High Tech Electronics manufactures and sells a line of radio. Unfortunately, High Tech Electronics suffered serious...
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High Tech Electronics manufactures and sells a line of radio. 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. Data table Cost of goods sold - Revenues in October..... $ 27,800 Work in process inventory, October 31... $ Raw materials inventory, October 31.....$ 3,900 Direct labor in October 3,800 1,800 $ Manufacturing overhead in October ..... $ 6,100 Work in process inventory, October 1.... $ Finished goods inventory, October 1 0 $ 4,200 Direct materials used in October ... Gross profit in October.... $ 8,400 12,100 Purchases of direct materials in October $ 9,300 Print Done High Tech Electronics manufactures and sells a line of radio. 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. Data table Cost of goods sold - Revenues in October..... $ 27,800 Work in process inventory, October 31... $ Raw materials inventory, October 31.....$ 3,900 Direct labor in October 3,800 1,800 $ Manufacturing overhead in October ..... $ 6,100 Work in process inventory, October 1.... $ Finished goods inventory, October 1 0 $ 4,200 Direct materials used in October ... Gross profit in October.... $ 8,400 12,100 Purchases of direct materials in October $ 9,300 Print Done
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