Problem 2-5 Supplying Missing Data (LO5 - CC10; LO6 - CC11, 12) Supply the missi

Question

Problem 2-5 Supplying Missing Data (LO5 - CC10; LO6 - CC11, 12) Supply the missing data in the following cases. Each case is independent of the others. (Leave no cells blank - be certain to enter"o" wherever required.) Case 1 2 3 4 Direct materials Direct labour Manufacturing overhead Total manufacturing costs Beginning work-in-process $5,500$7,0006,000$ 4,000 5,000 10,000 19,000 8,000 6,000 19,500 3,500 4,000 5,000 16,000 8,000 7,000 21,000 4,000 5,000 inventor Ending work-in-process inventory Cost of goods manufactured Sales Beginning finished goods inventory Cost of goods manufactured Goods available for sale Ending finished goods inventory Cost of goods sold Gross margin Operating expenses Net income 3,500 19,500 41,000 3,000 19,500 22,500 4,500 18,000 19,000 25,600 2,000 19,000 2,000 16,500 26,000 3,500 16,500 37,000 21,300 5,000 16,300 20,700 13,700 2,500 17,200 8,400 3,400 $ 5,000 4,450 $7,000$10,000

Explanation / Answer

CASE1 CASE2 CASE3 CASE4 Direct Material 5500 7000 6000 4000 Direct labour 8000 4000 8000 5000 manufacturing Overheads 6000 5000 7000 10000 Total Mnaufacturing overheads 19500 16000 21000 19000 Beg. WIP 3500 2500 4000 4000 Ending WIP 3500 2000 5000 3500 Cost of Goods manufactured 19000 16500 20000 19500 Sales 25600 26000 37000 41000 Beg. Finished Goods 2000 3500 1300 3000 Cost of Goods manufactured 19000 16500 20000 19500 Cost of Goods available 21000 20000 21300 22500 Ending finished goods 3800 2500 5000 4500 Cost of Goods sold 17200 17500 16300 18000 Gross margin 8400 8500 20700 23000 Operating expense 3400 4450 13700 13000 Net income 5000 4050 7000 10000 Note: Total manufacturing cost: Material+labour+Overheads Note: Cost of Goods manufactured: Total manufacturing cost+Beg. WIP - Ending wIP Note: Cost of goods available: Beginning Finished Goods +Cost f goods manufactured Note: Cost of goods sold: cost of goods avialable-Ending Finished goods Note: Gross margin = Sales -COGS Note: Net income = Gross margin-Operating expense

Related Questions

Navigate

• Browse (All)
• Browse P
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.