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The following data refers to one month for Talmidge Company. Fill in the blanks. Direct materials inventory, March 1 Direct materials inventory, March 31 2$ 36,000 23,500 Work-in-process inventory, March 1 Work-in-process inventory, March 31 Finished goods inventory, March 1 Finished goods inventory. March 31 Purchases of direct materials Cost of goods manufactured during the month 7,000 34,000 39,500 150,000 Total manufacturing costs 147,000 Cost of goods sold Gross margin 195,500 Direct labor 70,000 Direct materials used 51.000 Manufacturing overhead Sales revenue 340,000

The following data refers to one month for Talmidge Company. Fill in the blanks. Direct materials inventory, March 1 Direct materials inventory, March 31 2$ 36,000 23,500 Work-in-process inventory, March 1 Work-in-process inventory, March 31 Finished goods inventory, March 1 Finished goods inventory. March 31 Purchases of direct materials Cost of goods manufactured during the month 7,000 34,000 39,500 150,000 Total manufacturing costs 147,000 Cost of goods sold Gross margin 195,500 Direct labor 70,000 Direct materials used 51.000 Manufacturing overhead Sales revenue 340,000

Managerial Accounting: The Cornerstone of Business Decision-Making
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter2: Basic Managerial Accounting Concepts
Section: Chapter Questions
Problem 58P: Cost of Goods Manufactured, Income Statement W. W. Phillips Company produced 4,000 leather recliners...
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The following data refers to one month for Talmidge Company. Fill in the blanks. Direct materials inventory, March 1 2$ 36,000 Direct materials inventory. March 31 23,500 Work-in-process inventory, March 1 Work-in-process inventory, March 31 7,000 Finished goods inventory, March 1 Finished goods inventory, March 31 Purchases of direct materials 34,000 39,500 Cost of goods manufactured during the month 150,000 Total manufacturing costs Cost of goods sold Gross margin 147.000 195,500 Direct labor 70,000 Direct materials used 51.000 Manufacturing overhead Sales revenue 340.000
Transcribed Image Text:The following data refers to one month for Talmidge Company. Fill in the blanks. Direct materials inventory, March 1 2$ 36,000 Direct materials inventory. March 31 23,500 Work-in-process inventory, March 1 Work-in-process inventory, March 31 7,000 Finished goods inventory, March 1 Finished goods inventory, March 31 Purchases of direct materials 34,000 39,500 Cost of goods manufactured during the month 150,000 Total manufacturing costs Cost of goods sold Gross margin 147.000 195,500 Direct labor 70,000 Direct materials used 51.000 Manufacturing overhead Sales revenue 340.000
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