Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

You have the following information about the activities of Martin Inc. for 2014: Sales $ 1,560,000 Factory maintenance 66,000 Indirect labour 32,000 Direct material purchases

You have the following information about the activities of Martin Inc. for 2014:

Sales $ 1,560,000
Factory maintenance 66,000
Indirect labour 32,000
Direct material purchases 204,000
Factory utilities 47,000
Direct materials used in production 198,000
General and administrative expenses 101,800
Beginning work-in-process inventory 27,200
Beginning finished goods inventory 63,000
Ending work-in-process inventory 28,900
Beginning direct materials inventory 16,000
Selling expenses 97,900
Direct labour 285,000
Factory insurance 45,600
Indirect materials 39,100
Depreciation,factory 55,000
Cost of goods sold 709,000

Required:
1. What was the amount of the ending direct materials inventory?

2. What was the amount of the total manufacturing costs?

3. What was the cost of goods manufactured in 2014?

4. What was the amount of the ending finished goods inventory?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing and Assurance services an integrated approach

Authors: Alvin a. arens, Randal j. elder, Mark s. Beasley

14th Edition

133081605, 132575957, 9780133081602, 978-0132575959

More Books

Students also viewed these Accounting questions