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Can someone please help me with part B and C? High Tech Electronics manufactures and sells a line of music. Unfortunately, High Tech Electronics suffered
Can someone please help me with part B and C?
High Tech Electronics manufactures and sells a line of music. Unfortunately, High Tech Electronics suffered serious fire damage at its home office. As a result, the accounting records for October were partially destroyed and completely jumbled. High Tech Electronics has hired you to help figure out the missing pieces of the accounting puzzle. Assume that the Raw Materials Inventory contains only direct materials. (Click the icon to view the amounts.) Requirement Find the following amounts: a. Cost of Goods Sold in October b. Beginning Raw Materials Inventory c. Ending Finished Goods Inventory a. Find the Cost of Goods Sold in October. Determine the cost of Goods Sold in October by completing the following table. Revenues $ 27,600 15,200 Cost of goods sold $ Gross Profit 12,400 b. Find the beginning Raw Materials Inventory. Determine the beginning Raw Materials Inventory by completing the following table. Beginning raw materials inventory Materials available for use i X Data Table Revenues in October... $ 27,600 Work in process inventory, October 31... $ 1,400 Raw materials inventory, October 31 .... $ 3,800 Direct labor in October $ 3,000 Manufacturing overhead in October ..... $ 6,100 Work in process inventory, October 1.... $ 0 Finished goods inventory, October 1 .... $ 4,300 Direct materials used in October ..... . $ 8,600 Gross profit in October ..... $ 12,400 Purchases of direct materials in October $ 9,600 Print DoneStep by Step Solution
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