GigaBite Company's computer system recently crashed, erasing much of the company's financial data. The following accounting information was discovered soon afterwards on the Chief Financial Officer's back-up computer data. Cost of Goods Sold $ 393,000 Work-in-Process Inventory, Beginning 33,250 Work-in-Process Inventory, Ending 43,900 Selling and Administrative Expense 55,850 Finished Goods Inventory, Ending 16,950 Finished Goods Inventory, Beginning? Direct Materials Purchased 185,300 Factory Overhead Applied 131,500 Operating Income 29, 150 Direct Materials Inventory, Beginning 21,900 Direct Materials Inventory, Ending 6,650 Cost of Goods Manufactured 353,000 Direct Labor 64,750 The Chief Financial Officer of GigaBite Company has asked you to recalculate the following accounts and report to him by week's end. What should be the amount of direct materials available for use? Multiple Choice $131,500 $200, 550. $207,200 $224,150. $208,900.

GigaBite Company's computer system recently crashed, erasing much of the company's financial data. The following accounting information was discovered soon afterwards on the Chief Financial Officer's back-up computer data. Cost of Goods Sold $ 393,000 Work-in-Process Inventory, Beginning 33,250 Work-in-Process Inventory, Ending 43,900 Selling and Administrative Expense 55,850 Finished Goods Inventory, Ending 16,950 Finished Goods Inventory, Beginning? Direct Materials Purchased 185,300 Factory Overhead Applied 131,500 Operating Income 29, 150 Direct Materials Inventory, Beginning 21,900 Direct Materials Inventory, Ending 6,650 Cost of Goods Manufactured 353,000 Direct Labor 64,750 The Chief Financial Officer of GigaBite Company has asked you to recalculate the following accounts and report to him by week's end. What should be the amount of direct materials available for use? Multiple Choice $131,500 $200, 550. $207,200 $224,150. $208,900.

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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