Two items are omitted from each of the following three lists of cost of goods manufactured statement data. Determine the amounts of the missing items, identifying them by letter. Work in process inventory, August 1 $2,800 $23,800 (e) Total manufacturing costs incurred during August 19,000 (c) 139,200 Total manufacturing costs (a) $278,500 $151,100 Work in process inventory, August 31 4,100 58,500 (f) Cost of goods manufactured (b) (d) $126,900 a. $fill in the blank 1 b. $fill in the blank 2 c. $fill in the blank 3 d. $fill in the blank 4 e. $fill in the blank 5 f. $fill in the blank 6
Two items are omitted from each of the following three lists of cost of goods manufactured statement data. Determine the amounts of the missing items, identifying them by letter. Work in process inventory, August 1 $2,800 $23,800 (e) Total manufacturing costs incurred during August 19,000 (c) 139,200 Total manufacturing costs (a) $278,500 $151,100 Work in process inventory, August 31 4,100 58,500 (f) Cost of goods manufactured (b) (d) $126,900 a. $fill in the blank 1 b. $fill in the blank 2 c. $fill in the blank 3 d. $fill in the blank 4 e. $fill in the blank 5 f. $fill in the blank 6
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Two items are omitted from each of the following three lists of cost of goods manufactured statement data. Determine the amounts of the missing items, identifying them by letter.
| Work in process inventory, August 1 | $2,800 | $23,800 | (e) | ||
| Total |
19,000 | (c) | 139,200 | ||
| Total manufacturing costs | (a) | $278,500 | $151,100 | ||
| Work in process inventory, August 31 | 4,100 | 58,500 | (f) | ||
| Cost of goods manufactured | (b) | (d) | $126,900 |
| a. | $fill in the blank 1 |
| b. | $fill in the blank 2 |
| c. | $fill in the blank 3 |
| d. | $fill in the blank 4 |
| e. | $fill in the blank 5 |
| f. | $fill in the blank 6 |
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A cost sheet is a method of allocating total cost into different categories such as direct material consumed, prime cost, cost of goods manufactured, etc.
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