Supply the missing data in the following cases, each case is independent of the others. Schedule of Cost of Goods Manufactured Direct materials . . . . . . . . . . . . . . . . . . . . . .P 4,500 Direct labor . . . . . . . . . . . . . . . . . . . . . . . . . . ? Manufacturing overhead . . . . . . . . . . . . . . . 5,000 Total manufacturing costs . . . . . . . . . . . . . . 18,500 Beginning work in process inventory . . . . . 2,500 Ending work in process inventory . . . . . . . . ? Cost of goods manufactured . . . . . . . . . . . 18,000 Income Statement Sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . P 30,000 Beginning finished goods inventory . . . . . 1,000 Cost of goods manufactured . . . . . . . . . . . 18,000 Goods available for sale . . . . . . . . . . . . . . . ? Ending finished goods inventory . . . . . . . . ? Cost of goods sold . . . . . . . . . . . . . . . . . . . . 17,000 Gross margin . . . . . . . . . . . . . . . . . . . . . . . . 13,000 Selling and administrative expenses . . . . . ? Net operating income . . . . . . . . . . . . . . . . . 3,000
1. Supply the missing data in the following cases, each case is independent of the others.
Schedule of Cost of Goods Manufactured
Direct materials . . . . . . . . . . . . . . . . . . . . . .P 4,500
Direct labor . . . . . . . . . . . . . . . . . . . . . . . . . . ?
Manufacturing overhead . . . . . . . . . . . . . . . 5,000
Total
Beginning work in process inventory . . . . . 2,500
Ending work in process inventory . . . . . . . . ?
Cost of goods manufactured . . . . . . . . . . . 18,000
Income Statement
Sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . P 30,000
Beginning finished goods inventory . . . . . 1,000
Cost of goods manufactured . . . . . . . . . . . 18,000
Goods available for sale . . . . . . . . . . . . . . . ?
Ending finished goods inventory . . . . . . . . ?
Cost of goods sold . . . . . . . . . . . . . . . . . . . . 17,000
Gross margin . . . . . . . . . . . . . . . . . . . . . . . . 13,000
Selling and administrative expenses . . . . . ?
Net operating income . . . . . . . . . . . . . . . . . 3,000
Step by step
Solved in 3 steps
