need Part B solution now i have already part A solution i attacheed here also
i need Part B solution now i have already part A solution i attacheed here also
a). Total
Total manufacturing cost = 9,700 + 5,100 + 8,400
= $23,200
b). Cost of Goods manufactured = Total manufacturing cost + Beginning WIP - Ending WIP
17,100 = 23,200 + 1,100 - Ending WIP
17,100 = 24,300 - Ending WIP
Ending WIP = 6,100
c). Goods available for sale = Cost of goods manufactured + Beginning Finished Goods
22,100 = 17,100 + Beginning Finished goods inventory
Beginning Finished Goods Inventory = 5,000
d). Cost of Goods sold = Goods available for sale - Ending Finished Goods Inventory
Cost of Goods sold = 22,100 - 3,500
= $18,600
e). Gross Profit = Net Sales - Cost of goods sold
= (Sales revenue - Sales discounts) - Cost of goods sold
= (25,000 - 2,600) - 18,600
= 3,800
f). Net Income = Gross Profit - Operating Expense
= 3,800 - 2,800
= 1,000
g). Direct Material Used = Total Manufacturing cost - Direct labor - Manufacturing Overhead
= 16,100 - 8,100 - 4,100
= 3,900
h). Beginning WIP Inventory = Cost of goods manufactured - Total manufacturing cost + Ending WIP Inventory
= 22,100 - 16,100 + 3,100
= 9,100
i). Net sales = Gross Profit + Cost of goods sold
= 7,100 + 22,900
= 30,000
Net sales = Sales revenue - Sales discounts
30,000 = Sales revenue - 1,500
Sales revenue = 31,500
j). Goods available for sale = Cost of Goods manufactured + Beginning Finished Goods Inventory
= 22,100 + 3,400
= 25,500
k). Cost of Goods sold = Goods available for sale - Ending Finished Goods Inventory
= 25,500 - 2,600
= 22,900
l). Operating Expense = Gross Profit - Net Income
= 7,100 - 5,100
= 2,000
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