uestion Completion Status: The following information pertains to Ressler Company

Question

uestion Completion Status: The following information pertains to Ressler Company: Direct materials purchases Beginning direct materials Factory overhead Beginning work-in-process Cost of goods manufactured Ending finished goods Gross margin Selling and administrative expenses Beginning finished goods $ 85,800 15,200 72,600 13,200 315,000 30,000 32,000 10,000 20,000 11.000 15,500 Ending work-in-process Ending direct materials Direct labor Direct materials used Operating income (loss) Total manufacturing costs added Cost of goods sold Sales Required Determine the following values: a. Net income b. Total manufacturing costs added c. Cost of goods sold d. Sales e. Direct materials used . Direct labor

Explanation / Answer

Working:

a. Net income $           22,000 b. Total manufacturing costs added $ 312,800 c. Cost of goods sold $ 305,000 d. Sales $ 337,000 e. Direct materials used $           85,500 f. Direct labor $ 154,700

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