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Q3) Supply the missing data (20 points) Schedule of Cost of Goods Manufactured Direct materials..... $5,000 Direct labor ....... $7,000 Manufacturing overhead........ ? Total manufacturing
Q3) Supply the missing data (20 points) Schedule of Cost of Goods Manufactured Direct materials..... $5,000 Direct labor ....... $7,000 Manufacturing overhead........ ? Total manufacturing costs $20,000 Beginning work in process inventory $3,000 Ending work in process inventory. $4,000 Cost of goods manufactured ........ ? Income Statement Sales............ ........ $36.000 Beginning finished goods inventory.... ? Cost of goods manufactured ? Goods available for sale....... ? Ending finished goods inventory...... $4,000 Cost of goods sold... $18,500 Gross margin........... $17.500 Selling and administrative expenses ? Net operating income $5,000
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