E2-19 Calculating Missing Amounts and Cost of Goods Manufactured and Sold [LO 2-

Question

E2-19 Calculating Missing Amounts and Cost of Goods Manufactured and Sold [LO 2-3, 2-4, 2-5, 2-6]

For each of the following independent cases (1–4), compute the missing values. (Enter all amounts as positive values.)

Case 1 Case 2 Case 3 Case 4 Beginning raw materials $6,800 $23,000 $102,000 Raw material purchases 47,000 11,150 47,640 Indirect materials issued 700 2,700 1,200 3,400 Ending raw materials 1,300 3,850 94,900 Direct materials used 15,400 31,920 Direct labor 32,000 121,950 Manufacturing overhead 52,000 39,350 29,280 540,130 Total current manufacturing costs 81,600 94,500 Beginning work in process 48,000 38,600 101,820 Ending work in process 42,650 237,800 Cost of goods manufactured 134,000 74,800 90,325 832,900 Beginning finished goods 78,000 51,900 Ending finished goods 79,000 30,400 397,700 Cost of goods sold 80,000 111,475 844,400

Explanation / Answer

Case1 Case2 Case3 Case 4 Beginning Raw material 6800 10800 23000 102000 Raw material Purchase 47000 11150 47640 303100 Indirect Material 700 2700 1200 3400 Ending Raw material 1300 3850 37520 94900 Direct Material used 51800 15400 31920 306800 Direct Labour 32000 26850 33300 121950 Manufacturing OH 52000 39350 29280 540130 Current Manufacturing Cost 135800 81600 94500 968880 Beginning WIP 48000 38600 38475 101820 Ending WIP 49800 45400 42650 237800 Cost of Goods manufactured 134000 74800 90325 832900 Beginning FG 78000 35600 51900 409200 Ending FG 79000 30400 30750 397700 Cost of Goods sold 133000 80000 111475 844400

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