Hagrid Gardening Corporation manufactures gardening products. The following information relates to the current period: DM Purchased $14,900 DM Inventory, Jan 1 $12,700 DM Inventory, Dec 31 $16,100 DL $6,400 MOH $16,700 Period Costs $10,500 WIP Inventory, Jan 1 $2,500 WIP Inventory, Dec 31 $8,000 FG Inventory, Jan 1 $19,500 FG Inventory, Dec 31 $4,800 A total of 5,000 products were sold for $25 each. Based on this information, please calculate the following: Operating Income?
Hagrid Gardening Corporation manufactures gardening products. The following information relates to the current period: DM Purchased $14,900 DM Inventory, Jan 1 $12,700 DM Inventory, Dec 31 $16,100 DL $6,400 MOH $16,700 Period Costs $10,500 WIP Inventory, Jan 1 $2,500 WIP Inventory, Dec 31 $8,000 FG Inventory, Jan 1 $19,500 FG Inventory, Dec 31 $4,800 A total of 5,000 products were sold for $25 each. Based on this information, please calculate the following: Operating Income?
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 1E: Inventory Accounts for a Manufacturing Company Fujita Company produces a single product. Costs...
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Hagrid Gardening Corporation manufactures gardening products. The following information relates to the current period:
| DM Purchased | $14,900 |
| DM Inventory, Jan 1 | $12,700 |
| DM Inventory, Dec 31 | $16,100 |
| DL | $6,400 |
| MOH | $16,700 |
| Period Costs | $10,500 |
| WIP Inventory, Jan 1 | $2,500 |
| WIP Inventory, Dec 31 | $8,000 |
| FG Inventory, Jan 1 | $19,500 |
| FG Inventory, Dec 31 | $4,800 |
A total of 5,000 products were sold for $25 each. Based on this information, please calculate the following:
Operating Income?
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