pply the missing data in the four cases that follow. Each case is independent of
ID: 2342604 • Letter: P
Question
pply the missing data in the four cases that follow. Each case is independent of the others: Case 2 Schedule of Cost of Goods Manufactured S 7,00 S 16,700 S9,050 8,300 ect materials 1,810 10,800 19,610 3,100 (4 250) 7,400 20,800 44,900 7,460 10,850 27,360 2.320 3,.180 (5,240) 3,110 21,680 33,090 1,440 (2,180) ok otal costs Beginning work in process inventory (7,290) of goods manufactured S 18,460 39,930 25,300 32,350 s 30,500 $63,500 $ 52,600 $ 60,100 9,160 32,350 6,550 18,460 10,500 25,300 9,500 7.050 9.700 16.150 9.170
Explanation / Answer
Schedule of Cost of goods manufactured
Case 1
Case 2
Case 3
Case 4
Direct material
7000
16700
9050
8300
Direct labor
1810
7400
7460
3110
Applied overhead
10800
20800
10850
21680
Total manufacturing cost
19610
44900
27360
33090
Add: beginning work in progress
3100
2320
3180
1440
Total cost of work in progress
22710
47220
30540
34530
Less: ending work in progress
4250
7090
5240
2180
Cost of goods manufactured
18460
40130
25300
32350
Schedule of Cost of goods Sold
Cost of goods manufactured
18460
40130
25300
32350
Add: Beginning Finished goods Inventory
6550
11000
10500
9160
Inventory available for sale
25010
51130
35800
41510
Less: ending Finished goods Inventory
10350
9500
6900
7050
Cost of goods Sold
14660
41630
28900
34460
Income statement
Sales revenue
30500
63500
52600
60100
Less: cost of goods sold
14660
41630
28900
34460
Gross profit
15840
21870
23700
25640
Less: selling and administration expense
9700
12700
16200
16150
Net income
6140
9170
7500
9490
Case 2
Cost of goods Sold
41630
Ending Finished goods Inventory
9500
Less: Cost of goods manufactured
40130
Beginning Finished goods Inventory
11000
Gross profit
21870
Less: Net income
9170
Selling and administration expense
12700
Case 3
Inventory available for sale
35800
Less: Cost of goods Sold
28900
Ending Finished goods Inventory
6900
Gross profit
23700
Less: Net income
7500
Selling and administration expense
16200
Schedule of Cost of goods manufactured
Case 1
Case 2
Case 3
Case 4
Direct material
7000
16700
9050
8300
Direct labor
1810
7400
7460
3110
Applied overhead
10800
20800
10850
21680
Total manufacturing cost
19610
44900
27360
33090
Add: beginning work in progress
3100
2320
3180
1440
Total cost of work in progress
22710
47220
30540
34530
Less: ending work in progress
4250
7090
5240
2180
Cost of goods manufactured
18460
40130
25300
32350
Schedule of Cost of goods Sold
Cost of goods manufactured
18460
40130
25300
32350
Add: Beginning Finished goods Inventory
6550
11000
10500
9160
Inventory available for sale
25010
51130
35800
41510
Less: ending Finished goods Inventory
10350
9500
6900
7050
Cost of goods Sold
14660
41630
28900
34460
Income statement
Sales revenue
30500
63500
52600
60100
Less: cost of goods sold
14660
41630
28900
34460
Gross profit
15840
21870
23700
25640
Less: selling and administration expense
9700
12700
16200
16150
Net income
6140
9170
7500
9490
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