Question
Accounts receivable, January 1, 2020 $70,000 Accounts payable, January 1, 2020 ? Raw materials, January 1, 2020 12,000 Work in process, January 1, 2020 29,000
Accounts receivable, January 1, 2020
$70,000
Accounts payable, January 1, 2020
?
Raw materials, January 1, 2020
12,000
Work in process, January 1, 2020
29,000
Finished goods, January 1, 2020
78,000
Accounts receivable, December 31, 2020
60,000
Accounts payable, December 31, 2020
160,000
Raw materials, December 31, 2020
?
Work in process, December 31, 2020
55,000
Finished goods, December 31, 2020
46,000
Raw materials used in production
70,000
Raw materials purchased
180,000
Accounts receivable collections
?
Accounts payable payments
85,000
Sales
?
Total manufacturing costs
?
Cost of goods manufactured
?
Cost of goods sold
70% of Sales
Gross margin
360,000
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How To Audit The Process Based QMS
Authors: Dennis R. Arter, Charles A. Cianfrani, Jack West
1st Edition
0873895770, 978-0873895774
