Question: Certain item descriptions and amounts are missing from the monthly calculation of cost of goods manufactured and the income statement of Tioga Manufacturing Company. Fill
Certain item descriptions and amounts are missing from the monthly calculation of cost of goods manufactured and the income statement of Tioga Manufacturing Company. Fill in the missing items.
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Calculation of the Cost of Goods Manufactured $ 20,000 Beginning Add: Direct Beginning raw materials inventory Purchases of direct materials 58,000 83,000 (29,000) Ending raw materials inventory Direct Direct Manufacturing overhead Total costs Totalcosts Less: Ending 47,000 $171,000 (23,000) Tioga Manufacturing Company June 30 Sales revenue Cost of goods sold: Beginning $111,000 Cost of goods Ending Cost of goods sold Gross profit 216,000 264,000 expenses: Marketing expense $100,000 167,000 S X Administrative expense Operating income
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