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At the end of February, after the second month of operations of Able Baker Chanlie Company, Charies shows you the data he's collected, but he
At the end of February, after the second month of operations of Able Baker Chanlie Company, Charies shows you the data he's collected, but he was unable to figure out some of the amounts. Review the following data and filw in the missing anounts on the chart for Abie Baker Charve Company. Note: It may be helpfui to use Taccounts to map the fiow of the amounts through the manufacturing accounts and solve for the missing dolar values It may also be heipful to review the steps for determining the cost of materials used, total manufacturing cost incurred, and cost of goods manufactured. Data for February Decrease in materials inventory Materials inventory on Feb. 28 Direct materials purchased Direct materials used Total manufacturing costs incurred in period Total manufacturing costs incurred in period Total manufacturing costs incurred in period $3,600 50% of materials inventory on Jan. 31 S11,700 3 times the direct labor incurred S27,300 70% of Cost of Goods Manufactured $8,000 less than Cost of Goods Sold Account Balances Account Jan. 31 Feb. 28 Costs Incurred Materials Inventory $7,200 $3,600 Direct Materials Used Direct Labor Incurred Factory Overhead Incurred Cost of Goods Sold $15,300 5,100 6,900 21,000 9,300 ento 16,500
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