Question
Problem 2-45 Determine the missing amounts in each of the following independent cases. I need to show my work to the missing answers. Case A
Problem 2-45
Determine the missing amounts in each of the following independent cases. I need to show my work to the missing answers.
| Case A | Case B | Case C | |
| Sales | ? | ? | $240,000 |
| Beginning inventory, raw material | ? | $60,000 | $7,500 |
| Ending inventory, raw material | $180,000 | ? | $15,00 |
| Purchases of raw material | $200,000 | $255,000 | ? |
| Direct material used | $140,000 | $285,000 | ? |
| Direct Labor | ? | 300,000 | 62,500 |
| Manufacturing overhead | $500,000 | ? | $80,000 |
| Total manufacturing costs | $1,040,000 | $1,035,000 | $170,000 |
| Beginning inventory, work in process | $70,000 | $60,000 | ? |
| Ending inventory, work in process | ? | $105,000 | $2,500 |
| Cost of goods manufactured | $1,050,000 | ? | $175,000 |
| Beginning inventory, finished goods | $100,000 | $120,000 | ? |
| Cost of goods available for sale | ? | ? | $185,000 |
| Ending inventory, finished goods | ? | ? | $12,500 |
| Cost of goods sold | $1,090,000 | $990,000 | ? |
| Gross margin | 510,000 | 510,000 | ? |
| Selling and administrative expenses | ? | 225,000 | ? |
| Income before taxes | 300,000 | ? | $45,000 |
| Income tax expense | $80,000 | $135,000 | ? |
| Net income | ? | ? | $ 27,500 |
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