The following data refers to one month for Talmidge Company. Fill in the blanks. Direct materials inventory, March 1 Direct materials inventory, March 31 Work-in-process inventory, March 1 Work-in-process inventory, March 31 Finished goods inventory, March 1 Finished goods inventory, March 31 Purchases of direct materials Cost of goods manufactured during the month Total manufacturing costs Cost of goods sold Gross margin Direct labor Direct materials used 32,000 27,000 10,000 64,000 14,000 260,000 254,000 170,000 120,000 62,000 Manufacturing overhead Sales revenue 480,000
The following data refers to one month for Talmidge Company. Fill in the blanks. Direct materials inventory, March 1 Direct materials inventory, March 31 Work-in-process inventory, March 1 Work-in-process inventory, March 31 Finished goods inventory, March 1 Finished goods inventory, March 31 Purchases of direct materials Cost of goods manufactured during the month Total manufacturing costs Cost of goods sold Gross margin Direct labor Direct materials used 32,000 27,000 10,000 64,000 14,000 260,000 254,000 170,000 120,000 62,000 Manufacturing overhead Sales revenue 480,000
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 5E: Recording materials transactions Prepare a journal entry to record each of the following materials...
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