Question
Supply the 7 missing pieces of information (2a-2g) in the following cases denoted by a question mark (?). Each of the three cases is independent
Supply the 7 missing pieces of information (2a-2g) in the following cases denoted by a question mark (?). Each of the three cases is independent of the others. Assume there is no work in process inventory. Please fill in your answers to 2a-2g in the appropriate lines on the answer sheet.
Cost | Case 1 | Case 2 | Case 3 |
Direct Materials | $4,500 | $9,000 | $5,000 |
Direct Labor | ? (1a) | $3,000 | $7,000 |
Manufacturing Overhead | $3,000 | Rate = 2/3 DM$ | ? (1f) |
Cost of Goods Manufactured | $18,000 | ? (1c) | $20,000 |
Sales | $30,000 | $19,000 | ? (1g) |
Beginning Finished Goods Inventory | $7,000 | $2,500 | $36,000 |
Ending Finished Goods Inventory | ? (1b) | $1,500 | $5,000 |
Cost of Goods Sold | $16,000 | ? (1d) | ?(1h) |
Gross Margin | $14,000 | ? (1e) | 16,500 |
1(a) Direct Labor (Case 1):
1(b) Ending Finished Goods Inventory (Case 1):
1(c) Cost of Goods Manufactured (Case 2):
1(d) Cost of Goods Sold (Case 2):
1(e) Gross Margin (Case 2):
1(f) Manufacturing Overhead (Case 3)
1(g) Sales (Case 3):
1(h) Cost of Goods Sold (Case 3):
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