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Incomplete manufacturing costs, expenses, and selling data for two different cases for the year ended December 31, 2022, are as follows. (a) Determine the missing
Incomplete manufacturing costs, expenses, and selling data for two different cases for the year ended December 31, 2022, are as follows.
(a)
Determine the missing amount for each letter.
Case | ||||||
1 | 2 | |||||
Direct materials used | $9,890 | $enter a dollar amount | (g) | |||
Direct labor | 5,670 | 8,450 | ||||
Manufacturing overhead | 8,640 | 5,100 | ||||
Total manufacturing costs | enter a dollar amount | (a) | 16,910 | |||
Beginning work in process inventory | 1,370 | enter a dollar amount | (h) | |||
Ending work in process inventory | enter a dollar amount | (b) | 3,750 | |||
Sales revenue | 25,110 | enter a dollar amount | (i) | |||
Sales discounts | 2,770 | 1,990 | ||||
Cost of goods manufactured | 17,830 | 22,400 | ||||
Beginning finished goods inventory | enter a dollar amount | (c) | 3,590 | |||
Cost of goods available for sale | 22,740 | enter a dollar amount | (j) | |||
Cost of goods sold | enter a dollar amount | (d) | enter a dollar amount | (k) | ||
Ending finished goods inventory | 4,200 | 3,370 | ||||
Gross profit | enter a dollar amount | (e) | 7,340 | |||
Operating expenses | 2,810 | enter a dollar amount | (l) | |||
Net income | enter a dollar amount | (f) | 5,580 |
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