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Insert Page Layout FormulasData Review View Cut Home Calibri (Body) 11 A-A Paste Blu Format Activate Office to Create and Edit Buy Office or sign in to activate Office if youve already bough 1 BA-Question: Incomplete manufacturing costs, expenses, and selling data for two different cases are as follows. Indicote the missing amount of different cost items, and prepare a condensed cost of goods manufactured 5 schedule, an income statement, and a partial balance sheet. Case 9,600 10 Direct materials used 11 , Direct labor 12 Manufacturing overhead 13 Total manufacturing costs 14 Beginning work in process inventory 15 Ending work in process inventony 16 Sales revenue 17 Sales discounts 18 Cost of goods manufactured 19 Beginning finished goods inventory 5,000 8,000 8,000 16,000 1,000 3,000 24,500 2,500 17,000 1,400 24,000 3,300 20 Cost of goods available for sale 21 Cost of goods sold 22 Ending finished goods inventory 23 Gross profit 24 Operating expenses 25 Net income 22,000 3,400 2,500 2,500 7,00 5,000 27 Indicate the missing amount for each letter. 29
Paste Format Activate Office to Create and Edit Buy Office or sign in to activate Office if youve already bought it. a.Indicate the missing amount for each letter. Direct materials used . Direct labor 9,600 !ㅡㅡ 8,000 Manufacturing overhead 8,000 5 (a) Total manufacturing costs 6 (h) Beginning work in process inventory 7(b) Ending work in process inventory 16,000 1,000 3,000 Sales revenue 24,500 2,500 17,000 Sales discounts Cost of goods manufactured 24,000 0 1 (c) Beginning finished goods inventory 20 Cost of goods available for sale 43 (dxk) Cost of goods sold 22,000 solve k, before () Ending finished goods inventory 45 (e) Gross profit 46 ( Operating expenses 471(n Net income 5,000 b. Prepare a condensed cost of goods manufactured schedule for Case 1 50 51 CASE 1 Cost of Goods Manufactured Schedule Work in process, beginning Direct materials Direct labor Manufacturing overhead 56 58 59 60 61 Total manufacturing costs Total cost of work in process Less: Work in process, ending Cost of goods manufactured 63 C Presare an income statement and the current assets section of the balance sheet for Case 1. CH14.P1.A.Questions+ Ready
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Calculations for missing figures:Calculations for missing figures: Case Explanation Given Given Given 9600+5000+8000 Given 22600+1000 23600-17000 Given 22000-17000 Given Given 22000-3400 Explanation 2 Direct Materials used Direct Labor Manufacturing Overheads Total manufacuring costs Beginning Work in Process inventory Total Cost of work in process 9,6001 5,000 8,000 4,000 8,000 4,000 16,000 11,000 Add: Add: Given Given Given 27000-16000 22,600 Add: 1,000 23,60024000+3000 27,000 ess: Ending Work in Process inventory Add: Beginning finished goods inventory Less: Ending finished goods inventory 6,600 17,000 5,000 22,000 3,400 18,600 3,000 24,000 3,300 27,300 2,500 24,800 Given Given Given Cost of goods manufactured Cost of goods available for sale 24000+3300 Given Cost of Goods sold 27300-2500 24,500 31800+1400 Sales revenue Sales discounts Net Sales Cost of Goods sold: Gross profit Operating expenses Net Income 33,200 Given Given 24500-2500 from above 22000-18600 Given 2,500 22,000 18,600 Given 24800+7000 from above Given 7000-5000 Given Less: 31,800 24,800 7,000 2,000 5,000 Less: 2,500 400 2500900 Indication of missing amount for each letter:-a. Indication of the missing amount for each letter: Case Explanation Explanation Given 2 9,600 See first table 5,000 8,000 )Direct Materials used 4,000 8,000 4,000 16,000 11,000 3,000 33,200 1,400 24,000 3,300 27,300 24,800 2,500 7,000 2,000 5,000 Direct Labor Given Manufacturing Overheads See first table Given See first table Given Given 22,600 Given tal manufacuring cos Beginning Work in Process invento Ending W Sales revenue Sales discounts Cost of goods manufactured Beginning finished goods inventory Cost of goods available for sale 1,000See first table 6,600 ork in Process inventory 24,500 17,000 22,000 See first table Given Given Given See first table See first table Given See first table Given See first table Given See first table 5,000 i) (d) (k) Cost of Goods sold 18,600See first table Ending finished goods inventory Gross profit Operating expenses Net Income 3,400 3,400 2,500 See first table Given 900 Given b. cost of goods manufactured schedule and income statementb. Cost of Goods Manufactured Schedule for Case 1:- Cost of Goods Manufactured Schedule Case 1 Particulars Work in Process, beginnin Direct Materials Direct Labor Manufacturing Overheads Total manufacuring costs Total Cost of work in process Less: Work in Process, ending (bal. fig.) Cost of goods manufactured (Given 1,000 9,600 5,000 8,000 22,600 23,600 6,600 17,000 c. Income Statement Income Statement Case 1 Sales revenue Sales discounts Net Sales Given Given 24500-2500 24,500 2,500 Less 22,000 Less Cost of Goods sold: Beginning finished goods inventory Cost of goods manufactured Cost of goods available for sale Ending finished goods inventory Cost of Goods sold Gross profit Operating expenses Net Income 5,000 17,000 22,000 3,400 22000-17000 Given Given Given 22000-3400 22000-18600 Given 3400-2500 Less 18,600 3,400 2,500 900Current assets section

Current assets section of Balance Sheet Case 1 Balance Sheet as at Assets Current Assets Cash Accounts receivable Inventory 3,000 15,000 Raw materials Work in process Finished Goods 600 6,600 3,400 10,600 Prepaid expenses 400 Total current assets 29,000feel free to ask any clarification if required. Please provide feedback by thumbs up if satisfied. thank you

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