Question

Theta Electronics manufactures and sells a line of radio. Unfortunately, Theta Electronics suffered serious fire damage at its home office. As a result, the accounting records for October were partially destroyed-and completely jumbled. Theta Electronics has hired Requirement you to help figure out the missing pieces of the accounting puzzle. Assume that the Raw Find the following amounts: Materials Inventory contains only direct materials. 囲 Click the icon to view the amounts a. Cost of Goods Sold in October b. Beginning Raw Materials Inventory c. Ending Finished Goods Inventory

need help with B and C

Answer 1

b)

Direct material used in October	$   8,400
Add: Direct material inventory, October 31	$   3,000
Less: Purchases of direct material in October	$ (9,400)
Beginning raw materials inventory	$   2,000

c)

Revenues in October	$   27,800
Less: Gross profit in October	$ (12,200)
Cost of goods sold	$   15,600

Direct material used in October	$      8,400
Add: Direct labor in October	$      3,500
Add: Manufacturing overhead in October	$      6,300
Add: Work in process inventory, October 1	$               -
Less: Work in process inventory, October 31	$   (1,300)
Cost of goods manufactured	$   16,900
Add: Finished goods inventory, October 1	$      4,900
Less: Cost of goods sold	$ (15,600)
Ending finished goods inventory	$      6,200

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