acc240 37773 Loren Cody4/3/19 10:55 AM Homework: Lesson 2 Homework Score: 0 of 10 pts P2-43A (similar to) Save 4 of 4 (3 complete) HW Score: 66.08%, 19.82 of 30 pts Question Help Splendid Displays designs and manufactures displays used in mobile devices Serious flooding throughout the region affected Splendid Displays' facilities. Inventory was completely ruined, and the company's computer system, including all accounting records, was destroyed The beginning inventory numbers are as follows: EEB (Click the icon to view beginning inventory numbers.) Requirement Determine the ending inventories of raw materials, work in process, and finished goods. Assume that Raw Materials Inventory contains only direct materials 1 (Click the icon to view additional information.) Start by determining the ending inventory of raw materials by calculating the direct materials used Splendid Displays Calculation of Direct Materials Used For Current Year 1Data Table Beginning raw Plus: Purchases of direct materials Direct materials available for use Less: Ending raw materials inventory materials inventory 98000 .Raw materials, $98,000 Work in process, $225,000 Finished goods, $218,000 He remembers several schedules he learned in college that may help hi started Print Done Choose from any list or enter any number in the input fields and then click Check Answer 2 and manufactures displays used in mobile devices The beginning inventory numbers are as follows: er ul de add More Info Before the disaster recovery specialists clean t controller, is anxious to salvage whatever records she can to support an insurance claim for the destroyed inventory. She is standing in what is left of the Accounting Department wtih Terry Nappert, the cost accountant. he buildings, Kandice Atwood, the company al "I didn't know mud could smell so bad," Terry says. "What should I be looking for?" "Don't worry about beginning inventory numbers," responds Kandice. "We'll get them from last years annual report. We need first-quarter cost data." ve "I was working on the first-quarter results just before the storm hit," Terry says. "Look, my reports still in my desk drawer. But all I can make out is that for the first quarter, material ct forpurchases were $544,000 and that direct labor, manufacturing overhead (other than indirect als$1,498,000, respectively. Wait, and cost of goods available for sale was $1,570,000." materials), and total manufacturing costs to account for were $541,000; $213,000; and ar "Great," says Kandice. "I remember that sales for the period were approximately $2.1 million. Given our gross profit of 30%, that's all you should need." Terry is not sure about that, but decides to see what he can do with this information. Print Done ter