Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Indicate the missing values in each case (case 1 and case 2) Indicate the missing amount. Case 2 Direct materials used Direct labor Manufacturing overhead
Indicate the missing values in each case (case 1 and case 2)
Indicate the missing amount. Case 2 Direct materials used Direct labor Manufacturing overhead Total manufacturing costs $9,600 4000 8,000 4,000 16,000 5,000 8,000 22600 1,000 Beginning work in process inventory 9000 Ending work in process inventory Sales revenue Sales discounts Cost of goods manufactured Beginning finished goods inventory 3,000 6600 24,500 2,500 17,000 3000 31200 24,000 3,300 Goods available for sale 22,000 25300 Cost of goods sold Ending finished goods inventory Gross profit 22800 2,500 7,000 16600 3,400 5400 2,500 Operating expenses 2000 Net income 2900 5,000Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started