Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Determine the missing amount in each of the following independent cases: find the attached file : DETERMINE THE MISSING AMOUNT IN EACH OF THE FOLLOWING
Determine the missing amount in each of the following independent cases: find the attached file :
DETERMINE THE MISSING AMOUNT IN EACH OF THE FOLLOWING : Case A Beginning inventory, raw material................................. Case B Case C $ $ 15,000 ........... 20,000 30,000 Ending inventory, raw material...................................... 90,000 ........... .......... Purchases of raw material............................................. 100,000 85,000 ........... Direct material used........................................................ 70,000 95,000 Direct labor...................................................................... .......... 100,000 125,000 160,000 340,000 ........... Manufacturing overhead................................................ 250,000 .......... 5,000 Total manufacturing costs............................................. 520,000 345,000 350,000 ........... Beginning inventory, work in process.......................... 35,000 20,000 370,000 Ending inventory, work in process................................ .......... 35,000 Cost of goods manufactured......................................... 525,000 Beginning inventory, finished goods............................ 480,000 50,000 40,000 .......... ...........* ........... Ending inventory, finished goods.................................. ........... .......... 545,000 330,000 Sales................................................................................ ........... Gross margin.................................................................. 255,000 170,000 .......... Selling and administrative expenses............................ Income before taxes....................................................... Income tax expense........................................................ ......... ........... Cost of goods available for sale.................................... Cost of goods sold......................................................... 25,000 ......... 75,000 150,000 .......... 40,000 45,000 ........... 90,000 ..........* 55,000 Net income...................................................................... .........* ...........*Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started