Sphinxco Manufacturing Company had a computer malfunction that destroyed some of its accounting records.SalesFinished goods inventory, January 1, 2025Finished goods inventory, December 31, 2025Cost of goods soldGross marginSelling and administrative expensesOperating incomeWork in process, January 1, 2025Direct materials usedDirect laborFactory overheadTotal manufacturing costsWork in process, December 31, 2025Cost of goods manufacturedRequired:Calculate the unknowns Indicated by question marks.Case A$ 150,000Case B?35,00040,000$ 28,000??61,00025,00023,000?1,00010,00022,000?14,00018,0008,00035,0009,00050,000??35,00022,000??45,000

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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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The following information was taken from the accounting records of Elliott Manufacturing Corporation. Unfortunately, some of the data were destroyed by a computer malfunction. Sales Revenue $ 60,250 Finished Goods Inventory, Beginning 9,750 Finished Goods Inventory, Ending 6,600 Cost of Goods Sold ? Gross Margin 26,950 Direct Materials Used 10,450 Selling and Administrative Expense ? Operating Income 14,600 Work-in-Process Inventory, Beginning ? Work-in-Process Inventory, Ending 5,450 Direct Labor Used 9,225 Factory Overhead 12,300 Total Manufacturing Cost ? Cost of Goods Manufactured ? Cost of goods sold is calculated to be: Multiple Choice $32,300. $30,150. $27,300. $33,300. $38,300.
The following information was taken from the accounting records of Elliott Manufacturing Corporation. Unfortunately, some of the data were destroyed by a computer malfunction. Sales Revenue $ 58,000 Finished Goods Inventory, Beginning 9,000 Finished Goods Inventory, Ending 6,000 Cost of Goods Sold ? Gross Margin 25,000 Direct Materials Used 10,000 Selling and Administrative Expense ? Operating Income 14,000 Work-in-Process Inventory, Beginning ? Work-in-Process Inventory, Ending 5,000 Direct Labor Used 9,000 Factory Overhead 12,000 Total Manufacturing Cost ? Cost of Goods Manufactured ? Selling and administrative expenses are calculated to be: Multiple Choice $4,000. $9,000. $11,000. $12,000. $16,000.
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The following information was taken from the accounting records of Elliott Manufacturing Corp. Unfortunately, some of the data were destroyed by a computer malfunction. Sales Revenue $58,000 Finished Goods Inventory, Beginning 9,000 Finished Goods Inventory, Ending 6,000 Cost of Goods Sold Gross Margin 25,000 Direct Materials Used 10,000 Selling and Administrative Expense Operating Income Work-in-Process Inventory, Beginning Work-in-Process Inventory, Ending 14,000 5,000 Direct Labor Used 9,000 Factory Overhead 12,000 Total Manufacturing Cost Cost of Goods Manufactured Work in process inventory, beginning, is calculated to be:
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Please do not give solution in image format thanku
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Prepare a schedule of the cost of goods manufactured Schedule for October 2022. Prepare a correct income statement for October 2022. (Enter negative amounts using either a negative sign preceding the number e.g.−45or parentheses e.g. (45).)
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problem #3 manufacturing activities for 2018. The accounts have been adjusted, but have not yet Allocating Costs to Work in Process and Preparation of the Statement of Cost of Goods Madelon Lee Company's general ledger included the following items related to its Manufactured been closed: Raw Materials Inventory Work in Process Inventory Purchases-Raw Materials P 84,600 99,360 311,400 450,000 Direct Labor Indirect Labor 194,220 Factory Utilities Repairs and Maintenance-Factory Equipment Rent Expense-Factory Building Property Taxes-Factory Site Factory Insurance Expense Factory Supplies Expense Depreciation Expense-Factory Equipment 109,440 30,060 84,600 19,260 16,020 34,920 82,800 Amortization of Patents 13,680 In addition, the ending inventory of raw materials is known to be P91,080. The ending inventory of Work in Process is not known, but it is known that the company makes a single product and 4,500 units of goods were in process on Dec. 31, 2018. Each unit contained an estimated P18…

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