problem 2-25

PROBLEM 2-25 Working with incomplete Data from the Income Statement and Schedule of Cost of Goods Manufactured [104, L05) Supply the missing data in the following cases. Each case is independent of the others. Case 1 2. 4 $5,000 $7,000 54,500 2 55,000 $18,500 $2.500 2 $18,000 $6,000 $3,000 $4.000 ? 7 $1,000 $14,000 $20,000 $3,000 $4,000 7 $3.000 $4.000 $9.000 ? 7 $3.000 7 Schedule of Cost of Goods Manufactured Direct materials Direct labor Manufacturing overhead Totsi manufacturing costs Beginning work in process inventory Ending work in process inventory Cost of goods manufactured Income Statement Sales Beginning finished goods inventory Coal of goods manufactured Goods available for sale Ending finished goods sventory Cost of goods sold Gross margin Seling and administrative expenses Net operating income. $30,000 51.000 $18,000 ? 2 $17,000 $13,000 2 $4,000 521,000 $30,000 $2.500 2 314,000 7 ? $1,500 $4,000 7 $18,500 $17.500 53,500 7 12 $5,000 340.000 $2.000 $17.500 ? $3.500 7 7 7 $9.000