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Bartlow Company has supplied the following information from its accounting records for the month of May: Required: Solve for the missing amounts. (Solve for WIP
Bartlow Company has supplied the following information from its accounting records for the month of May:
Required:
Solve for the missing amounts. (Solve for WIP at 5/1 first, then Gross Margin, then Sales Revenue). Enter all amounts as positive numbers.
Direct labor cost | $11,500 |
Purchases of raw materials | 20,000 |
Factory depreciation | 7,500 |
Advertising | 10,000 |
Factory property taxes | 6,500 |
Materials inventory, 5/1 | 1,250 |
Materials inventory, 5/31 | 2,500 |
Work-in-process Inventory, 5/1 | ? |
Work-in-process Inventory, 5/31 | 1,500 |
Cost of goods manufactured | 45,850 |
Sales revenue | ? |
Executive salary cost | 25,000 |
Finished goods inventory, 5/1 | 5,500 |
Finished goods inventory, 5/31 | 4,250 |
Operating Income | 67,900 |
Gross Margin | ? |
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