Question

Supply the missing data in the following cases. Each case is independent of the others. (Leave no cells blank - be certain to enter "0" wherever required.) Case 1 2 3 1 5,500 $ $ $ $ 7,000 4,000 5,000 6,000 8,000 4 4,000 5,000 10,000 6,000 19,500 3,500 21,000 4,000 5,000 3,500 19,000 25,600 2,000 Direct materials Direct labour Manufacturing overhead Total manufacturing costs Beginning work-in-process inventory 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 2,000 16,500 26,000 3,500 37,000 41,000 3,000 19,500 2,500 4,500 17,200 8,400 5,000 16,300 20,700 4,450 $ 5,000 $ 7,000 $ 10,000

Answer 1

Answer

--Requirement

	Case 1	Case 2	Case 3	Case 4
Direct materials	$5,500	$7,000	$6,000	$4,000
Direct Labor	$8,000	$4,000	$8,000	$5,000
Manufacturing overhead	$6,000	$5,000	$7,000	$10,000
Total manufacturing costs	$19,500	$16,000	$21,000	$19,000
Beginning WIP Inventory	$3,500	$2,500	$4,000	$4,000
Ending WIP Inventory	$4,000	$2,000	$5,000	$3,500
Cost of Goods manufactured	$19,000	$16,500	$20,000	$19,500
Sales	$25,600	$26,000	$37,000	$41,000
Beginning finished goods inventory	$2,000	$3,500	$1,300	$3,000
Cost of Goods manufactured	$19,000	$16,500	$20,000	$19,500
Goods available for sale	$21,000	$20,000	$21,300	$22,500
Ending finished goods inventory	$3,800	$2,500	$5,000	$4,500
Cost of Goods Sold	$17,200	$17,500	$16,300	$18,000
Gross margin	$8,400	$8,500	$20,700	$23,000
Operating expenses	$3,400	$4,450	$13,700	$13,000
Net Income	$5,000	$4,050	$7,000	$10,000

--Working

	Case 1	Case 2	Case 3	Case 4
Direct materials	5500	7000	6000	4000
Direct Labor	=19500-5500-6000	4000	8000	5000
Manufacturing overhead	6000	5000	=21000-8000-6000	10000
Total manufacturing costs	19500	=7000+4000+5000	21000	=4000+5000+10000
Beginning WIP Inventory	3500	=16500+2000-16000	4000	=19500+3500-19000
Ending WIP Inventory	=19500+3500-19000	2000	5000	3500
Cost of Goods manufactured	19000	16500	=21000+4000-5000	19500
Sales	25600	26000	37000	41000
Beginning finished goods inventory	2000	3500	=21300-20000	3000
Cost of Goods manufactured	19000	16500	20000	19500
Goods available for sale	=2000+19000	=3500+16500	=5000+16300	=3000+19500
Ending finished goods inventory	=21000-17200	2500	5000	4500
Cost of Goods Sold	17200	=20000-2500	16300	=22500-4500
Gross margin	8400	=26000-17500	20700	=41000-18000
Operating expenses	=8400-5000	4450	=20700-7000	=23000-10000
Net Income	5000	=8500-4450	7000	10000

Answer 2

are provided below for four cases. Each case is independent of the others. Required: Supply the missing data in the following cases. Case 1234 Direct materials .......................................... Direct labor ................................................. Manufacturing overhead............................. Total manufacturing costs .......................... Beginning work in process inventory ......... 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 .............................................. Selling and administrative expenses ........... Net operating income ................................. $ 5,000 ? 4,000 17,000 1,500 ? $16,000 $32,000 2,000 ? ? ? 16,500 15,500 ? $ 2,500 $ 9,000 4,000 3,000 ? ? 500 $18,000 $25,000 3,000 ? ? 2,500 ? $ 6,000 9,000 ? 19,000 2,000 5,000 $? $31,000 ? ? ? 3,000 15,500 15,500 $7,000 5,000 5,000 ? ? 2,000 $? $43,000 4,000 18,000 ? 5,500 ? ? ? $ 1,500 ? 5,000 ? $? $4,000

Answer 3

are provided below for four cases. Each case is independent of the others. Required: Supply the missing data in the following cases. Case 1234 Direct materials .......................................... Direct labor ................................................. Manufacturing overhead............................. Total manufacturing costs .......................... Beginning work in process inventory ......... 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 .............................................. Selling and administrative expenses ........... Net operating income ................................. $ 5,000 ? 4,000 17,000 1,500 ? $16,000 $32,000 2,000 ? ? ? 16,500 15,500 ? $ 2,500 $ 9,000 4,000 3,000 ? ? 500 $18,000 $25,000 3,000 ? ? 2,500 ? $ 6,000 9,000 ? 19,000 2,000 5,000 $? $31,000 ? ? ? 3,000 15,500 15,500 $7,000 5,000 5,000 ? ? 2,000 $? $43,000 4,000 18,000 ? 5,500 ? ? ? $ 1,500 ? 5,000 ? $? $4,000

Answer 4

are provided below for four cases. Each case is independent of the others. Required: Supply the missing data in the following cases. Case 1234 Direct materials .......................................... Direct labor ................................................. Manufacturing overhead............................. Total manufacturing costs .......................... Beginning work in process inventory ......... 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 .............................................. Selling and administrative expenses ........... Net operating income ................................. $ 5,000 ? 4,000 17,000 1,500 ? $16,000 $32,000 2,000 ? ? ? 16,500 15,500 ? $ 2,500 $ 9,000 4,000 3,000 ? ? 500 $18,000 $25,000 3,000 ? ? 2,500 ? $ 6,000 9,000 ? 19,000 2,000 5,000 $? $31,000 ? ? ? 3,000 15,500 15,500 $7,000 5,000 5,000 ? ? 2,000 $? $43,000 4,000 18,000 ? 5,500 ? ? ? $ 1,500 ? 5,000 ? $? $4,000

Answer 5

are provided below for four cases. Each case is independent of the others. Required: Supply the missing data in the following cases. Case 1234 Direct materials .......................................... Direct labor ................................................. Manufacturing overhead............................. Total manufacturing costs .......................... Beginning work in process inventory ......... 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 .............................................. Selling and administrative expenses ........... Net operating income ................................. $ 5,000 ? 4,000 17,000 1,500 ? $16,000 $32,000 2,000 ? ? ? 16,500 15,500 ? $ 2,500 $ 9,000 4,000 3,000 ? ? 500 $18,000 $25,000 3,000 ? ? 2,500 ? $ 6,000 9,000 ? 19,000 2,000 5,000 $? $31,000 ? ? ? 3,000 15,500 15,500 $7,000 5,000 5,000 ? ? 2,000 $? $43,000 4,000 18,000 ? 5,500 ? ? ? $ 1,500 ? 5,000 ? $? $4,000