Question

The following information is taken from the accounting records of four different companies. Provide the missing amounts. Assume there are no indirect materials used in the company finished product Company 1 Company 2 Company 3 Company 4 Direct Materials Inventory, beginning $15,400 $6,700 $165,800

Answer 1

Company 1 Company 2 Company 3 Company 4| $15,400 $25,500 $6,700 $165,800 $379,200 $86,500 $52,200 $259,300 $394,600 $112,000 $58,900 $425,100 $26,800 $20,800 $10,000 $59,750 Direct materials inventory, beginning ($112,000-$86,500) Purchase of direct materials ($394,600-$15,400) Total direct mateials available for use ($6,700+$52,200); ($165,800+$259,300) Direct materials inventory, ending ($112,000-$91,200); ($138,300-$64,300- $25,100 = $48,900 - $58,900) Direct materials used in production ($394,600-$26,800); ($58,900- $10,000); ($425,100-$59,750) Direct labor ($233,800-$106,800-$91,200) Total manufacturing overhead ($926,750-$299, 300-$365,350) Total manufacturing cost ($367,800+$212,100+$254,400) Beginning work in process inventory ($818,400+$49,700-$834,300); ($985,500+$83,050-$926,750) Ending work in process inventory ($138,300+$39,000-$103,450) Cost of goods manufactured ($233,800+$162,900+$35,300) Finished goods inventory, beginning ($432,000-$423,000); ($103,450- $141,050) Cost of goods available for sale ($818,400+$35,300); ($985,500+$26,000) Finished goods inventory, ending ($853,700-$797,400); ($141,050- $108,400) Cost of goods sold ($423,000-$12, 100); ($1,011,500-$51,700) $367,800 $212,100 $254,400 $834,300 $91,200 $35,800 $106,800 $233,800 $48,900 $25,100 $64,300 $138,300 $365,350 $299,300 $262,100 $926,750 $33,800 $49,700 $818,400 $162,900 $35,300 $432,000 $39,000 $73,850 $103,450 $141,800 $83,050 $985,500 $35,300 $853,700 $9,000 $423,000 $37,600 $26,000 $141,050 $1,011,500 $56,300 $797,400 $12,100 $410,900 $32,650 $108,400 $51,700 $959,800