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I ' m not sure if my answers are right so far, but I need help. High Tech Electronics manufactures and sells a line of
Im not sure if my answers are right so far, but I need help.
High Tech Electronics manufactures and sells a line of smartphones. Unfortunately, High Tech
Electronics suffered serious fire damage at its home office. As a result, the accounting records for
October were partially destroyedand 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.
b Find the beginning Raw Materials Inventory.
Determine the beginning Raw Materials Inventory by completing the following table.
Data table
Revenues in October $
Work in process inventory,
October
$
Raw materials inventory,
October $ $
Direct labor in October $
Manufacturing overhead in
October $
Work in process inventory,
October
Finished goods inventory,
October Direct materials used in
October $ $
Gross profit in October $
Purchases of direct
c Find the Ending Finished Goods Inventory.
sure to enter in the appropriate column.
Total manufacturing costs to account for
Ending work in process inventory
Cost of goods manufactured
Now determine the Ending Finished Goods Inventory.
Cost of goods available for sale
Ending finished goods inventory
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