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Incomplete manufacturing costs, expenses, and selling data for two different cases are as follows. Indicate the missing amount for each letter. Case (g) Direct materials
Incomplete manufacturing costs, expenses, and selling data for two different cases are as follows. Indicate the missing amount for each letter. Case (g) Direct materials used Direct labor Manufacturing overhead Total manufacturing costs $10,060 5,180 8,820 8,290 4,280 17,010 Beginning work in process inventory 1,410 (h) 3,660 Ending work in process inventory Sales revenue Sales discounts Cost of goods manufactured Beginning finished goods inventory (b) 25,390 2,730 17,180 1,990 22,900 4,320 Goods available for sale 22,240 Cost of goods sold Ending finished goods inventory Gross profit 3,590 3,010 7,870 (e) 2,820 Operating expenses Net income 5,100 Prepare a condensed cost of goods manufactured schedule for Case 1. CASE 1 Cost of Goods Manufactured Schedule Prepare an income statement for Case 1. CASE 1 Income Statement 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 $3,550, Receivables (net) $15,800, Raw Materials $620, and Prepaid Expenses $430. (List Current Assets in order of liquidity.) CASE 1 (Partial) Balance Sheet CASE 1 (Partial) Balance Sheet Current Assets Cash Receivables Inventories Finished Goods Work in Process Raw Materials Prepaid Expenses Total Current Assets Click if you would like to Show Work for this question: Qpen Show Work LINK TO TEXT VIDEO: SIMILAR PROBLEM CASE 1 Cost of Goods Manufactured Schedule Work in Process Inventory, Beginning Direct Materials Direct Labor Manufacturing Overhead Total Manufacturing Costs Total Cost of Work in Process Less . Work in Process Inventory, Ending Cost of Goods Manufactured V LINK TO TEXT VIDEO: SIMILAR PROBLEM Prepare an income statement for Case 1. CASE 1 Income Statement Sales Revenue Less Sales Discounts Net Sales Cost of Goods Sold Finished Goods Inventory, Beginning Cost of Goods Manufactured Cost of Goods Available for Sale Less Finished Goods Inventory, Ending Cost of Goods Sold Gross Profit Operating Expenses Net Income / (Loss) 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 $3,550, Receivables (net) $15,800, Raw Materials $620, and Prepaid Expenses $430. (List Current Assets in order of liquidity.)
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