Please do not give solution in image format Incomplete manufacturing costs, expenses, and selling data for two different cases are as follows.Indicate the missing amount for each letter.Direct materials usedDirect laborManufacturing overheadTotal manufacturing costsBeginning work in process inventoryEnding work in process inventorySales revenueSales discountsCost of goods manufacturedBeginning finished goods inventoryGoods available for saleCost of goods soldEnding finished goods inventoryGross profitOperating expensesNet income1$10,0605,1808,8201,41025,3902,73017,18022,2403,590Prepare a condensed cost of goods manufactured schedule fo2,820(a)(b)(c)(d)(e)(f)ase 1.Case$CASE 1Cost of Goods Manufactured Schedule28,2904,28017,0103.6601.99022,9004,3203,010(g)00S(k)7,8705,100(1) CASE 1Income StatementPrepare the current assets section of the balance sheet for Case 1. Assume that in Case 1 the other items in the current assetssection are as follows: Cash $3.550, Receivables (net) $15.,800, Raw Materials $620, and Prepaid Expenses $430. (List CurrentAssets 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 assetssection are as follows: Cash $3,550, Receivables (net) $15,800, Raw Materials $620, and Prepaid Expenses $430. (List CurrentAssets in order of liquidity)CASE 1(Partial) Balance Sheet

Cost of goods manufactured - The cost of goods manufactured is calculated as follows - Total…

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

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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