Question 2.3 The accounts for a manufacturing company for an accounting period are listed below. Sales $39,000 Cost of goods sold ? Cost of goods manufactured ? Purchases of direct materials $11,000 Direct labour $5,000 Finished goods inventory, beginning $5,000 Work in process, beginning $800 Work in process, ending $3,000 Gross margin $11,700 Finished goods inventory, ending ? Accounts payable, beginning $4,000 Accounts payable, ending $2,800 Direct materials inventory, beginning $1,000 Direct materials inventory, ending $3,000 Direct materials used ? Indirect labour $2,000 Indirect materials used $4,000 Utilities expense, factory $3,000 Depreciation on factory equipment $7,000 Required: Find the unknown amounts indicated by question marks.
Question 2.3
The accounts for a manufacturing company for an accounting period are listed below.
|
Sales |
$39,000 |
|
Cost of goods sold |
? |
|
Cost of goods manufactured |
? |
|
Purchases of direct materials |
$11,000 |
|
Direct labour |
$5,000 |
|
Finished goods inventory, beginning |
$5,000 |
|
Work in process, beginning |
$800 |
|
Work in process, ending |
$3,000 |
|
Gross margin |
$11,700 |
|
Finished goods inventory, ending |
? |
|
Accounts payable, beginning |
$4,000 |
|
Accounts payable, ending |
$2,800 |
|
Direct materials inventory, beginning |
$1,000 |
|
Direct materials inventory, ending |
$3,000 |
|
Direct materials used |
? |
|
Indirect labour |
$2,000 |
|
Indirect materials used |
$4,000 |
|
Utilities expense, factory |
$3,000 |
|
|
$7,000 |
Required:
- Find the unknown amounts indicated by question marks.
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