Indicate the missing amount for each letter. Case 1 2 Direct materials used $9,790 $ (g) Direct labor 6,000 9,000 Manufacturing overhead 8,780 4,530 Total manufacturing costs (a) 16,330 Beginning work in process inventory 1,660 (h) Ending work in process inventory (b) 3,980 Sales revenue 25,890 (i) Sales discounts 2,990 1,790 Cost of goods manufactured 17,270 23,050 Beginning finished goods inventory (c) 4,050 Goods available for sale 22,180 (j) Cost of goods sold (d) (k) Ending finished goods inventory 4,020 2,810 Gross profit (e) 7,800 Operating expenses 3,170 (l) Net income (f) 5,240 Prepare a condensed cost of goods manufactured schedule for Case 1.
Indicate the missing amount for each letter. Case 1 2 Direct materials used $9,790 $ (g) Direct labor 6,000 9,000 Manufacturing overhead 8,780 4,530 Total manufacturing costs (a) 16,330 Beginning work in process inventory 1,660 (h) Ending work in process inventory (b) 3,980 Sales revenue 25,890 (i) Sales discounts 2,990 1,790 Cost of goods manufactured 17,270 23,050 Beginning finished goods inventory (c) 4,050 Goods available for sale 22,180 (j) Cost of goods sold (d) (k) Ending finished goods inventory 4,020 2,810 Gross profit (e) 7,800 Operating expenses 3,170 (l) Net income (f) 5,240 Prepare a condensed cost of goods manufactured schedule for Case 1.
Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter1: Introduction To Cost Accounting
Section: Chapter Questions
Problem 8P: OReilly Manufacturing Co.s cost of goods sold for the month ended July 31 was 345,000. The ending...
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Question
Indicate the missing amount for each letter.
Case
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1
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2
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Direct materials used | $9,790 | $
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(g) | |||
Direct labor | 6,000 | 9,000 | ||||
Manufacturing |
8,780 | 4,530 | ||||
Total |
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(a) | 16,330 | |||
Beginning work in process inventory | 1,660 |
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(h) | |||
Ending work in process inventory |
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(b) | 3,980 | |||
Sales revenue | 25,890 |
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(i) | |||
Sales discounts | 2,990 | 1,790 | ||||
Cost of goods manufactured | 17,270 | 23,050 | ||||
Beginning finished goods inventory |
|
(c) | 4,050 | |||
Goods available for sale | 22,180 |
|
(j) | |||
Cost of goods sold |
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(d) |
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(k) | ||
Ending finished goods inventory | 4,020 | 2,810 | ||||
Gross profit |
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(e) | 7,800 | |||
Operating expenses | 3,170 |
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(l) | |||
Net income |
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(f) | 5,240 |
Prepare a condensed cost of goods manufactured schedule for Case 1.
CASE 1
Cost of Goods Manufactured Schedule |
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Cost of Goods ManufacturedDirect LaborDirect MaterialsManufacturing OverheadTotal Cost of Work in ProcessTotal Manufacturing CostsWork in Process Inventory, BeginningWork in Process Inventory, EndingCost of Goods Available for SaleCost of Goods SoldFinished Goods Inventory, BeginningFinished Goods Inventory, EndingGross ProfitNet Income / (Loss)Net SalesOperating ExpensesSales RevenueSales Discounts
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$
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Cost of Goods ManufacturedDirect LaborDirect MaterialsManufacturing OverheadTotal Cost of Work in ProcessTotal Manufacturing CostsWork in Process Inventory, BeginningWork in Process Inventory, EndingCost of Goods Available for SaleCost of Goods SoldFinished Goods Inventory, BeginningFinished Goods Inventory, EndingGross ProfitNet Income / (Loss)Net SalesOperating ExpensesSales RevenueSales Discounts
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$
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Cost of Goods ManufacturedDirect LaborDirect MaterialsManufacturing OverheadTotal Cost of Work in ProcessTotal Manufacturing CostsWork in Process Inventory, BeginningWork in Process Inventory, EndingCost of Goods Available for SaleCost of Goods SoldFinished Goods Inventory, BeginningFinished Goods Inventory, EndingGross ProfitNet Income / (Loss)Net SalesOperating ExpensesSales RevenueSales Discounts
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Cost of Goods ManufacturedDirect LaborDirect MaterialsManufacturing OverheadTotal Cost of Work in ProcessTotal Manufacturing CostsWork in Process Inventory, BeginningWork in Process Inventory, EndingCost of Goods Available for SaleCost of Goods SoldFinished Goods Inventory, BeginningFinished Goods Inventory, EndingGross ProfitNet Income / (Loss)Net SalesOperating ExpensesSales RevenueSales Discounts
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Cost of Goods Manufactured Direct Labor Direct Materials Manufacturing Overhead Total Cost of Work in Process Total Manufacturing Costs Work in Process Inventory, Beginning Work in Process Inventory, Ending Cost of Goods Available for Sale Cost of Goods Sold Finished Goods Inventory, Beginning Finished Goods Inventory, Ending Gross
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Cost of Goods ManufacturedDirect LaborDirect MaterialsManufacturing OverheadTotal Cost of Work in ProcessTotal Manufacturing CostsWork in Process Inventory, BeginningWork in Process Inventory, EndingCost of Goods Available for SaleCost of Goods SoldFinished Goods Inventory, BeginningFinished Goods Inventory, EndingGross ProfitNet Income / (Loss)Net SalesOperating ExpensesSales RevenueSales Discounts
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AddLess
Cost of Goods ManufacturedDirect LaborDirect MaterialsManufacturing OverheadTotal Cost of Work in ProcessTotal Manufacturing CostsWork in Process Inventory, BeginningWork in Process Inventory, EndingCost of Goods Available for SaleCost of Goods SoldFinished Goods Inventory, BeginningFinished Goods Inventory, EndingGross ProfitNet Income / (Loss)Net SalesOperating ExpensesSales RevenueSales Discounts
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Cost of Goods ManufacturedDirect LaborDirect MaterialsManufacturing OverheadTotal Cost of Work in ProcessTotal Manufacturing CostsWork in Process Inventory, BeginningWork in Process Inventory, EndingCost of Goods Available for SaleCost of Goods SoldFinished Goods Inventory, BeginningFinished Goods Inventory, EndingGross ProfitNet Income / (Loss)Net SalesOperating ExpensesSales RevenueSales Discounts
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