Homework Help is Here – Start Your Trial Now!
Business
Accounting
67% Part 3: Kirsh, Inc. Below is information re: Kirsh, Inc.'s inventory accounts. Please complete the missing figures. Income Statement Information Sales $1,500 Gross Margin Percentage 0% Inventory Information Raw Materials inventory, Jan I, 2022 $530 Purchases of raw materials during the year (Q15) Raw materials used in production during the year (Q16) Raw Materials inventory, Dec 31, 2022 S624 Work in Process inventory, Jan 1, 2022 S1,850 Raw materials used in production during the year (Q16) Direct Labor costs incurred during the year $202 Manufacturing Overhead costs incurred during the year S845 Cost of units completed during the year (Q17) Work in Process inventory, Dec 31, 2022 $2,100 Finished Goods inventory, Jan 1, 2022 (Q18) Cost of units completed during the year $1,214 Cost of units sold during the year Finished Goods inventory, Dec 31, 2022 $872 DI

67% Part 3: Kirsh, Inc. Below is information re: Kirsh, Inc.'s inventory accounts. Please complete the missing figures. Income Statement Information Sales $1,500 Gross Margin Percentage 0% Inventory Information Raw Materials inventory, Jan I, 2022 $530 Purchases of raw materials during the year (Q15) Raw materials used in production during the year (Q16) Raw Materials inventory, Dec 31, 2022 S624 Work in Process inventory, Jan 1, 2022 S1,850 Raw materials used in production during the year (Q16) Direct Labor costs incurred during the year $202 Manufacturing Overhead costs incurred during the year S845 Cost of units completed during the year (Q17) Work in Process inventory, Dec 31, 2022 $2,100 Finished Goods inventory, Jan 1, 2022 (Q18) Cost of units completed during the year $1,214 Cost of units sold during the year Finished Goods inventory, Dec 31, 2022 $872 DI

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter7: Inventories: Cost Measurement And Flow Assumptions
Section: Chapter Questions
Problem 8P: Comprehensive The following information for 2019 is available for Marino Company: 1. The beginning...
See similar textbooks
icon
Related questions
Topic Video
Question
67% Part 3: Kirsh, Inc. Below is information re: Kirsh, Inc.'s inventory accounts. Please complete the missing figures. Income Statement Information Sales $1,500 Gross Margin Percentage 0% Inventory Information Raw Materials inventory, Jan I, 2022 $530 Purchases of raw materials during the year (Q15) Raw materials used in production during the year (Q16) Raw Materials inventory, Dec 31, 2022 S624 Work in Process inventory, Jan 1, 2022 S1,850 Raw materials used in production during the year (Q16) Direct Labor costs incurred during the year $202 Manufacturing Overhead costs incurred during the year S845 Cost of units completed during the year (Q17) Work in Process inventory, Dec 31, 2022 $2,100 Finished Goods inventory, Jan 1, 2022 (Q18) Cost of units completed during the year $1,214 Cost of units sold during the year Finished Goods inventory, Dec 31, 2022 $872 DI
Transcribed Image Text:67% Part 3: Kirsh, Inc. Below is information re: Kirsh, Inc.'s inventory accounts. Please complete the missing figures. Income Statement Information Sales $1,500 Gross Margin Percentage 0% Inventory Information Raw Materials inventory, Jan I, 2022 $530 Purchases of raw materials during the year (Q15) Raw materials used in production during the year (Q16) Raw Materials inventory, Dec 31, 2022 S624 Work in Process inventory, Jan 1, 2022 S1,850 Raw materials used in production during the year (Q16) Direct Labor costs incurred during the year $202 Manufacturing Overhead costs incurred during the year S845 Cost of units completed during the year (Q17) Work in Process inventory, Dec 31, 2022 $2,100 Finished Goods inventory, Jan 1, 2022 (Q18) Cost of units completed during the year $1,214 Cost of units sold during the year Finished Goods inventory, Dec 31, 2022 $872 DI
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 2 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Accounting for Merchandise Inventory
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Corporate Financial Accounting
Corporate Financial Accounting
Accounting
ISBN:
9781305653535
Author:
Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:
Cengage Learning
Financial And Managerial Accounting
Financial And Managerial Accounting
Accounting
ISBN:
9781337902663
Author:
WARREN, Carl S.
Publisher:
Cengage Learning,
Corporate Financial Accounting
Corporate Financial Accounting
Accounting
ISBN:
9781337398169
Author:
Carl Warren, Jeff Jones
Publisher:
Cengage Learning
Financial Accounting: The Impact on Decision Make…
Financial Accounting: The Impact on Decision Make…
Accounting
ISBN:
9781305654174
Author:
Gary A. Porter, Curtis L. Norton
Publisher:
Cengage Learning
Century 21 Accounting General Journal
Century 21 Accounting General Journal
Accounting
ISBN:
9781337680059
Author:
Gilbertson
Publisher:
Cengage
SEE MORE TEXTBOOKS