2. Far each of the folowing cases,compute thessng amounts Case 3 112,000 18,200

Question

2. Far each of the folowing cases,compute thessng amounts Case 3 112,000 18,200 Case 2 Case 1 $9,300 1,200 Sales Direct Materials Used Direct Labor Prime Cost Conversion Cost Manufacturing Overhead Cost of Goods Manufactured Beginning WIP Inventory Ending WIP Inventory Beginning Finished Goods 4,900 3,700 4,800 49,300 17,200 8,200 6,200 500 14,000 900 1,200 1,900 5,600 4,200 7,600 nventoryD Ending Finished Goods Inventory 1,200 Cost of Goods Sold Gross Profit Operating Expenses Net Income 12,200 72,200 3,500 3,500 4,000 18,000 2,200

Explanation / Answer

I have solved case 1 as per Chegg policy. Let me know if face issues in solving case 2 and case 3

Case 1 A Prime cost=Direct Material + Direct labor 3700=1200-Direct labor Direct Labor=$2,500 B Conversion cost=Direct labor +overheads 4800=2500+overheads Overheads=$2,300 C Closing WIP=Opening WIP+conversion cost+direct material-cost of goods manufactured =500+4800+1200-6200 Closing WIP=$ 300 D Opening Finished goods=cost of goods sold+Ending finished goods-cost of goods manufactured =5800+1200-6200=800 E Cost of goods sold=Sales-gross profit =9300-3500=5800 F Operating expenses=Gross profit-Net income =3500-2200=2300

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