For each company, find the unknown amounts designated by numbers. Each case is independent. Direct materials, Jan. 1 Direct materials, Dec. 31 Direct labor Factory overhead Purchases of direct materials Co. A P 12,800 10,800 36,000 58,000 18,000 Co. B (6) 9,200 16,000 15,200 14,00 Co. C P 13,800 11,000 (11) 26,000 (12) Co. D P 3,000 (16) 12,000 (17) 16,000
For each company, find the unknown amounts designated by numbers. Each case is independent. Direct materials, Jan. 1 Direct materials, Dec. 31 Direct labor Factory overhead Purchases of direct materials Co. A P 12,800 10,800 36,000 58,000 18,000 Co. B (6) 9,200 16,000 15,200 14,00 Co. C P 13,800 11,000 (11) 26,000 (12) Co. D P 3,000 (16) 12,000 (17) 16,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Variance Analysis
In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance.
Standard Costing
The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.
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Transcribed Image Text:For each company, find the unknown amounts designated by numbers. Each case is
independent.
Direct materials, Jan. 1
Direct materials, Dec. 31
Direct labor
Factory overhead
Purchases of direct materials
Direct materials used
Sales
Cost of goods sold
Cost of goods manufactured
Total manufacturing costs
Finished goods, Jan. 1
Finished goods, Dec. 31
Gross profit
Work in process, Jan. 1
Work in process, Dec. 31
Co. A
P 12,800
10,800
36,000
58,000
18,000
(1)
(2)
100,000
(4)
16,000
10,600
22,600
(5)
4,000
Co. B
(6)
9,200
16,000
15,200
14,00
(7)
67,600
44,000
(8)
43,000
8,000
10,600
(9)
9,600
(10)
Co. C
P 13,800
11,000
(11)
26,000
(12)
18,800
110,000
(13)
(14)
(15)
15,600
12,400
24,000
2,600
600
Co. D
P 3,000
(16)
12,000
(17)
16,000
11,200
80,000
34,000
36,200
36,200
12,00
(18)
(19)
(20)
5,000
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