Indicate missing amount in case 2 Case1Direct materials used$ 9,600$ (g)Direct labor5,0008,0008,0004,000Manufacturing overheadTotal manufacturing costsBeginning work in process inventoryEnding work in process inventory(a)1,00016,000(h)(b)24,5003,000(i)Sales revenueSales discounts2,50017,0001,40024,000Cost of goods manufacturedBeginning finished goods inventoryCost of goods available for saleCost of goods soldEnding finished goods inventoryGross profitOperating expenses(c)22,0003,300(d)3,400(j)(k)2,500(e)2,5007,000(1)5,000Net income(f)

Total manufacturing costs = Direct material used + Direct Labour + Manufacturing Overhead Cost of…

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Business

Accounting

Indicate missing amount in case 2

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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Question

100%

Indicate missing amount in case 2

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

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