TB MC Qu. 3-47 Stephenson Company's computer system recently cras... Stephenson Company's computer system recently crashed,...
TB MC Qu. 3-47 Stephenson Company's computer system recently cras...
Stephenson Company's computer system recently crashed, erasing much of the company's financial data. The following accounting information was discovered soon afterwards on the CFO's back-up computer data.
| Cost of Goods Sold | $ | 387,000 | |
| Work-in-Process Inventory, Beginning | 31,750 | ||
| Work-in-Process Inventory, Ending | 42,100 | ||
| Selling and Administrative Expense | 53,150 | ||
| Finished Goods Inventory, Ending | 16,050 | ||
| Finished Goods Inventory, Beginning | ? | ||
| Direct Materials Purchased | 178,700 | ||
| Factory Overhead Applied | 122,500 | ||
| Operating Income | 25,850 | ||
| Direct Materials Inventory, Beginning | 20,100 | ||
| Direct Materials Inventory, Ending | 6,350 | ||
| Cost of Goods Manufactured | 347,000 | ||
| Direct Labor | 60,250 | ||
The CFO of Stephenson Company has asked you to recalculate the following accounts and report to him by week's end.
What should be the amount of direct materials used?
Homework Answers
| Direct Materials Inventory, Beginning | 20100 |
| Add: Direct Materials Purchased | 178700 |
| Direct Materials available for use | 198800 |
| Deduct: Direct Materials Inventory, Ending | 6350 |
| Direct Materials used | 192450 |
Answer: Direct Materials used $192,450
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TB MC Qu. 3-47 Stephenson Company's computer system recently
cras...
Stephenson Company's computer system recently crashed,...
Stephenson Company's computer system recently crashed, erasing much of the company's financial data. The following accounting...
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? Help me please
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Please show explanation, thanks
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