Question
Incomplete manufacturing costs, expenses, and selling data for two different cases are as follows. Indicate the missing amount. Case 1 2 Direct materials used $9,720
Incomplete manufacturing costs, expenses, and selling data for two different cases are as follows. Indicate the missing amount. Case 1 2 Direct materials used $9,720 $ Direct labor 5,970 8,690 Manufacturing overhead 8,530 4,760 Total manufacturing costs 16,870 Beginning work in process inventory 1,900 Ending work in process inventory 4,030 Sales revenue 25,990 Sales discounts 2,610 1,860 Cost of goods manufactured 17,350 22,410 Beginning finished goods inventory 4,110 Goods available for sale 22,240 Cost of goods sold Ending finished goods inventory 3,610 3,400 Gross profit 7,900 Operating expenses 3,250 Net income 5,130 LINK TO TEXT Prepare a condensed cost of goods manufactured schedule for Case 1. CASE 1 Cost of Goods Manufactured Schedule $ $ : $ LINK TO TEXT 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 $3,270, Receivables (net) $15,650, Raw Materials $660, and Prepaid Expenses $430. (List Current Assets in order of liquidity.) CASE 1 (Partial) Balance Sheet $ $ $
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