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Sphinxco Manufacturing Company had a computer malfunction that destroyed some of its accounting records. Sales Finished goods inventory, January 1, 2025 Finished goods inventory, December 31, 2025 Cost of goods sold Gross margin Selling and administrative expenses Operating income Work in process, January 1, 2025 Direct materials used Direct labor Factory overhead Total manufacturing costs Work in process, December 31, 2025 Cost of goods manufactured Required: Calculate the unknowns Indicated by question marks. Case A $ 150,000 Case B ? 35,000 40,000 $ 28,000 ? ? 61,000 25,000 23,000 ? 1,000 10,000 22,000 ? 14,000 18,000 8,000 35,000 9,000 50,000 ? ? 35,000 22,000 ? ? 45,000

Sphinxco Manufacturing Company had a computer malfunction that destroyed some of its accounting records. Sales Finished goods inventory, January 1, 2025 Finished goods inventory, December 31, 2025 Cost of goods sold Gross margin Selling and administrative expenses Operating income Work in process, January 1, 2025 Direct materials used Direct labor Factory overhead Total manufacturing costs Work in process, December 31, 2025 Cost of goods manufactured Required: Calculate the unknowns Indicated by question marks. Case A $ 150,000 Case B ? 35,000 40,000 $ 28,000 ? ? 61,000 25,000 23,000 ? 1,000 10,000 22,000 ? 14,000 18,000 8,000 35,000 9,000 50,000 ? ? 35,000 22,000 ? ? 45,000

Principles of Cost Accounting
Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter2: Accounting For Materials
Section: Chapter Questions
Problem 13P: Webster Company uses backflush costing to account for its manufacturing costs. The trigger points...
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Sphinxco Manufacturing Company had a computer malfunction that destroyed some of its accounting records. Sales Finished goods inventory, January 1, 2025 Finished goods inventory, December 31, 2025 Cost of goods sold Gross margin Selling and administrative expenses Operating income Work in process, January 1, 2025 Direct materials used Direct labor Factory overhead Total manufacturing costs Work in process, December 31, 2025 Cost of goods manufactured Required: Calculate the unknowns Indicated by question marks. Case A $ 150,000 Case B ? 35,000 40,000 $ 28,000 ? ? 61,000 25,000 23,000 ? 1,000 10,000 22,000 ? 14,000 18,000 8,000 35,000 9,000 50,000 ? ? 35,000 22,000 ? ? 45,000
Transcribed Image Text:Sphinxco Manufacturing Company had a computer malfunction that destroyed some of its accounting records. Sales Finished goods inventory, January 1, 2025 Finished goods inventory, December 31, 2025 Cost of goods sold Gross margin Selling and administrative expenses Operating income Work in process, January 1, 2025 Direct materials used Direct labor Factory overhead Total manufacturing costs Work in process, December 31, 2025 Cost of goods manufactured Required: Calculate the unknowns Indicated by question marks. Case A $ 150,000 Case B ? 35,000 40,000 $ 28,000 ? ? 61,000 25,000 23,000 ? 1,000 10,000 22,000 ? 14,000 18,000 8,000 35,000 9,000 50,000 ? ? 35,000 22,000 ? ? 45,000
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