Direct materials purchases Work-in-process inventory, November 1 Finished goods inventory, November 1 Finished goods inventory, October 31 Manufacturing overhead Cost of goods sold Direct labor Decrease in work-in-process inventory Average sales price per unit Gross margin percentage Required: a. Find the cost of goods manufactured. b. Find the total manufacturing costs. c. Find the direct materials used. d. Find the sales revenue. Note: Round your answer to the nearest whole dollar. e. Find the increase (decrease) in direct materials inventory. $ 96,000 68,000 45,800 46,800 72,600 436,475 45,400 43,000 20 35%
Direct materials purchases Work-in-process inventory, November 1 Finished goods inventory, November 1 Finished goods inventory, October 31 Manufacturing overhead Cost of goods sold Direct labor Decrease in work-in-process inventory Average sales price per unit Gross margin percentage Required: a. Find the cost of goods manufactured. b. Find the total manufacturing costs. c. Find the direct materials used. d. Find the sales revenue. Note: Round your answer to the nearest whole dollar. e. Find the increase (decrease) in direct materials inventory. $ 96,000 68,000 45,800 46,800 72,600 436,475 45,400 43,000 20 35%
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Dinesh bhai
Transcribed Image Text:Gates Manufacturing reports based on an October 31 fiscal year. As a part of your interview for a cost analyst position, the interviewer
provides you with the following information:
Direct materials purchases
Work-in-process inventory, November 1
Finished goods inventory, November 1
Finished goods inventory, October 31
Manufacturing overhead
Cost of goods sold
Direct labor
Decrease in work-in-process inventory
Average sales price per unit
Gross margin percentage
Required:
a. Find the cost of goods manufactured.
b. Find the total manufacturing costs.
c. Find the direct materials used.
d. Find the sales revenue.
Note: Round your answer to the nearest whole dollar.
e. Find the increase (decrease) in direct materials inventory.
a.
Cost of goods manufactured
b.
Total manufacturing costs
C.
Direct materials used
d. Sales revenue
e
$ 96,000
68,000
45,800
46,800
72,600
436,475
45,400
43,000
20
35%
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