The following data refer to the month of May for Bonita Components. Fill in the blanks. Direct materials inventory, May 1 Direct materials inventory, May 31 4,900 Work-in-process inventory, May 1 5,000 Work-in-process inventory, May 31 6,200 Finished goods inventory, May 1 3,800 Finished goods inventory, May 31 1,500 Purchases of direct materials 35,000 Cost of goods manufactured during the month 97,000 Total manufacturing costs Cost of goods sold 99,300 Gross margin Direct labor Direct materials used 32,000 Manufacturing overhead 30,500 Sales revenue 116,000

Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter5: Process Costing
Section: Chapter Questions
Problem 14PA: Loanstar had 100 units in beginning inventory before starting 950 units and completing 800 units....
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The following data refer to the month of May for Bonita Components. Fill in the blanks.
Direct materials inventory, May 1
Direct materials inventory, May 31
4,900
Work-in-process inventory, May 1
5,000
Work-in-process inventory, May 31
6,200
Finished goods inventory, May 1
3,800
Finished goods inventory, May 31
1,500
Purchases of direct materials
35,000
Cost of goods manufactured during the month
97,000
Total manufacturing costs
Cost of goods sold
99,300
Gross margin
Direct labor
Direct materials used
32,000
Manufacturing overhead
30,500
Sales revenue
116,000
Transcribed Image Text:The following data refer to the month of May for Bonita Components. Fill in the blanks. Direct materials inventory, May 1 Direct materials inventory, May 31 4,900 Work-in-process inventory, May 1 5,000 Work-in-process inventory, May 31 6,200 Finished goods inventory, May 1 3,800 Finished goods inventory, May 31 1,500 Purchases of direct materials 35,000 Cost of goods manufactured during the month 97,000 Total manufacturing costs Cost of goods sold 99,300 Gross margin Direct labor Direct materials used 32,000 Manufacturing overhead 30,500 Sales revenue 116,000
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