Income Statement for a Manufacturing Company Two items are omitted from each of the following three lists of cost of goods sold data from a manufacturing company income statement. Determine the amounts of the missing items, identifying them by letter. Finished goods inventory, June 1 $73,300 $22,700 (e) Cost of goods manufactured 381,200 (c) 79,500 Cost of finished goods available for sale (a) $215,700 $124,900 Finished goods inventory, June 30 88,200 45,300 (f) Cost of goods sold (b) (d) $114,900 a. b. c. d. e. f.
Income Statement for a Manufacturing Company Two items are omitted from each of the following three lists of cost of goods sold data from a manufacturing company income statement. Determine the amounts of the missing items, identifying them by letter. Finished goods inventory, June 1 $73,300 $22,700 (e) Cost of goods manufactured 381,200 (c) 79,500 Cost of finished goods available for sale (a) $215,700 $124,900 Finished goods inventory, June 30 88,200 45,300 (f) Cost of goods sold (b) (d) $114,900 a. b. c. d. e. f.
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter1: Introduction To Managerial Accounting
Section: Chapter Questions
Problem 14E: Income statement for a manufacturing company Two items are omitted from each of the following three...
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Income Statement for a Manufacturing Company
Two items are omitted from each of the following three lists of cost of goods sold data from a manufacturing company income statement. Determine the amounts of the missing items, identifying them by letter.
| Finished goods inventory, June 1 | $73,300 | $22,700 | (e) | ||
| Cost of goods manufactured | 381,200 | (c) | 79,500 | ||
| Cost of finished goods available for sale | (a) | $215,700 | $124,900 | ||
| Finished goods inventory, June 30 | 88,200 | 45,300 | (f) | ||
| Cost of goods sold | (b) | (d) | $114,900 |
| a. | |
| b. | |
| c. | |
| d. | |
| e. | |
| f. |
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Cost sheet is a method of allocating total cost into different categories such as direct material consumed, prime cost, cost of goods manufactured etc.
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