Indicate the missing amount for each letter. Case 1 2 Direct materials used $9,700 Direct labor 5,100 8,100 Manufacturing overhead 8,400 4,100 Total manufacturing costs (a) 16,100 Beginning workin process inventory 1,100 (h) Ending work in process inventory (b) 3,100 Sales revenue 25,000 (1) Sales discounts 2,600 1,500 Cost of goods manufactured 17,100 22,100 Beginning finished goods inventory (c) 3,400
Indicate the missing amount for each letter. Case 1 2 Direct materials used $9,700 Direct labor 5,100 8,100 Manufacturing overhead 8,400 4,100 Total manufacturing costs (a) 16,100 Beginning workin process inventory 1,100 (h) Ending work in process inventory (b) 3,100 Sales revenue 25,000 (1) Sales discounts 2,600 1,500 Cost of goods manufactured 17,100 22,100 Beginning finished goods inventory (c) 3,400
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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i need part C solution
Transcribed Image Text:Incomplete manufacturing costs, expenses, and selling data for two different cases are as follows.
(a)
Indicate the missing amount for each letter.
Case
Direct materials used
$9,700
Direct labor
5,100
8,100
Manufacturing overhead
8,400
4,100
Total manufacturing costs
16,100
Beginning work in process inventory
1,100
(h)
Ending work in process inventory
(b)
3,100
Sales revenue
25,000
(i)
Sales discounts
2,600
1,500
Cost of goods manufactured
17,100
22,100
Beginning finished goods inventory
(c)
3,400
Beginning finished goods inventory
(c)
3,400
Goods available for sale
22,100
(6)
Cost of goods sold
(d)
(k)
Ending finished goods inventory
3,500
2,600
Gross profit
(e)
7,100
Operating expenses
2,800
(1)
Net income
5,100
(f)
%24
Transcribed Image Text:(c)
Prepare an income statement for Case 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 follovs: Cash $3,100, Receivables (net) 515,100, Raw Materials S510, and Prepaid Expenses 5410. List Current
Assets in order of liquidity
CASE 1
(Partial) Balance Sheet
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