Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The following data refers to one month for Talmidge Company. Fill in the blanks. Direct Materials Inventory, March 1st 36000 Direct Materials Inventory, March 31st
The following data refers to one month for Talmidge Company. Fill in the blanks.
| Direct Materials Inventory, March 1st | 36000 |
| Direct Materials Inventory, March 31st | 23500 |
| WIP Inventory March 1st | 7000 |
| WIP Inventory March 31st | |
| Finished Goods Inventory March 1st | 34000 |
| Finished Goods Inventory March 31st | 39500 |
| Purchases of direct materials | |
| Costs of good manufactured during the month | 150000 |
| Total manufactoring costs | 147000 |
| Cost of goods sold | |
| Gross Margin | 195500 |
| Direct Labor | 70000 |
| Direct Material used | 51000 |
| Manufactoring Overhead | |
| Sales Revenue | 340000 |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started