{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-06-07T06:58:34-04:00", "answer_date": "2024-06-07 06:58:34", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "2408798", "url": "\/study-help\/questions\/tuv-corporation-gathered-the-following-data-for-the-month-of-2408798", "question_creation_date_js": "2024-06-07T06:58:34-04:00", "question_creation_date": "Jun 07, 2024 06:58 AM", "meta_title": "[Solved] TUV Corporation gathered the following da | SolutionInn", "meta_description": "Answer of - TUV Corporation gathered the following data for the month of December: Item Amount ($) Direct Materials Used 130,000 D | SolutionInn", "meta_keywords": "tuv,corporation,gathered,data,month,december,item,amount,$,direct,materials,130,000", "question_title_h1": "TUV Corporation gathered the following data for the month of December: Item Amount ($) Direct Materials Used 130,000 Direct Labor 96,000 Manufacturing Overhead (Variable) 84,000", "question_title": "TUV Corporation gathered the following data for the month of December: Item", "question_title_for_js_snippet": "TUV Corporation gathered the following data for the month of December Item Amount ($) Direct Materials Used 130,000 Direct Labor 96,000 Manufacturing Overhead (Variable) 84,000 Manufacturing Overhead (Fixed) 92,000 Beginning Work in Process Inventory 82,000 Ending Work in Process Inventory 84,000 Beginning Finished Goods Inventory 88,000 Ending Finished Goods Inventory 90,000 Requirements a) Compute the Total Manufacturing Cost b) Determine the Cost of Goods Manufactured c) Find the Cost of Goods Sold d) Calculate the Gross Profit e) Construct a Schedule of Cost of Goods Manufactured f) Prepare a Schedule of Cost of Goods Sold g) Prepare a Schedule of Gross Profit ", "question_description": "

<\/p>

  1. TUV Corporation gathered the following data for the month of December:<\/li><\/ol>
    Item<\/th>Amount ($)<\/th><\/tr><\/thead>
    Direct Materials Used<\/td>130,000<\/td><\/tr>
    Direct Labor<\/td>96,000<\/td><\/tr>
    Manufacturing Overhead (Variable)<\/td>84,000<\/td><\/tr>
    Manufacturing Overhead (Fixed)<\/td>92,000<\/td><\/tr>
    Beginning Work in Process Inventory<\/td>82,000<\/td><\/tr>
    Ending Work in Process Inventory<\/td>84,000<\/td><\/tr>
    Beginning Finished Goods Inventory<\/td>88,000<\/td><\/tr>
    Ending Finished Goods Inventory<\/td>90,000<\/td><\/tr><\/tbody><\/table>

    Requirements: a) Compute the Total Manufacturing Cost. b) Determine the Cost of Goods Manufactured. c) Find the Cost of Goods Sold. d) Calculate the Gross Profit. e) Construct a Schedule of Cost of Goods Manufactured. f) Prepare a Schedule of Cost of Goods Sold. g) Prepare a Schedule of Gross Profit.<\/p>

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