Question

Incomplete manufacturing costs, expenses, and selling data for two different cases are as follows.

Incomplete manufacturing costs, expenses, and selling data for two different cases are as follows. Indicate the missing amount for each letter.

Indicate the missing amount for each letter. Case 1 2 Direct Materials Used $ 8,062 G $ Direct Labor 5,226 8,846 Manufacturing Overhead 8,894 4,540 Total Manufacturing Costs A 18,236 Beginning Work in Process Inventory 1,456 H Ending Work in Process Inventory B 3,240 Sales 25,141 I Sales Discounts 3,125 2,138 Cost of Goods Manufactured 17,704 22,165 Beginning Finished Goods Inventory C 3,886 Goods Available for Sale 19,053 J Cost of Goods Sold D K Ending Finished Goods Inventory 4,427 3,250 Gross Profit E 7,394 Operating Expenses 3,247 L Net Income F 5,282

Answer 1

CASE Particulars Direct materials used Direct labor Manufacturing overhead Total Manufacturing Costs Beginning WIP Invento Ending WIP Invento Sales Sales Discount Cost of Goods Manufactured Beginning Finished Goods Invento Goods Available for Sale Cost of Goods sold Ending Finished Goods Invento Gross Profit Operating Expenses Net Income $8,062$4,850 $5,226$8,846 $8,894$4,540 S22,182$18,236 1,456 $7,169 $5,934 $3,240 $25,141 $32,333 3,125 $2,138 $17,704 $22,165 Ş1,349$3,886 $19,053$26,051 $14,626$22,801 $4,427 $3,250 $7,390$7,394 $3,247 $2,112 $4,143$5,282 WORKINGS Sn.No Particulars Calcualtions Amount $22,182 S5,934 $1,349 $14,626 $7,390 $4,413 $4,850 $7,169 $32,333 $26,051 $26,051 $2,112 ($8,062 +$5,226+$8,894 ($22,182 +$1,456- $17,704 Total Manufacturing Costs Ending WIP Invento Beginning Finished Goods Inventory($19,053 Cost of Goods sold Gross Profit Net income Direct materials used Beginning WIP Invento Sales Goods Available for Sale Cost of Goods sold Operating Expenses $17,704 ($17,704+$1,349- $4,427) ($25,141 - ($3,125$14,626) ($7.390 $3,247 ($18,236 - ($8,846+$4,540 ($22,165+ $3,240 - $18,236 ($22,801 + $7,394+ $2,138 ($22,801 +$3,250) ($22,165 +$3,886-$3,250) ($7,394- $5,282