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ndicate the missing amount of different cost items, and prepare a condensed cost of goods manufactured schedule, an income statement, and apartial balance sheet.
ndicate the missing amount of different cost items, and prepare a condensed cost of goods manufactured schedule, an income statement, and apartial balance sheet. LO 5, 6, 7), AN P1-3B Incomplete manufacturing costs, expenses, and selling data for two different cases are as follows. Direct materials used Direct labor Manufacturing overhead Total manufacturing costs Beginning work in process inventory Ending work in process inventory Sales revenue Sales discounts Cost of goods manufactured Case A B $ 6,300 $ (g) 3,000 4,000 6,000 5,000 (a) 16,000 1,000 (h) (b) 2,000 22,500 (i) 1,500 1,200 15,800 20,000 Problems: Set B 41 Instructions Case B Beginning finished goods inventory Goods available for sale $ (c) 18,300 $ 5,000 (i) (d) (k) 1,200 2,500 (e) 6,000 2,700 (f) (1) 2,200 Cost of goods sold Ending finished goods inventory Gross profit Operating expenses Net income (a) Indicate the missing amount for each letter. (b) Prepare a condensed cost of goods manufactured schedule for Case A. (c) Prepare an income statement and the current assets section of the balance sheet for Case A. Assume that in Case A the other items in the current assets section are as follows: Cash $3,000, Receivables (net) $10,000, Raw Materials $700, and Prepaid Expenses $200. (b) Beg. WIP $1,000 (c) Current assets $15,600
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