Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Attached is the complete Info Preparing financial statements for a manufacturer [25?35 min] Certain item descriptions and amounts are missing from the monthly schedule of

image text in transcribed

Attached is the complete Info Preparing financial statements for a manufacturer [25?35 min] Certain item descriptions and amounts are missing from the monthly schedule of cost of goods manufactured and the income statement of Tioga Manufacturing Company. image text in transcribed

P16-26A 6 Preparing financial statements for a manufacturer [25-35 min] Certain item descriptions and amounts are missing from the monthly schedule of cost of goods manufactured and the income statement of Tioga Manufacturing Company. TIOGA MANUFACTURING COMPANY __________________________________________ ________ June 30, 2012 Beginning ______________ $ 22,000 Direct __________: Beginning direct materials inventory $X Purchase of materials 54,000 ______ $ 80,000 Ending direct materials inventory (23,000 ) Direct ___________ $X Direct ___________ X Manufacturing overhead 43,00 0 Total ______ costs ________ 175,000 Total ______ costs ________ $X Ending __________ (29,000) ________ $X TIOGA MANUFACTURING COMPANY __________________________________________ ________ June 30, 2012 Sales revenue $X Cost of goods sold: Beginning __________ $ 112,000 ______ X Cost of goods ________ $X Ending __________ X Cost of goods sold 217,000 Gross profit $ 283,000 ________ expenses: Marketing expenses $ 94,000 Administrative expenses X ______ income 159,000 $X Requirement 1. Fill in the missing words (___) and amounts (X)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial and Managerial Accounting

Authors: John J Wild, Ken W. Shaw

8th edition

1260247856, 978-1260247855

More Books

Students also viewed these Accounting questions

Question

What does the term homoscedasticity mean?

Answered: 1 week ago

Question

Define Administration?

Answered: 1 week ago