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Incomplete manufacturing costs, expenses, and selling data for two different cases are as follows. Indicate the missing amount for each letter. Direct materials used Direct labor Manufacturing overhead Total manufacturing costs Beginning work in process inventory Ending work in process inventory Sales revenue Sales discounts Cost of goods manufactured Beginning finished goods inventory Goods available for sale Cost of goods sold Ending finished goods inventory Gross profit Operating expenses Net income $10,060 5,180 8,820 1,410 25,390 2,730 17.180 22.240 3.590 2,820 3 (a) (c) (1) Case 2 8,290 4,280 17,010 3,660 1.990 22.900 4,320 3.010 (8) (h) (10) S 8 (k) 7,870 5,100

Incomplete manufacturing costs, expenses, and selling data for two different cases are as follows. Indicate the missing amount for each letter. Direct materials used Direct labor Manufacturing overhead Total manufacturing costs Beginning work in process inventory Ending work in process inventory Sales revenue Sales discounts Cost of goods manufactured Beginning finished goods inventory Goods available for sale Cost of goods sold Ending finished goods inventory Gross profit Operating expenses Net income $10,060 5,180 8,820 1,410 25,390 2,730 17.180 22.240 3.590 2,820 3 (a) (c) (1) Case 2 8,290 4,280 17,010 3,660 1.990 22.900 4,320 3.010 (8) (h) (10) S 8 (k) 7,870 5,100

FINANCIAL ACCOUNTING
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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Incomplete manufacturing costs, expenses, and selling data for two different cases are as follows. Indicate the missing amount for each letter. Direct materials used Direct labor Manufacturing overhead Total manufacturing costs Beginning work in process inventory Ending work in process inventory Sales revenue Sales discounts Cost of goods manufactured Beginning finished goods inventory Goods available for sale Cost of goods sold Ending finished goods inventory Gross profit Operating expenses Net income 1 $10,060 5,180 8,820 1,410 25,390 2,730 17,180 22,240 3,590 Prepare a condensed cost of goods manufactured schedule fo 2,820 (a) (b) (c) (d) (e) (f) ase 1. Case $ CASE 1 Cost of Goods Manufactured Schedule 2 8,290 4,280 17,010 3.660 1.990 22,900 4,320 3,010 (g) 00 S (k) 7,870 5,100 (1)
Transcribed Image Text:Incomplete manufacturing costs, expenses, and selling data for two different cases are as follows. Indicate the missing amount for each letter. Direct materials used Direct labor Manufacturing overhead Total manufacturing costs Beginning work in process inventory Ending work in process inventory Sales revenue Sales discounts Cost of goods manufactured Beginning finished goods inventory Goods available for sale Cost of goods sold Ending finished goods inventory Gross profit Operating expenses Net income 1 $10,060 5,180 8,820 1,410 25,390 2,730 17,180 22,240 3,590 Prepare a condensed cost of goods manufactured schedule fo 2,820 (a) (b) (c) (d) (e) (f) ase 1. Case $ CASE 1 Cost of Goods Manufactured Schedule 2 8,290 4,280 17,010 3.660 1.990 22,900 4,320 3,010 (g) 00 S (k) 7,870 5,100 (1)
CASE 1 Income Statement Prepare the current assets section of the balance sheet for Case 1. Assume that in Case 1 the other items in the current assets section are as follows: Cash $3.550, Receivables (net) $15.,800, Raw Materials $620, and Prepaid Expenses $430. (List Current Assets in order of liquidity) Prepare the current assets section of the balance sheet for Case 1. Assume that in Case 1 the other items in the current assets section are as follows: Cash $3,550, Receivables (net) $15,800, Raw Materials $620, and Prepaid Expenses $430. (List Current Assets in order of liquidity) CASE 1 (Partial) Balance Sheet
Transcribed Image Text:CASE 1 Income Statement Prepare the current assets section of the balance sheet for Case 1. Assume that in Case 1 the other items in the current assets section are as follows: Cash $3.550, Receivables (net) $15.,800, Raw Materials $620, and Prepaid Expenses $430. (List Current Assets in order of liquidity) Prepare the current assets section of the balance sheet for Case 1. Assume that in Case 1 the other items in the current assets section are as follows: Cash $3,550, Receivables (net) $15,800, Raw Materials $620, and Prepaid Expenses $430. (List Current Assets in order of liquidity) CASE 1 (Partial) Balance Sheet
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