | 386,700 | H | 362,920 |
Beginning finished goods inventory | 37,000 | I | 42,500 |
Ending finished goods inventory | D | 42,500 | 39,550 |
Cost of goods sold | 377,050 | 315,755 | N |
Net sales | 550,000 | 495,000 | O |
Selling and Administrative Expenses | 135,950 | J | 130,130 |
Net income | E | 46,250 | 39,000 |
Required:
Determine the correct amounts for items A through O.
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