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
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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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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