Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Please help! Homework: Homework 1 Score: 5.33 of 8 pts 6 of 11 (10 complete) %E2-23A (final answer) (Click the icon to view the amounts.)
Please help!
Homework: Homework 1 Score: 5.33 of 8 pts 6 of 11 (10 complete) %E2-23A (final answer) (Click the icon to view the amounts.) Alpha Electronics manufactures and sells a line of music. Unfortunately, Alpha Electronics suffered serious fire damage at its home office. As a result, the accounting records for October were partially destroyedand completely jumbled. Alpha Electronics has hired you to help figure out the missing pieces of the accounting puzzle. Assume that the Raw Materials Inventory contains only direct materials. Requirement Find the following amounts: a Cost of Goods Sold in October Materials Inventory Goods Inventory i Data Table a. Find the Cost of Goods Sold in October. Cost of goods sold is $ 15,100 b. Find the beginning Raw Materials Inventory. Beginning raw materials inventory is $ 2,100 c. Find the Ending Finished Goods Inventory. Revenues in October.................... $ 27,300 Work in process inventory, October 31. ....$ 1,700 Raw materials inventory, October 31 .....$ 3,300 Direct labor in October .................$ 3,800 Manufacturing overhead in October .......$ 6,000 Work in process inventory, October 1......$ 0 Finished goods inventory, October 1 ...... $ 4,000 Direct materials used in October ..........$ 8,700 Gross profit in October .................$ ......... $ 12,200 12,200 Purchases of direct materials in October ... $ 9,900 Ending finished goods inventory is $ . Enter any number in the edit fields and then click Check Answer. All parts showing Print Done ]Step 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