n September 30, 20x1, the warehouse of A Company for inventory in progress and all inventories contained therein were razed by fire. Amounts for the following accounts have been established: Jan 01 - Accounts payable 125,000.00 - Raw materials 23,000.00 - Work in process 63,000.00 - Finished goods 55,500.00 September 30 - Accounts payable 146,500.00 - Raw materials 28,000.00 - Work in process ? - Finished goods 61,000.00 The following additional information was determined: - Payments for purchases on account - 100,000.00 - Freight on purchases - 12,000.00 - Purchase returns 15,000.00 - Direct labor 42,000.00 - Manufacturing overhead 21,000.00 - Sales from January to June 29 290,000.00 - Sales returns 15,000.00 - Sales discounts 29,000.00 - Gross profit rate based on sales 40% Cost of goods manufactured is
On September 30, 20x1, the warehouse of A Company for inventory in progress and all inventories contained therein were razed by fire. Amounts for the following accounts have been established:
Jan 01
- Accounts payable 125,000.00
- Raw materials 23,000.00
- Work in process 63,000.00
- Finished goods 55,500.00
September 30
- Accounts payable 146,500.00
- Raw materials 28,000.00
- Work in process ?
- Finished goods 61,000.00
The following additional information was determined:
- Payments for purchases on account - 100,000.00
- Freight on purchases - 12,000.00
- Purchase returns 15,000.00
- Direct labor 42,000.00
- Manufacturing
- Sales from January to June 29 290,000.00
- Sales returns 15,000.00
- Sales discounts 29,000.00
- Gross profit rate based on sales 40%
Cost of goods manufactured is
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