1 Direct materials used $ 9,600 Direct labor 5,000 Manufacturing overhead Total manufacturing costs Beginning work in process inventory Ending work in process inventory Sales revenue 8,000 (a) 1,000 (b) 24,500 Sales discounts 2,500 Cost of goods manufactured Beginning finished goods inventory Cost of goods available for sale Cost of goods sold Ending finished goods inventory Gross profit Operating expenses 17,000 (c) 22,000 (d) 3,400 (e) 2,500 Net income (f)
1 Direct materials used $ 9,600 Direct labor 5,000 Manufacturing overhead Total manufacturing costs Beginning work in process inventory Ending work in process inventory Sales revenue 8,000 (a) 1,000 (b) 24,500 Sales discounts 2,500 Cost of goods manufactured Beginning finished goods inventory Cost of goods available for sale Cost of goods sold Ending finished goods inventory Gross profit Operating expenses 17,000 (c) 22,000 (d) 3,400 (e) 2,500 Net income (f)
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter2: Basic Cost Management Concepts
Section: Chapter Questions
Problem 27E: Selected information concerning the operations of a company for the year ended December 31 is as...
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