Fill in the missing data for Company E: Direct materials used 6,000 Direct labor cost (A) Overhead 7,000 WIP, Jan 1 2,000 WIP, Dec 31 (B) Total manufacturing costs 18,000 Sales revenue 30,000 Finished Goods, Jan 1 7,000 Cost of good available for sale 23,000 Cost of goods manufactured (C) Finished goods Dec 31 (D) Cost of goods sold 18,000 Gross margin (E) Operating expenses (F) Operating Income (before taxes) 3,000
Fill in the missing data for Company E: Direct materials used 6,000 Direct labor cost (A) Overhead 7,000 WIP, Jan 1 2,000 WIP, Dec 31 (B) Total manufacturing costs 18,000 Sales revenue 30,000 Finished Goods, Jan 1 7,000 Cost of good available for sale 23,000 Cost of goods manufactured (C) Finished goods Dec 31 (D) Cost of goods sold 18,000 Gross margin (E) Operating expenses (F) Operating Income (before taxes) 3,000
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter2: Basic Cost Management Concepts
Section: Chapter Questions
Problem 21E: Ellerson Company provided the following information for the last calendar year: During the year,...
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Question
Fill in the missing data for Company E:
Direct materials used 6,000
Direct labor cost (A)
WIP, Jan 1 2,000
WIP, Dec 31 (B)
Total
Sales revenue 30,000
Finished Goods, Jan 1 7,000
Cost of good available for sale 23,000
Cost of goods manufactured (C)
Finished goods Dec 31 (D)
Cost of goods sold 18,000
Gross margin (E)
Operating expenses (F)
Operating Income (before taxes) 3,000
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