-Incomplete manufacturing costs, expenses, and selling data for two different cases follows. Case Direct materials used Direct labor Manufacturing overhead Total manufacturing costs Beginning work in process inventory Ending work in process inventory Sales revenue Sales discounts $ 9,600 5,000 8,000 (a) 1,000 (b) 24,500 2,500 17,000 (c) 20,000 $ (g) 8,000 4,000 16,000 (h) 3,000 (i) 1,400 22,000 3,300 Cost of goods manufactured Beginning finished goods inventory Goods available for sale Cost of goods sold Ending finished goods inventory Gross profit Operating expenses (d) 3,400 (e) 2,500 (f) () (k) 2,500 7,000 (1) 5,000 Net income

-Incomplete manufacturing costs, expenses, and selling data for two different cases follows. Case Direct materials used Direct labor Manufacturing overhead Total manufacturing costs Beginning work in process inventory Ending work in process inventory Sales revenue Sales discounts $ 9,600 5,000 8,000 (a) 1,000 (b) 24,500 2,500 17,000 (c) 20,000 $ (g) 8,000 4,000 16,000 (h) 3,000 (i) 1,400 22,000 3,300 Cost of goods manufactured Beginning finished goods inventory Goods available for sale Cost of goods sold Ending finished goods inventory Gross profit Operating expenses (d) 3,400 (e) 2,500 (f) () (k) 2,500 7,000 (1) 5,000 Net income

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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Gurtner Corporation has provided the following data concerning last month’s operations. Cost of goods manufactured $170,000 Underapplied overhead $ 4,000 Beginning Ending Finished goods inventory $33,000 $40,000 Any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold. How much is the adjusted cost of goods sold on the Schedule of Cost of Goods Sold? Multiple Choice A. $170,000 B. $167,000 C. $203,000 D. $163,000
For each of the following independent cases (A through E), compute the missing values in the table: Case A B C D E Prime Cost 6,990 11,640 Conversion Cost 11,570 7,940 20,550 Direct Materials $ 2,110 $ 2,200 1,450 3,410 Direct Manufacturing Labor Overhead 1,130 $ 3,120 2,060 3,500 6,780 2,960 Total Manufacturing Cost 9,390 5,860
Domestic
None
For each of the following independent cases (1 to 4), compute the missing values. Note: Enter all amounts as positive values. Beginning raw materials Raw materials purchases Indirect materials issued Ending raw materials Direct materials used Direct labor Manufacturing overhead applied Total current manufacturing costs Beginning work in process Ending work in process Cost of goods manufactured Beginning finished goods Ending finished goods Cost of goods sold Case 1 $ 6,200 53,000 900 1,700 36,000 62,000 45,000 134,000 78,000 80,000 Case 2 11,550 2,000 2,450 13,500 39,450 80,600 38,600 73,800 31,900 74,000 Case 3 $ 30,000 49,640 1,400 32,720 29,280 94,000 42,950 90,125 53,200 113,075 Case 4 $ 94,000 3,600 94,200 121,750 540,930 101,920 238,100 831,900 398,500 845,400
For each of the following independent cases (A to E), compute the missing values in the table: Total Manufacturing Cost Case A B CO C D E Prime Conversion Direct Cost Cost Direct Manufacturing Materials Labor Overhead $ 9,560 $ 16,470 $ 3,950 10,130 41,500 20,500 57,300 110,600 48,750 7,400 12,650 14,400 $ 10,860 25,200 24,300 42,730 69,250 57,500
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