Problem 19-3A (Part Level Submission) Incomplete manufacturing costs, expenses,
ID: 2408107 • Letter: P
Question
Problem 19-3A (Part Level Submission) Incomplete manufacturing costs, expenses, and selling data for two different cases are as follows Indicate the missing amount for each letter. Case $7,200 4,950 8,250 Direct materials used Direct labor Manufacturing overhead Total manufacturing costs Beginning work in process inventory Ending work in process inventory Sales revenue Sales discounts Cost of goods manufactured Beginning finished goods inventory Goods available for sale 7,670 3,760 18,240 1,330 3,470 24,060 2,570 16,670 22,070 3,140 18,370 Cost of goods sold Ending finished goods inventory Gross profit Operating expenses Net income 7,240 2,820 4,920 LINK TO TEXT VIDEO: SIMILAR PROBLEMExplanation / Answer
Case 1 2 Direct Material used $ 7,200 $ 6,810 Direct labor $ 4,950 $ 7,670 manufacturing Overhead $ 8,250 $ 3,760 Total manufacturing Costs $ 20,400 $ 18,240 beginning Work in process Inventory $ 1,330 $ 7,300 Ending work in process inventory $ 5,060 $ 3,470 Sales Revenue $ 24,060 $ 31,100 Sales Discount $ 2,570 $ 1,030 Costs of goods manufactured $ 16,670 $ 22,070 Beginning finished goods inventory $ 1,700 $ 3,140 Goods available for sale $ 18,370 $ 25,210 Cost of goods sold $ 14,480 $ 22,830 Ending Finished goods inventory $ 3,890 $ 2,380 Gross profit $ 7,010 $ 7,240 operating expense $ 2,820 $ 2,320 Net Income $ 4,190 $ 4,920 Working: Case 1 Case 2 a. Direct Material used $ 7,200 a. Total manufacturing Costs $ 18,240 Direct labor $ 4,950 manufacturing Overhead $ 8,250 Direct labor $ 7,670 manufacturing Overhead $ 3,760 $ 11,430 Total manufacturing Costs $ 20,400 Direct Material used $ 6,810 b. Total manufacturing Costs $ 20,400 b. Costs of goods manufactured $ 22,070 beginning Work in process Inventory $ 1,330 Ending work in process inventory $ 3,470 $ 25,540 Total $ 21,730 Total Costs of goods manufactured $ 16,670 Total manufacturing Costs $ 18,240 Ending Work in process $ 5,060 Beginning Work in process Inventory $ 7,300 c. Goods available for sale $ 18,370 Costs of goods manufactured $ 16,670 c. Costs of goods manufactured $ 22,070 Beginning finished goods inventory $ 3,140 Beginning finished goods inventory $ 1,700 Goods available for sale $ 25,210 d. Goods available for sale $ 18,370 d. Goods available for sale $ 25,210 Ending Finished goods inventory $ 3,890 Ending Finished goods inventory $ 2,380 Cost of goods sold $ 14,480 Cost of goods sold $ 22,830 e. Sales $ 24,060 e. Gross profit $ 7,240 Sales Discount $ 2,570 Net Income $ 4,920 Net Sales $ 21,490 operating expense $ 2,320 Cost of goods sold $ 14,480 f. Cost of goods sold $ 22,830 Gross profit $ 7,010 Gross profit $ 7,240 Net Sales revenue $ 30,070 f. Gross profit $ 7,010 Sales Discount $ 1,030 operating expense $ 2,820 Net Income $ 4,190 Sales revenue $ 31,100