AutoSave Off HI Document1 A Abdelgader Abdelgader Elgahmi AA File Home Insert Design Layout References Mailings Review View Help O Search Share Comments X Cut LG Copy * Format Painter Calibri (Body) 11 A A Aar to to Evv EEE IT AL AL 1 BI U ab X, X ADA AaBbCcDc AaBbccdc AaBbcc Aabbccc AaB 1 Normal 1 No Spac... Heading 1 Heading 2 Find Replace Select Paste Title Dictate Clipboard Font Paragraph Styles Editing Voice 2-35 Cost of goods purchased, cost of goods sold, and income statement. The following data are for Huang Wong Ping Retail Outlet Stores. The account balances (in thousands) are for 2017 Marketing and advertising costs Merchandise inventory, January 1, 2017 Shipping of merchandise to customers Depreciation on store fixtures Purchases General and administrative costs Merchandise inventory, December 31, 2017 Merchandise freight-in Purchase returns and allowances Purchase discounts Revenues $ 54,300 115,800 5,700 10,420 654,000 74,800 124,200 25,000 32,400 22,600 798,000 1. Compute (a) the cost of goods purchased and (b) the cost of goods sold. 2. Prepare the income statement for 2017. . 2-36 Flow of Inventoriable Costs. Renka's Heaters selected data for October 2017 are presented here in millions): Direct materials inventory 10/1/2017 Direct materials purchased Direct materials used Total manufacturing overhead costs Variable manufacturing overhead costs Total manufacturing costs incurred during October 2017 Work-in-process inventory 10/1/2017 Cost of goods manufactured Finished goods inventory 10/1/2017 Cost of goods sold $ 105 365 385 450 265 1,610 230 1,660 130 1,770 Calculate the following costs: 1. Direct materials inventory 10/31/2017 2. Fixed manufacturing overhead costs for October 2017 3. Direct manufacturing labor costs for October 2017 4. Work-in-process inventory 10/31/2017 5. Cost of finished goods available for sale in October 2017 6. Finished goods inventory 10/31/2017 Page 1 of 1 4 words D English (United Kingdom) C Focus + 77% Type here to search a W ? . :)) ENG 6:58 PM 9/12/2020 6