Question
Incomplete manufacturing costs, expenses, and selling data for two different cases are as follows. Collapse question part (a) Correct answer. Your answer is correct. Indicate
Incomplete manufacturing costs, expenses, and selling data for two different cases are as follows. Collapse question part (a) Correct answer. Your answer is correct. Indicate the missing amount. Case 1 2 Direct materials used $ 9,600 $ Entry field with correct answer 4,000 Direct labor 5,000 8,000 Manufacturing overhead 8,000 4,000 Total manufacturing costs Entry field with correct answer 22,600 16,000 Beginning work in process inventory 1,000 Entry field with correct answer 9,000 Ending work in process inventory Entry field with correct answer 6,600 3,000 Sales revenue 24,500 Entry field with correct answer 31,200 Sales discounts 2,500 1,400 Cost of goods manufactured 17,000 22,000 Beginning finished goods inventory Entry field with correct answer 3,000 3,300 Goods available for sale 20,000 Entry field with correct answer 25,300 Cost of goods sold Entry field with correct answer 16,600 Entry field with correct answer 22,800 Ending finished goods inventory 3,400 2,500 Gross profit Entry field with correct answer 5,400 7,000 Operating expenses 2,500 Entry field with correct answer 2,000 Net income Entry field with correct answer 2,900 5,000 LINK TO TEXT Attempts: 1 of 15 used Collapse question part (b) Correct answer. Your answer is correct. Prepare a condensed cost of goods manufactured schedule for Case 1. CASE 1 Cost of Goods Manufactured Schedule Entry field with correct answer $ Entry field with correct answer 1,000 Entry field with correct answer $ Entry field with correct answer 5,000 Entry field with correct answer Entry field with correct answer 8,000 Entry field with correct answer Entry field with correct answer 9,600 Entry field with correct answer Entry field with correct answer 22,600 Entry field with correct answer Entry field with correct answer 23,600 Entry field with correct answer : Entry field with correct answer Entry field with correct answer 6,600 Entry field with correct answer $ Entry field with correct answer 17,000 LINK TO TEXT Attempts: 5 of 15 used Collapse question part (c) Prepare an income statement and the current assets section of the balance sheet for Case 1. Assume that in Case 1 the other items in the current assets section are as follows: Cash $ 4,000 , Receivables (net) $ 15,000 , Raw Materials $ 600 , and Prepaid Expenses $ 400 . (List current assets in order of liquidity.) CASE 1 Income Statement $ : $ : $ CASE 1 (Partial) Balance Sheet $ $ $ LINK TO TEXT
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