GHI Manufacturing has the following data for the month: Raw materials, May 1 = $8,000 $4,000...

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GHI Manufacturing has the following data for the month: Raw materials, May 1 = $8,000 $4,000 Raw materials, May 31 $7,000 WIP inventory, May 31 = $3,000 FG inventory, May 1= $1,000 FG inventory, May 31 $5,000 WIP inventory, May 1 = $30,000 Direct labor Purchases of materials $95,000 MOH $21,000 Selling & admin. Exp. Sales revenue $40,000 $250,000 Q1: What is the cost of direct materials used? Q2: What is the cost of goods manufactured?. Q3: What is the cost of goods sold? Q4: What is operating income for the period? GHI Manufacturing has the following data for the month: Raw materials, May 1 = $8,000 $4,000 Raw materials, May 31 $7,000 WIP inventory, May 31 = $3,000 FG inventory, May 1= $1,000 FG inventory, May 31 $5,000 WIP inventory, May 1 = $30,000 Direct labor Purchases of materials $95,000 MOH $21,000 Selling & admin. Exp. Sales revenue $40,000 $250,000 Q1: What is the cost of direct materials used? Q2: What is the cost of goods manufactured?. Q3: What is the cost of goods sold? Q4: What is operating income for the period?

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PARTICULARS FORMULA CALCULATIONS ANSWERS Q1 COST OF DIRECT MATERIALS USED BEGINNING MATERIALS C... View the full answer