Unique displays designs and manufactures displays used in mobile devices. Serious flooding throughout the region affected unique displays' facilities. Inventory was completely ruined, and the companies computer system, including all accounting records, I was destroyed.
The beginning inventory numbers are as follows:
requirement:
determine the ending inventory of raw materials, work in process, and finished goods. Assume that role materials inventory contains only direct materials.
thats all the information . there isnt any missing info
Raw materials, $75,000 Work in process, $226,000 Finished goods, $213,000 He remembers several schedules he learned in college that may help him get started. Start by determining the ending inventory of raw materials by calculating the direct materials used. Unique Displays Calculation of Direct Materials Used For Current Year Beginning raw materials inventory 75000 Purchases of direct materials Plus: Direct materials available for use Less: Ending raw materials inventory Direct materials used Unique Displays designs and manufactures displays used in mobile devices. Serious flooding throughout the region focted Unique Displays faoilities. Inventory was completely ruined, and the company's computer system, including al ccounting records, was destroyed. O (Cick the icon to view additional information.) The beginning inventory numbers are as follows: E (Click the icon to view beginning inventory numbers.) Requirement Determine the ending inventories of raw materials, work in process, and finished goods. Assume that Raw Materia Inventory contains only direct materials. Start by determining the ending inventory of raw materials by calculating the direct materials used. Unique Displays Calculation of Direct Materials Used For Current Year Data Table Beginning raw materials inventory Purchases of direct materials Plus: Direct materials available for use Raw materiale, $75,000 Less: Ending raw materials inventory Work in process, $226,000 Finished goods, $213,000 Direct materials used He remembers several schedules he leamed in college that may help him get started. Print Done Start by determining the ending inventory of raw materials by calculating the direct materials used. Unique Displays Calculation of Direct Materials Used For Current Year Plus: Less: Beginning raw materials inventory Beginning work in process inventory Cost of goods manufactured Direct labor Direct materials available for use Direct materials used Ending raw materials inventory Ending work in process inventory Manufacturing overhead Purchases of direct materials Total manufacturing costs incurred during the period Total manufacturing costs to account for i click Check Answer. Before the disaster recovery specialists clean the buildings, Louise Ditchey, the company controller, is anxious to salvage whatever records she can to support an insurance claim for the destroyed inventory. She is standing in what is left of the Accounting Department wtih Trent Parker, the cost accountant. "I didn't know mud could smell so bad," Trent says. "What should I be looking for?" "Don't worry about beginning inventory numbers," responds Louise. "We'll get them from last year's annual report. We need first-quarter cost data." "I was working on the first-quarter results just before the storm hit," Trent says. "Look, my report's still in my desk drawer. But all I can make out is that for the first quarter, material purchases were $533,000 and that direct labor, manufacturing overhead (other than indirect materials), and total manufacturing costs to account for were $551,000; $218,000; and $1,491,000, respectively. Wait, and cost of goods available for sale was $1,615,000." "Great," says Louise. "I remember that sales for the period were approximately $1.8 million. Given our gross profit of 30%, that's all you should need." Trent is not sure about that, but decides to see what he can do with this information. Print Done
