Answered step by step
Verified Expert Solution
Question
...
1 Approved Answer
Indicate the missing amount. Case 1 2 Direct materials used $9,850 $ Direct labor 5,460 9,060 Manufacturing overhead 9,030 4,350 Total manufacturing costs 16,870 Beginning
Indicate the missing amount.
Case | ||
1 | 2 | |
Direct materials used | $9,850 | $ |
Direct labor | 5,460 | 9,060 |
Manufacturing overhead | 9,030 | 4,350 |
Total manufacturing costs | 16,870 | |
Beginning work in process inventory | 1,490 | |
Ending work in process inventory | 3,300 | |
Sales revenue | 25,200 | |
Sales discounts | 2,720 | 2,120 |
Cost of goods manufactured | 18,100 | 22,160 |
Beginning finished goods inventory | 3,870 | |
Goods available for sale | 22,510 | |
Cost of goods sold | ||
Ending finished goods inventory | 4,340 | 2,630 |
Gross profit | 7,620 | |
Operating expenses | 3,350 | |
Net income | 5,350 |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-text-image.webp)
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Step: 3
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started