Account Activity and Relationships Each case is independent. Solve for missing data in alphabetical order. (Hint: Refer to Exhibit 18.6, p. 18-17 and the WIP table, p. 18-25.) Case A Case B Case C Case D Sales $425,000 Answer 550,000 Answer Direct materials 75,000 105,000 Answer 105,000 Direct labor 25,000 Answer 100,000 Answer Total direct costs Answer 160,000 Answer 150,000 Conversion cost Answer 130,000 Answer Answer Manufacturing overhead 40,000 Answer 50,000 Answer Current manufacturing costs Answer Answer 475,000 395,000 Work in process, beginning 35,000 50,000 Answer 105,000 Work in process, ending 25,000 Answer 105,000 Answer Cost of goods manufactured Answer 160,000 Answer 410,000 Finished goods inventory, beginning 45,000 40,000 35,000 60,000 Finished goods inventory, ending 30,000 Answer 40,000 Answer Cost of goods sold Answer 175,000 Answer 400,000 Gross profit Answer Answer 90,000 75,000 Selling and administrative expenses 100,000 75,000 Answer Answer Net income Answer 110,000 60,000 30,000
Account Activity and Relationships Each case is independent. Solve for missing data in alphabetical order. (Hint: Refer to Exhibit 18.6, p. 18-17 and the WIP table, p. 18-25.) Case A Case B Case C Case D Sales $425,000 Answer 550,000 Answer Direct materials 75,000 105,000 Answer 105,000 Direct labor 25,000 Answer 100,000 Answer Total direct costs Answer 160,000 Answer 150,000 Conversion cost Answer 130,000 Answer Answer Manufacturing overhead 40,000 Answer 50,000 Answer Current manufacturing costs Answer Answer 475,000 395,000 Work in process, beginning 35,000 50,000 Answer 105,000 Work in process, ending 25,000 Answer 105,000 Answer Cost of goods manufactured Answer 160,000 Answer 410,000 Finished goods inventory, beginning 45,000 40,000 35,000 60,000 Finished goods inventory, ending 30,000 Answer 40,000 Answer Cost of goods sold Answer 175,000 Answer 400,000 Gross profit Answer Answer 90,000 75,000 Selling and administrative expenses 100,000 75,000 Answer Answer Net income Answer 110,000 60,000 30,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
100%
Account Activity and Relationships
Each case is independent. Solve for missing data in alphabetical order. (Hint: Refer to Exhibit 18.6, p. 18-17 and the WIP table, p. 18-25.)
| Case A | Case B | Case C | Case D | ||
|---|---|---|---|---|---|
| Sales | $425,000 | Answer
|
550,000 | Answer
|
|
| Direct materials | 75,000 | 105,000 | Answer
|
105,000 | |
| Direct labor | 25,000 | Answer
|
100,000 | Answer
|
|
| Total direct costs | Answer
|
160,000 | Answer
|
150,000 | |
| Conversion cost | Answer
|
130,000 | Answer
|
Answer
|
|
| Manufacturing overhead | 40,000 | Answer
|
50,000 | Answer
|
|
| Current |
Answer
|
Answer
|
475,000 | 395,000 | |
| Work in process, beginning | 35,000 | 50,000 | Answer
|
105,000 | |
| Work in process, ending | 25,000 | Answer
|
105,000 | Answer
|
|
| Cost of goods manufactured | Answer
|
160,000 | Answer
|
410,000 | |
| Finished goods inventory, beginning | 45,000 | 40,000 | 35,000 | 60,000 | |
| Finished goods inventory, ending | 30,000 | Answer
|
40,000 | Answer
|
|
| Cost of goods sold | Answer
|
175,000 | Answer
|
400,000 | |
| Gross profit | Answer
|
Answer
|
90,000 | 75,000 | |
| Selling and administrative expenses | 100,000 | 75,000 | Answer
|
Answer
|
|
| Net income | Answer
|
110,000 | 60,000 | 30,000 |
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