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Raw materials, $85,000 Work in process, $210,000 Finished goods, $224,000 He remembers several schedules he learned in college that may help him get started. annual
Raw materials, $85,000 Work in process, $210,000 Finished goods, $224,000 He remembers several schedules he learned in college that may help him get started. annual report. We need III St-quarter Cost uara. "I was working on the first-quarter results just before the storm hit," Todd says. "Look, my report's still in my desk drawer. But all I can make out is that for the first quarter, material purchases were $530,000 and that direct labor, manufacturing overhead (other than indirect materials), and total manufacturing costs to account for were $551,000; $234,000; and $1,523,000, respectively. Wait, and cost of goods available for sale was $1,615,000." "Great," says Freida. "I remember that sales for the period were approximately $1.7 million. Given our gross profit of 10%, that's all you should need." Todd is not sure about that, but decides to see what he can do with this information. Before the disaster recovery specialists clean the buildings, Freida Anderson, the company controller, is anxious to salvage whatever records she can to support an insurance claim for the destroyed inventory. She is standing in what is left of the Accounting Department wtih Todd Mitton, the cost accountant. "I didn't know mud could smell so bad," Todd says. "What should I be looking for?" "Don't worry about beginning inventory numbers," responds Freida. "We'll get them from last year's annual report. We need first-quarter cost data." "I was working on the first quarter results just before the storm hit," Todd says. "Look, my report's Homework: Homework 1 Save Score: 0 of 8 pts 7 of 11 (10 complete) HW Score: 76.72%, 38.36 of 50 pts P2-43A (final answer) : Question Help The beginning inventory numbers are as follows: (Click the icon to view beginning inventory numbers.) Super Displays designs and manufactures displays used in mobile devices. Serious flooding throughout the region affected Super Displays' facilities. Inventory was completely ruined, and the company's computer system, including all accounting records, was destroyed. A/Click the icon to view additional information Requirement Determine the ending inventories of raw materials, work in process, Ending raw materials inventory
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