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Incomplete manufacturing costs, expenses, and selling data for two different cases are as follows. Indicate the missing amount Case 1 2 $10,150 $ Direct materials
Incomplete manufacturing costs, expenses, and selling data for two different cases are as follows. Indicate the missing amount Case 1 2 $10,150 $ Direct materials used Direct labor 6,020 8,170 Manufacturing overhead 8,630 4,470 Total manufacturing costs 16,140 Beginning work in process inventory 1,720 Ending work in process inventory 3,200 Sales revenue 25,850 Sales discounts 2,630 1,750 Cost of goods manufactured 17,310 22.300 3,880 Beginning finished goods inventory Goods available for sale 23.010 Cost of goods sold Ending finished goods inventory 3,570 3,160 Gross profit 7,640 Operating expenses 3,080 Net income 5.510 Indicate the missing amount Case 1 2 $10.150 $ Direct materials used Direct labor 6,020 8.170 Manufacturing overhead 8,630 4,470 Total manufacturing costs 16,140 Beginning work in process inventory 1,720 Ending work in process inventory 3,200 Sales revenue 25,850 Sales discounts 2,630 1,750 Cost of goods manufactured 17,310 22,300 Beginning finished goods inventory 3.880 Goods available for sale 23,010 Cost of goods sold 3,570 Ending finished goods inventory 3,160 Gross profit 7,640 Operating expenses 3,080 Net income 5.510 Prepare a condensed cost of goods manufactured schedule for Case 1 CASE 1 Cost of Goods Manufactured Schedule $ $ +A tA Prepare an income statement for Case 1 CASE 1 Income Statement tA +A tA Prepare 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 $3,830, Receivables (net) $15,420, Raw Materials $640, and Prepaid Expenses $500. (List Current Assets in order of liquidity.) CASE 1 (Partial) Balance Sheet $ +6 A tA (e) Prepare the budgeted multiple-step income statement for the year. (Note: income taxes are not allocated to the products) DELEON INC. Budgeted Income Statement JB 50 JB 60 Total $ $ A
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