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The accounts for a manufacturing company for an accounting period are listed below. Find the unknown amounts indicated by question marks. Sales $39,000 Cost of
- The accounts for a manufacturing company for an accounting period are listed below. Find the unknown amounts indicated by question marks.
Sales $39,000 Cost of goods sold ? Purchases of direct materials $11,000 Direct labour $5,000 Finished goods inventory, beginning $5,000 Work in process, beginning $800 Work in process, ending $3,000 Gross margin $11,700 Finished goods inventory, ending ? Accounts payable, beginning $4,000 Accounts payable, ending $2,800 Direct materials inventory, beginning $1,000 Direct materials inventory, ending $3,000 Indirect labour $2,000 Indirect materials used $4,000 Utilities expense, factory $3,000 Depreciation on factory equipment $7,000
| Sales | $39,000 |
| Cost of goods sold | ? |
| Purchases of direct materials | $11,000 |
| Direct labour | $5,000 |
| Finished goods inventory, beginning | $5,000 |
| Work in process, beginning | $800 |
| Work in process, ending | $3,000 |
| Gross margin | $11,700 |
| Finished goods inventory, ending | ? |
| Accounts payable, beginning | $4,000 |
| Accounts payable, ending | $2,800 |
| Direct materials inventory, beginning | $1,000 |
| Direct materials inventory, ending | $3,000 |
| Indirect labour | $2,000 |
| Indirect materials used | $4,000 |
| Utilities expense, factory | $3,000 |
| Depreciation on factory equipment | $7,000 |
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Auditing Cases An Active Learning Approach
Authors: Mark S. Beasley, Frank A. Buckless, Steven M. Glover, Douglas F. Prawitt
2nd Edition
0130674842, 978-0130674845
