Question: 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
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 balance sheet for Case 1. Assume that in Case 1 the other items in the current assets section are as follows: Cash $4,000, Receivables (net) $15,000, Raw Materials $600, and Prepaid Expenses $400.
Case $ (g) 8,000 $ 7,600 5,000 Direct Materials Used Direct Labor Manufacturing Overhead Total Manufacturing Costs Beginning Work in Process Inventory Ending Work in Process Inventory 8,000 4,000 18,000 (h) (a) 1,000 (b) 24,500 3,000 (i) 1,400 Sales Sales Discounts 2,500 22,000 Cost of Goods Manufactured 17,000 Beginning Finished Goods Inventory (c) 18,000 3,300 (G) (k) 2,500 7,000 (1) 5,000 Goods Available for Sale (d) 3,400 (e) Cost of Goods Sold Ending Finished Goods Inventory Gross Profit Operating Expenses 2,500 Net Income (f) 2.
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a Case 1 A 7600 5000 8000 20600 20600 1000 B 17000 B 20600 1000 17000 4600 17000 C 18000 C 18000 170... View full answer
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