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(Click the icon to view the amounts.) Sensational Sounds manufactures and sells a new line of radio players. Unfortunately, Sensational Sounds suffered serious fire damage
(Click the icon to view the amounts.) Sensational Sounds manufactures and sells a new line of radio players. Unfortunately, Sensational Sounds suffered serious fire damage at its home office. As a result, the accounting records for October were partially destroyedand completely jumbled. Sensational Sounds has hired you to help figure out the missing pieces of the accounting puzzle. Assume that Sensational Sounds' raw materials inventory contains only direct materials. Requirement Find the following amounts: a. Cost of goods sold in October b. Beginning raw materials inventory c. Ending finished goods inventory Requirement a. Find the cost of goods sold in October. Determine the cost of goods sold in October by completing the following table. (Enter in the known amounts, then determine the missing amounts.) Revenues Cost of goods sold Gross profit - Data Table $ 2,000 4,900 3,300 9,800 0 Work in process inventory, October 31 Finished goods inventory, October 1 Direct labour in October Purchases of direct materials in October . Work in process inventory, October 1 ... Revenues in October .. Gross profit in October.... Direct materials used in October ... Raw materials inventory, October 31 Manufacturing overhead in October 34,000 15,000 8,200 3,800 6,500
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