{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-06-28T06:46:33-04:00", "answer_date": "2024-06-28 06:46:33", "is_docs_available": null, "is_excel_available": null, "is_pdf_available": null, "count_file_available": 0, "main_page": "student_question_view", "question_id": "4255277", "url": "\/study-help\/questions\/question-1the-following-balances-are-from-the-accounts-of-tappan-4255277", "question_creation_date_js": "2024-06-28T06:46:33-04:00", "question_creation_date": "Jun 28, 2024 06:46 AM", "meta_title": "[Solved] Question 1)The following balances are fro | SolutionInn", "meta_description": "Answer of - Question 1)The following balances are from the accounts of Tappan Parts: January 1 (Beginning) December 31 (Ending) Di | SolutionInn", "meta_keywords": "question,1,balances,accounts,tappan,parts,january,beginning,december,31,ending,direct", "question_title_h1": "Question 1)The following balances are from the accounts of Tappan Parts: January 1 (Beginning) December 31 (Ending) Direct materials inventory $ 962,000 $ 884,000 Work-in-process", "question_title": "Question 1)The following balances are from the accounts of Tappan Parts: January", "question_title_for_js_snippet": "Question 1)The following balances are from the accounts of Tappan Parts January 1 (Beginning) December 31 (Ending) Direct materials inventory $ 962,000 $ 884,000 Work in process inventory 1,354,000 1,430,000 Finished goods inventory 312,000 364,000 Direct materials used during the year amount to $1,196,000 and the cost of goods sold for the year was $1,378,000 Required Prepare a cost of goods sold statement Question 2 The following data are available for Remington Advisors for the month just ended Gross margin $ 810,000 Operating profit 305,000 Revenues 1,700,000 Required a Find the marketing and administrative costs b Find the cost of services sold ", "question_description": "
Question 1)The following balances are from the accounts of Tappan Parts:<\/p>
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<\/td> | January 1 (Beginning)<\/td> | December 31 (Ending)<\/td> <\/tr> | |||||||||||||||
Direct materials inventory<\/td> | $<\/td> | 962,000<\/td> | <\/td> | $<\/td> | 884,000<\/td> | <\/td> <\/tr> | |||||||||||
Work-in-process inventory<\/td> | <\/td> | 1,354,000<\/td> | <\/td> | <\/td> | 1,430,000<\/td> | <\/td> <\/tr> | |||||||||||
Finished goods inventory<\/td> | <\/td> | 312,000<\/td> | <\/td> | <\/td> | 364,000<\/td> | <\/td> <\/tr> | |||||||||||
<\/p><\/td><\/tr> <\/tbody><\/table> Direct materials used during the year amount to $1,196,000 and the cost of goods sold for the year was $1,378,000. <\/p> Required:<\/p> Prepare a cost of goods sold statement.<\/p> <\/p> <\/p> Question 2:<\/p> The following data are available for Remington Advisors for the month just ended: <\/p>
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