fit - Expenses = aterials Direct Labor = Manufacturing Costs = Cost of Goods Manufactured : WTD
fit - Expenses = aterials Direct Labor = Manufacturing Costs = Cost of Goods Manufactured : WTD
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
May i know the correct answers for both of it
Transcribed Image Text:1. Direct Labor + Factory Overhead =
2. Raw Materials Inventory, beg.
Purchases - Freight in =
3. Direct Materials + Direct Labor +
Factory Overhead =
4. Raw Materials Available for Use
Raw Materials Inv., end =
5. Sales
Cost of Goods Sold =
6. Gross Profit
Expenses =
7. Direct Materials + Direct Labor =
8. WIP, beg. + Manufacturing Costs =
9. FG, beg. + Cost of Goods Manufactured =
10. Goods Placed in Process
WIP, end =
CHOICES:
A Manufacturing Cost
B Raw Materials Used
C Gross Profit
D Net Income (Loss)
E Prime cost
F Goods Placed in Process
G Cost of Goods Manufactured
H Conversion Cost
I
Raw Materials Available for Use
J
Merchandise Available for Sale
K
Cost of Goods Sold
L Net Sales
M Raw Materials Inv., beginning
N Raw Materials Inv., end
O Work - in - Process Inv., beginning
Work - in - Process Inv., end
Q Finished Goods Inv., beginning
R Finished Goods Inv., end
P
Transcribed Image Text:1. Merchandise Available for Sale
- FG, end =
2. Sales
(Sales Returns and Sales Discount) =
%3D
3. Cost of Goods Manufactured + WIP, end =
4. Cost of Goods Sold + FG, end =
5. Merchandise Available for Sale
Cost of Goods Manufactured =
6. Goods in Process
Manufacturing Cost =
%3D
7. Merchandise Available for Sales
FG, beginning =
%3D
8. Goods in Process
WIP, beginning =
%3D
9. Gross Profit +
Cost of Goods Sold
%3D
10. Net Income
Expenses =
%3D
СHOICES:
A Manufacturing Cost
B Raw Materials Used
C Gross Profit
D Net Income (Loss)
E Prime cost
F Goods Placed in Process
G Cost of Goods Manufactured
H Conversion Cost
I
Raw Materials Available for Use
J Merchandise Available for Sale
K Cost of Goods Sold
L Net Sales
M Raw Materials Inv., beginning
N Raw Materials Inv., end
O Work - in - Process Inv., beginning
Work - in - Process Inv.,
end
Q Finished Goods Inv., beginning
R Finished Goods Inv., end
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