FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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G The following events took place
m/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false
+
23
L8)
eBook
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Cost Flow Relationships
The following information is available for the first month of operations of Bahadir Company, a manufacturer of mechanical pencils:
Sales
$451,170
Gross profit
263,030
Cost of goods manufactured
225,590
Indirect labor
97,900
Factory depreciation
14,890
Materials purchased
138,960
Total manufacturing costs for the period
259,420
Materials inventory, ending
18,500
Using the above information, determine the following missing amounts:
a. Cost of goods sold
b. Finished goods inventory at the end of the month
c. Direct materials cost
d. Direct labor cost
e. Work in process inventory at the end of the month
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Check My Work
a. Sales minus gross profit = cost of goods sold.
b. Subtract the cost of goods sold from the cost of goods manufactured.
Check My Work
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Transcribed Image Text:G The following events took place m/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false + 23 L8) eBook Show Me How Cost Flow Relationships The following information is available for the first month of operations of Bahadir Company, a manufacturer of mechanical pencils: Sales $451,170 Gross profit 263,030 Cost of goods manufactured 225,590 Indirect labor 97,900 Factory depreciation 14,890 Materials purchased 138,960 Total manufacturing costs for the period 259,420 Materials inventory, ending 18,500 Using the above information, determine the following missing amounts: a. Cost of goods sold b. Finished goods inventory at the end of the month c. Direct materials cost d. Direct labor cost e. Work in process inventory at the end of the month Feedback Check My Work a. Sales minus gross profit = cost of goods sold. b. Subtract the cost of goods sold from the cost of goods manufactured. Check My Work Save and Exit Su
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