The Enrique Company recorded the following transactions for February 20x1: Work in Process Purchases Beginning inventory Ending inventory. Direct materials used Direct labor Manufacturing overhead (includes indirect materials used of $10,800) Transferred to finished goods Cost of goods sold Materials. $140,000 220,000 A $8,800 34,000 98,000 B 123,000 Finished Goods E 34,000 $ Sales were $572,000, with sales prices determined by adding a 30% markup to the firm's manufacturing cost. The total cost of direct materials used, direct labor, and manufacturing overhead during the month was $301,000. Note: The materials account includes both direct materials and indirect materials.
The Enrique Company recorded the following transactions for February 20x1: Work in Process Purchases Beginning inventory Ending inventory. Direct materials used Direct labor Manufacturing overhead (includes indirect materials used of $10,800) Transferred to finished goods Cost of goods sold Materials. $140,000 220,000 A $8,800 34,000 98,000 B 123,000 Finished Goods E 34,000 $ Sales were $572,000, with sales prices determined by adding a 30% markup to the firm's manufacturing cost. The total cost of direct materials used, direct labor, and manufacturing overhead during the month was $301,000. Note: The materials account includes both direct materials and indirect materials.
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text:The Enrique Company recorded the following transactions for February 20x1:
Work in
Process
Purchases
Beginning inventory.
Ending inventory
Direct materials used i
Direct labor
Manufacturing overhead (includes indirect
materials used of $10,800)
Transferred to finished goods
Cost of goods sold
Required:
Calculate the missing values.
Materials
$140,000
220,000
A
A. Ending materials
B. Direct labor
C. Transferred to finished goods
D.
Cost of goods sold
E. Beginning finished goods
$ 8,800
34,000
98,000
B
123,000
C
Finished
Goods
$
Sales were $572,000, with sales prices determined by adding a 30 % markup to the firm's manufacturing cost. The total cost of direct
materials used, direct labor, and manufacturing overhead during the month was $301,000.
Note: The materials account includes both direct materials and indirect materials.
E
34,000
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