Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

c. Find the Ending Finished Goods Inventory. Before we can determine the missing amount for ending Finished Goods Inventory, we will first need to calculate

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed

c. Find the Ending Finished Goods Inventory. Before we can determine the missing amount for ending Finished Goods Inventory, we will first need to calculate the cost of Goods Manufactured. (Complete all answer boxes. For accounts with a $0 balance, make sure to enter "0" in the appropriate column.) Endine Cinished ronda Ini Total manufacturing costs to account for Total manufacturing costs to account for Cost of goods manufactured Revenues in October ................... $ 27,300 Work in process inventory, October 31 .....$ 1,400 Raw materials inventory, October 31 .....$ 3,700 Direct labor in October .................$ 3,000 Manufacturing overhead in October ....... 6,300 Work in process inventory, October 1 ...... $ Finished goods inventory, October 1 ...... $ 4,100 Direct materials used in October ...............$ 8,700 Gross profit in October ..................$ 12,700 A Direct materials used in Uctober .........$ Gross profit in October ........$ Purchases of direct materials in October ... $ 8,700 12,700 9,500

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

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

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

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

Get Started

Students also viewed these Accounting questions