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Calculate the question marks. Prepare the T-Accounts for raw materials inventory, factory overhead, work in process inventory, and finished goods inventory. The data required by
Calculate the question marks. Prepare the T-Accounts for raw materials inventory, factory overhead, work in process inventory, and finished goods inventory.
The data required by the CFO is indicated by the question marks in the photo:
Direct materials used Direct labour Factory rent $172,455 226,120 5,265 420 6,250 3.350 16.100 15,200 28.100 used Beginning raw materials inventory Ending raw materials inventory Beginning work-in-process inventory Ending work-in-process inventory g finished goods inventory Ending finished goods inventory Sales Sales returns and allowances Net sales Cost of goods manufactured Goods available for sale Cost of goods sold Gross margin Indirect labour Depreciation production equipment Selling expenses Administrative expenses Raw materials purchased Estimated annual overhead Estimated annual direct labour Predetermined overhead rate 49,120 1,140,000 143.800 439,550 494,695 550,625 5,650 16,900 170,975 110,730 39,100 230,000 pry Manufacturing uses normal costing and applies overhead on the basis of direct labor dollars Required: Prepare the data required by the CFO and caleulate the missing data while preparing the T accounts and the required schedule and statements Ending Work in Process Inventory
Beginning Finished Goods Inventory
Net Sales
Cost of Goods Sold
Raw Materials Purchased
Predetermined Overhead Rate
In addition to the T-Accounts for Raw Materials Inventory, Factory Overhead, Work in Process Inventory, and Finished Goods Inventory.
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