Paul & Paul, Incorporated is a manufacturing firm. They following selected pleces of Information are from July operations: Average selling price per unit $ 64 Cost of goods sold $ 4,416,384 Decrease in direct materials inventory Direct labor Gross margin percentage (based on sales) Increase in finished goods inventory Manufacturing overhead Total manufacturing costs Required: a. Find the cost of goods manufactured. b. Find the direct materials used. c. Find the direct materials purchases. d. Find the units sold. Note: Do not round Intermediate calculations. Round your answer to the nearest whole number. e. Find the increase (decrease) in work-in-process Inventory. a. Cost of goods manufactured b. Direct materials used Materials purchased Units sold $ 1,512 $ 954,400 Jex $ 57,735 $ 795,500 $ 4,476,304 0. d. e.

Paul & Paul, Incorporated is a manufacturing firm. They following selected pleces of Information are from July operations: Average selling price per unit $ 64 Cost of goods sold $ 4,416,384 Decrease in direct materials inventory Direct labor Gross margin percentage (based on sales) Increase in finished goods inventory Manufacturing overhead Total manufacturing costs Required: a. Find the cost of goods manufactured. b. Find the direct materials used. c. Find the direct materials purchases. d. Find the units sold. Note: Do not round Intermediate calculations. Round your answer to the nearest whole number. e. Find the increase (decrease) in work-in-process Inventory. a. Cost of goods manufactured b. Direct materials used Materials purchased Units sold $ 1,512 $ 954,400 Jex $ 57,735 $ 795,500 $ 4,476,304 0. d. e.

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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