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

Instructions

a. Indicate the missing amount for each letter.

b. Prepare a condensed cost of goods manufactured schedule for Case 1.

c. Prepare an income statement and the current assets section of the statement of financial position for Case 1. Assume that in Case 1 the other items in the current assets section are as follows: Cash ¥30,000, Receivables (net) ¥150,000, Raw Materials ¥6,000, and Prepaid Expenses ¥4,000.

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Case 1 2 Direct materials used ¥ 96,000 ¥ (g) Direct labor 50,000 80,000 Manufacturing overhead Total manufacturing costs Beginning work in process inventory Ending work in process inventory 80,000 (a) 40,000 160,000 (h) 30,000 (i) 14,000 240,000 10,000 (b) 245,000 25,000 170,000 (c) 220,000 (d) 34,000 Sales revenue Sales discounts Cost of goods manufactured Beginning finished goods inventory Cost of goods available for sale Cost of goods sold Ending finished goods inventory Gross profit Operating expenses Net income 33,000 (j) (k) 25,000 (e) 70,000 25,000 (f) (1) 50,000