An auditor for the Internal Revenue Service is trying to reconstruct some partially destroyed records of two taxpaye (Click the icon to view the records.) Requirement For each of the cases, find the unknowns designated by the letters A and B for Case 1 and C and D for Case 2. Cost of goods sold Finally, complete the schedule of cost of goods manufactured to solve for D. Manufacturing overhead costs. Direct materials used Direct manufacturing labor Manufacturing overhead costs 17000 7600

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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An auditor for t
BEE (Click the
Requirement
For each of the
Case 1: Find th
First, solve for
Revenues
Cost of goods
Gross margin
Next complete
Direct materia
Direct manufa
Manufacturing
An auditor for t
(Click the i
Requirement
For each of the
Case 1: Find th
First, solve for
Data table
Show Transcribed Text
Revenues
Cost of goods
ross margin
ext complete
Direct material
Accounts receivable, December 31
Cost of goods sold
Accounts payable, January 1
Accounts payable, December 31
Finished-goods inventory, December 31
Gross margin
Work-in-process inventory, January 1
Work-in-process inventory, December 31
Finished-goods inventory, January 1
Direct materials used
MacBook Pro
Print
Data table
Accounts payable, January 1
Accounts payable, December 31
Finished-goods inventory, December 31
Gross margin
Work-in-process inventory, January 1
Work-in-process inventory, December 31
Finished-goods inventory, January 1
Direct materials used
Direct manufacturing labor
Manufacturing overhead costs
Purchases of direct materials
Revenues
Accounts receivable, January 1
Case 1 Case 2
(in thousands)
c
$10,000 $
A
4,400
2,800
B
Done
16,300
2,600
0
12,000
7,000
4,400
2,800
3,160
1,860
6,400
C
1,000
4,500
12,000
11,000
7,000 17,000
4,700
7,600
7,200
D
14,800
8,500
44,000
47,200
1,000 2,400
A 700
B
16,300
2,600
0
1,540
29,000
3,160
1,860
6,400
C
1,000
4,500
11,000
17,000
7.600
taxpayers.
se 2.
se 2.
for any zero ba
iz: 6 point(s) possible
Xestion: 1 point(s) possil
taxpayers.
for any zero balances.)
Transcribed Image Text:An auditor for t BEE (Click the Requirement For each of the Case 1: Find th First, solve for Revenues Cost of goods Gross margin Next complete Direct materia Direct manufa Manufacturing An auditor for t (Click the i Requirement For each of the Case 1: Find th First, solve for Data table Show Transcribed Text Revenues Cost of goods ross margin ext complete Direct material Accounts receivable, December 31 Cost of goods sold Accounts payable, January 1 Accounts payable, December 31 Finished-goods inventory, December 31 Gross margin Work-in-process inventory, January 1 Work-in-process inventory, December 31 Finished-goods inventory, January 1 Direct materials used MacBook Pro Print Data table Accounts payable, January 1 Accounts payable, December 31 Finished-goods inventory, December 31 Gross margin Work-in-process inventory, January 1 Work-in-process inventory, December 31 Finished-goods inventory, January 1 Direct materials used Direct manufacturing labor Manufacturing overhead costs Purchases of direct materials Revenues Accounts receivable, January 1 Case 1 Case 2 (in thousands) c $10,000 $ A 4,400 2,800 B Done 16,300 2,600 0 12,000 7,000 4,400 2,800 3,160 1,860 6,400 C 1,000 4,500 12,000 11,000 7,000 17,000 4,700 7,600 7,200 D 14,800 8,500 44,000 47,200 1,000 2,400 A 700 B 16,300 2,600 0 1,540 29,000 3,160 1,860 6,400 C 1,000 4,500 11,000 17,000 7.600 taxpayers. se 2. se 2. for any zero ba iz: 6 point(s) possible Xestion: 1 point(s) possil taxpayers. for any zero balances.)
An auditor for the Internal Revenue Service is trying to reconstruct some partially destroyed records of two taxpayers.
(Click the icon to view the records.)
Requirement
For each of the cases, find the unknowns designated by the letters A and B for Case 1 and C and D for Case 2.
Cost of goods sold
Finally, complete the schedule of cost of goods manufactured to solve for D. Manufacturing overhead costs.
Direct materials used
Direct manufacturing labor
Manufacturing overhead costs
Total manufacturing costs incurred
Work-in-process inventory, 1/1
Total manufacturing costs to account for
Work-in-process inventory, 12/31
Cnet of nonde manufacturad
17000
7600
1000
4500
Transcribed Image Text:An auditor for the Internal Revenue Service is trying to reconstruct some partially destroyed records of two taxpayers. (Click the icon to view the records.) Requirement For each of the cases, find the unknowns designated by the letters A and B for Case 1 and C and D for Case 2. Cost of goods sold Finally, complete the schedule of cost of goods manufactured to solve for D. Manufacturing overhead costs. Direct materials used Direct manufacturing labor Manufacturing overhead costs Total manufacturing costs incurred Work-in-process inventory, 1/1 Total manufacturing costs to account for Work-in-process inventory, 12/31 Cnet of nonde manufacturad 17000 7600 1000 4500
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