Materials inventory, December 1 Materials inventory, December 31 Materials purchased Cost of direct materials used in production Direct labor Factory overhead Total manufacturing costs incurred in December Total manufacturing costs Work in process inventory, December 1 Work in process inventory, December 31 Cost of goods manufactured Finished goods inventory, December 1 Finished goods inventory, December 31 Sales Cost of goods sold Gross profit Operating expenses Net income Required: a. b. On Off Company Company $59,040 $77,930 (a) 88,060 149,960 158,230 222,580 69,080 (b) C. 563,250 113,360 95,640 (c) 99,780 104,500 870,250 (d) (e) 113,360 (f) (a) (b) 175,340 87,280 504,210 692,020 187,810 (c) 499,530 87,280 (d) 779,300 504,210 1. Determine the amounts of the missing items, identifying them by letter. Enter all amounts as positive numbers. Letter On Company Off Company (e) (f) 173,000
Materials inventory, December 1 Materials inventory, December 31 Materials purchased Cost of direct materials used in production Direct labor Factory overhead Total manufacturing costs incurred in December Total manufacturing costs Work in process inventory, December 1 Work in process inventory, December 31 Cost of goods manufactured Finished goods inventory, December 1 Finished goods inventory, December 31 Sales Cost of goods sold Gross profit Operating expenses Net income Required: a. b. On Off Company Company $59,040 $77,930 (a) 88,060 149,960 158,230 222,580 69,080 (b) C. 563,250 113,360 95,640 (c) 99,780 104,500 870,250 (d) (e) 113,360 (f) (a) (b) 175,340 87,280 504,210 692,020 187,810 (c) 499,530 87,280 (d) 779,300 504,210 1. Determine the amounts of the missing items, identifying them by letter. Enter all amounts as positive numbers. Letter On Company Off Company (e) (f) 173,000
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter1: Introduction To Managerial Accounting
Section: Chapter Questions
Problem 4PA: Manufacturing income statement, statement of cost of goods manufactured Several items are omitted...
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