Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Determine the amounts of the missing items, identifying them by letter. Enter all amounts as positive numbers. for both ON company and OFF company. please

image text in transcribedimage text in transcribed

Determine the amounts of the missing items, identifying them by letter. Enter all amounts as positive numbers. for both ON company and OFF company. please also include how you got each answer.

this attachment includes the missing items from A-F both on ON company and OFF company. The below includes how the answer should be set up.

image text in transcribedimage text in transcribed
On Off Company Company Materials inventory, December 1 $87,980 $120,530 Materials inventory, December 31 (a) 136,200 Materials purchased 223,470 271,190 Cost of direct materials used in production 235,790 (a) Direct labor 331,680 (b) Factory overhead 102,940 134,990 Total manufacturing costs incurred in December (b) 779,830 Total manufacturing costs 839,330 839,330 Work in process inventory, December 1 168,920 290,480 Work in process inventory, December 31 142,530 (c) Cost of goods manufactured (c) 772,600 Finished goods inventory, December 1 148,690 134,990 Finished goods inventory, December 31 155,720 (d) Sales 1,296,830 1,205,300 Cost of goods sold ( D ) 779,830 Gross profit (e) (e) Operating expenses 168,920 (f) Net income (f) 267,5801. Determine the amounts of the missing items, identifying them by letter. Enter all amounts as positive numbers. Letter On Company Off Company a. 311,450 X 255,520 b. 670,410 C. d. e. f

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

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

Get Started

Recommended Textbook for

Accounting Principles

Authors: Paul D Kimmel, Donald E Kieso Jerry J Weygandt

IFRS global edition

1-119-41959-4, 470534796, 9780470534793, 9781119419594 , 978-1119419617

More Books

Students also viewed these Accounting questions

Question

Relax your shoulders

Answered: 1 week ago