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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) Correct answer icon
Incomplete manufacturing costs, expenses, and selling data for two different cases for the year ended December 31, 2022, are as follows.
(a)
Correct answer icon
Your answer is correct.
Determine the missing amount for each letter.
Case | ||||||
1 | 2 | |||||
Direct materials used | $9,890 | $3360 | (g) | |||
Direct labor | 5,670 | 8,450 | ||||
Manufacturing overhead | 8,640 | 5,100 | ||||
Total manufacturing costs | 24,200 | (a) | 16,910 | |||
Beginning work in process inventory | 1,370 | 9,240 | (h) | |||
Ending work in process inventory | 7,740 | (b) | 3,750 | |||
Sales revenue | 25,110 | 31,950 | (i) | |||
Sales discounts | 2,770 | 1,990 | ||||
Cost of goods manufactured | 17,830 | 22,400 | ||||
Beginning finished goods inventory | 4,910 | (c) | 3,590 | |||
Cost of goods available for sale | 22,740 | 25,990 | (j) | |||
Cost of goods sold | 18,540 | (d) | 22,620 | (k) | ||
Ending finished goods inventory | 4,200 | 3,370 | ||||
Gross profit | 3,800 | (e) | 7,340 | |||
Operating expenses | 2,810 | 1,760 | (l) | |||
Net income | 990 | (f) | 5,580 |
(b)
a condensed cost of goods manufactured schedule for Case 1.
CASE 1 Cost of Goods Manufactured Schedule choose the accounting period December 31, 2022For the Year Ended December 31, 2022For the Quarter Ended December 31, 2022 | ||||
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select an opening name for the schedule Cost of Goods ManufacturedDirect LaborDirect MaterialsManufacturing OverheadTotal Cost of Work in ProcessTotal Manufacturing CostsWork in Process, BeginningWork in Process, EndingCost of Goods Available for SaleCost of Goods SoldFinished Goods Inventory, BeginningFinished Goods Inventory, EndingGross ProfitNet Income / (Loss)Net SalesOperating ExpensesSales RevenueSales Discounts | $enter a dollar amount | |||
select an item Cost of Goods ManufacturedDirect LaborDirect MaterialsManufacturing OverheadTotal Cost of Work in ProcessTotal Manufacturing CostsWork in Process, BeginningWork in Process, EndingCost of Goods Available for SaleCost of Goods SoldFinished Goods Inventory, BeginningFinished Goods Inventory, EndingGross ProfitNet Income / (Loss)Net SalesOperating ExpensesSales RevenueSales Discounts | $enter a dollar amount | |||
select an item Cost of Goods ManufacturedDirect LaborDirect MaterialsManufacturing OverheadTotal Cost of Work in ProcessTotal Manufacturing CostsWork in Process, BeginningWork in Process, EndingCost of Goods Available for SaleCost of Goods SoldFinished Goods Inventory, BeginningFinished Goods Inventory, EndingGross ProfitNet Income / (Loss)Net SalesOperating ExpensesSales RevenueSales Discounts | enter a dollar amount | |||
select an item Cost of Goods ManufacturedDirect LaborDirect MaterialsManufacturing OverheadTotal Cost of Work in ProcessTotal Manufacturing CostsWork in Process, BeginningWork in Process, EndingCost of Goods Available for SaleCost of Goods SoldFinished Goods Inventory, BeginningFinished Goods Inventory, EndingGross ProfitNet Income / (Loss)Net SalesOperating ExpensesSales RevenueSales Discounts | enter a dollar amount | |||
select a summarizing line for the first part Cost of Goods ManufacturedDirect LaborDirect MaterialsManufacturing OverheadTotal Cost of Work in ProcessTotal Manufacturing CostsWork in Process, BeginningWork in Process, EndingCost of Goods Available for SaleCost of Goods SoldFinished Goods Inventory, BeginningFinished Goods Inventory, EndingGross ProfitNet Income / (Loss)Net SalesOperating ExpensesSales RevenueSales Discounts | enter a total amount for the first part | |||
select a summarizing line for the second part Cost of Goods ManufacturedDirect LaborDirect MaterialsManufacturing OverheadTotal Cost of Work in ProcessTotal Manufacturing CostsWork in Process, BeginningWork in Process, EndingCost of Goods Available for SaleCost of Goods SoldFinished Goods Inventory, BeginningFinished Goods Inventory, EndingGross ProfitNet Income / (Loss)Net SalesOperating ExpensesSales RevenueSales Discounts | enter a total amount for all two parts | |||
select between addition and deduction AddLess:select an item Cost of Goods ManufacturedDirect LaborDirect MaterialsManufacturing OverheadTotal Cost of Work in ProcessTotal Manufacturing CostsWork in Process, BeginningWork in Process, EndingCost of Goods Available for SaleCost of Goods SoldFinished Goods Inventory, BeginningFinished Goods Inventory, EndingGross ProfitNet Income / (Loss)Net SalesOperating ExpensesSales RevenueSales Discounts | enter a dollar amount | |||
select a closing name for this schedule Cost of Goods ManufacturedDirect LaborDirect MaterialsManufacturing OverheadTotal Cost of Work in ProcessTotal Manufacturing CostsWork in Process, BeginningWork in Process, EndingCost of Goods Available for SaleCost of Goods SoldFinished Goods Inventory, BeginningFinished Goods Inventory, EndingGross ProfitNet Income / (Loss)Net SalesOperating ExpensesSales RevenueSales Discounts | $enter a total amount for this schedule |
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