ach column below is independent and for a different company. Use the data given,

Question

ach column below is independent and for a different company. Use the data given, which refer to one year for each example, to find the unknown account balances. Company Southeast Central Northwest (a) $3,920 $16,640 14,664 85,696 79,800 17,888 29,536 66,768 (b) 30,486 326,320 55,550 26,432 320,424 56,050 30,464 314,673 ( 18,368666,931 26,450 4,256 129,688 68,744 Direct materials inventory, January 1 Direct materials inventory, December 31 Work-in-process inventory, January l Work-in-process inventory, December 31 Finished goods inventory, January 1 Finished goods inventory, December 31 Purchases of direct materials $4,850 3,248 2,700 7,526 3,800 3,472 1,900 300 4,928 16,100 13,440 ost of goods manufactured during this year Total manufacturing costs Cost of goods sold ross margin Direct labor Direct materials used 15,300 13,800 8,064 anufacturing overhead 103,300 (f) 981,604 Sales revenue You must show your work for each answer in order to receive credit for this problem. (f

Explanation / Answer

SOUTHEAST CENTRAL NORTHWEST Direct material beg. Inventory 4050 3920 16640 Direct material ending inventory 4850 3248 14664 Wip beginning inventory 2700 7526 85696 WIP ending inventory 3800 3472 79800 FG beginning inventory 1900 17888 FG ending inventory 300 4928 29536 Purchase off material 16100 13440 66768 Cost of goods mnaufactured 54450 30486 326320 Total manufacturing cost 55550 26432 320424 Cost of goods sold 56050 30464 314673 Gross margin 18368 666931 Direct labur 26450 4256 129688 Direct material used 15300 68744 Manufacturing Overheads 13800 8064 Sales revenue 103300 981604 Req a: Material c consumed: 15300 Add: Ending Inventory 4850 Less: Material purchased -16100 Material beginning Inventory 4050 Req b: Total manufacturing cost: 55550 Add: Beg. Wip 2700 Less: Ending WIP -3800 Cost of goods manufactured 54450 Req c: Gross profit: Sales 103300 Lless: Cost of goods sold 56050 Gross profit: 47250 Req d: Cost of goods sold 30464 Add: ending inventory of FG 4928 Less: Cost of goods mnaufactured -30486 Beginning balance of FG 4906 Req e: Begning Inventory of RM 3920 Add: Purchases 13440 Less: Ending inventory of Rm -3248 Direct material consumed 14112 Req f: Cost of goods sold 30464 Add: Gross margin 18368 sales revenue 48832 Req g: Total manufacturing cost: 320424 Less: Direct material used -68744 Less: Direct labour c ost -129688 Manufacturing OH 121992

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