A manufacturer reports the information below. Finished goods inventory, beginning Finished goods inventory, ending Depreciation on factory equipment Direct labor Indirect labor Factory utilities Selling expenses Direct materials used Indirect materials used Office rent expense Work in process inventory, beginning Work in process inventory, ending Complete this question by entering your answers in the tabs below. Required A Required B Compute cost of goods sold for the period. Goods available for sale Cost of goods sold $ 8,200 9,140 4,800 84,000 36,700 3,200 750 55,900 700 1,200 1,600 2,400 $ 0

A manufacturer reports the information below. Finished goods inventory, beginning Finished goods inventory, ending Depreciation on factory equipment Direct labor Indirect labor Factory utilities Selling expenses Direct materials used Indirect materials used Office rent expense Work in process inventory, beginning Work in process inventory, ending Complete this question by entering your answers in the tabs below. Required A Required B Compute cost of goods sold for the period. Goods available for sale Cost of goods sold $ 8,200 9,140 4,800 84,000 36,700 3,200 750 55,900 700 1,200 1,600 2,400 $ 0

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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eBook Show Me How Calculator E Print Item Cost of Goods Sold, Cost of Goods Manufactured Timbuk 3 Company has the following information for March: Cost of direct materials used in production $65,000 Direct labor 75,000 Factory overhead 27,000 Work in process inventory, March 1 54,000 Work in process inventory, March 31 41,990 Finished goods inventory, March 1 24,000 Finished goods inventory, March 31 16,000 a. For March, determine the cost of goods manufactured. く Using the data given, prepare a statement of Cost of Goods Manufactured. Timbuk 3 Company Statement of Cost of Goods Manufactured KSHEET.A... 24 $4 Total manufacturing costs incurred during March Total manufacturing costs NKSHEET.A... LANKSHEET Cost of goods manufactured CEL.ALGO Check My Work 5 more Check My Work uses remaining. D items : 30% All work saved. MacBook Pro 20 F1 F2 F3 F4 F5 F6 F7 F8 %23 LC
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Question 1. Case 2. Book problem. Incomplete manufacturing costs, expenses and selling data for two different cases are shown below: Required: 1. Indicate the missing amount for each letter 2. Prepare a schedule of cost of goods manufactured 3. Prepare a schedule of cost of goods sold 4. Prepare an income statement (Optional) Case 1 Case 2 Raw materials used 9,600 g) Direct labor cost 5,000 8,000 Total Factory overhead 8,000 4,000 Total Manufacturing costs a) 16,000 Beginning work in process inventory 1,000 h) Ending work in process inventory b) 3,000 Sales revenue 24,500 i)…
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