Use the information provided for preparing the statement of the cost of goods sold of Pacific States Manufacturing for the year just ended to answer the question number 10 to 13 Q # 10) what is the amount of direct materials used/consumed? Pacific States Manufacturing for the year just ended sales 31,800 purchase of direct materials 7,000 direct labor 5,000 work in process inventory, 1/1 800 work in process inventory, 12/31 3,000 fineshed goods inventory, 1/1 4,000 fineshed goods inventory, 12/31 5,300 accounts payable, 1/1 1,700 accounts payable, 12/31 1,500 direct materials inventory, 1/1 6,000 direct materials inventory, 12/31 1,000 indirect labour 600 indirect materials used 500 utilities expense, factory 1,900 Depreciation on factory equipment 3,500 1/1= Inventory at the start of the year 12/31= Inventory at the end of the year Q # 11) what is cost of goods manufactured? Pacific States Manufacturing for the year just ended sales 31,800 purchase of direct materials 7,000 direct labor 5,000 work in process inventory, 1/1 800 work in process inventory, 12/31 3,000 fineshed goods inventory, 1/1 4,000 fineshed goods inventory, 12/31 5,300 accounts payable, 1/1 1,700 accounts payable, 12/31 1,500 direct materials inventory, 1/1 6,000 direct materials inventory, 12/31 1,000 indirect labour 600 indirect materials used 500 utilities expense, factory 1,900 Depreciation on factory equipment 3,500 1/1= Inventory at the start of the year 12/31= Inventory at the end of the year Q # 12) what is cost of goods sold? Pacific States Manufacturing for the year just ended sales 31,800 purchase of direct materials 7,000 direct labor 5,000 work in process inventory, 1/1 800 work in process inventory, 12/31 3,000 fineshed goods inventory, 1/1 4,000 fineshed goods inventory, 12/31 5,300 accounts payable, 1/1 1,700 accounts payable, 12/31 1,500 direct materials inventory, 1/1 6,000 direct materials inventory, 12/31 1,000 indirect labour 600 indirect materials used 500 utilities expense, factory 1,900 Depreciation on factory equipment 3,500 1/1= Inventory at the start of the year 12/31= Inventory at the end of the year
Use the information provided for preparing the statement of the cost of goods sold of Pacific States Manufacturing for the year just ended to answer the question number 10 to 13
Q # 10) what is the amount of direct materials used/consumed?
Pacific States Manufacturing for the year just ended
sales 31,800
purchase of direct materials 7,000
direct labor 5,000
work in process inventory, 1/1 800
work in process inventory, 12/31 3,000
fineshed goods inventory, 1/1 4,000
fineshed goods inventory, 12/31 5,300
accounts payable, 1/1 1,700
accounts payable, 12/31 1,500
direct materials inventory, 1/1 6,000
direct materials inventory, 12/31 1,000
indirect labour 600
indirect materials used 500
utilities expense, factory 1,900
1/1= Inventory at the start of the year
12/31= Inventory at the end of the year
Q # 11) what is cost of goods manufactured?
Pacific States Manufacturing for the year just ended
sales 31,800
purchase of direct materials 7,000
direct labor 5,000
work in process inventory, 1/1 800
work in process inventory, 12/31 3,000
fineshed goods inventory, 1/1 4,000
fineshed goods inventory, 12/31 5,300
accounts payable, 1/1 1,700
accounts payable, 12/31 1,500
direct materials inventory, 1/1 6,000
direct materials inventory, 12/31 1,000
indirect labour 600
indirect materials used 500
utilities expense, factory 1,900
Depreciation on factory equipment 3,500
1/1= Inventory at the start of the year
12/31= Inventory at the end of the year
Q # 12) what is cost of goods sold?
Pacific States Manufacturing for the year just ended
sales 31,800
purchase of direct materials 7,000
direct labor 5,000
work in process inventory, 1/1 800
work in process inventory, 12/31 3,000
fineshed goods inventory, 1/1 4,000
fineshed goods inventory, 12/31 5,300
accounts payable, 1/1 1,700
accounts payable, 12/31 1,500
direct materials inventory, 1/1 6,000
direct materials inventory, 12/31 1,000
indirect labour 600
indirect materials used 500
utilities expense, factory 1,900
Depreciation on factory equipment 3,500
1/1= Inventory at the start of the year
12/31= Inventory at the end of the year
Q # 13) what is the gross margin?
Pacific States Manufacturing for the year just ended
sales 31,800
purchase of direct materials 7,000
direct labor 5,000
work in process inventory, 1/1 800
work in process inventory, 12/31 3,000
fineshed goods inventory, 1/1 4,000
fineshed goods inventory, 12/31 5,300
accounts payable, 1/1 1,700
accounts payable, 12/31 1,500
direct materials inventory, 1/1 6,000
direct materials inventory, 12/31 1,000
indirect labour 600
indirect materials used 500
utilities expense, factory 1,900
Depreciation on factory equipment 3,500
1/1= Inventory at the start of the year
12/31= Inventory at the end of the year
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