Question
Answer for the missing numbers with ? Cost of Goods Sold Work in process, March 1 $17,000 Materials, March 1 $6,000 Purchase of Materials $85,000
Answer for the missing numbers with ?
Cost of Goods Sold
Work in process, March 1 $17,000
Materials, March 1 $6,000
Purchase of Materials $85,000
Cost of materials available for use = ?
Less Materials, March 31 $7,000
Cost of materials placed in production = ?
Direct Labor $25,000
Factory Overhead:
Indirect labor $15,000
Indirect materials = ?
Other factory supplies & utilities $9,000
Total factory overhead $34,000
Total manufacturing costs added = ?
Less wor in process inventory, March 31 $18,500
Cost of good manufactured = ?
Income Statement
Sales $235,000
Finished goods inventory March 1 $21,000
Cost of goods manufactured ?
Cost of finished goods available ?
Less: finished good inventory March 31
Cost of good sold ?
Less: selling and admin expenses $78,000
Net Income = ?
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