T Titulo 2 AaBbccl AaBbCel AaBbCcl Titulo 5 1 Titulo 6 T Titulo 7 1 Titulo 1 Titulo 1 Titulo 3 I Titulo 4 Reemplazar Seleccionar Estilos Edicin 2. 3. PROBLEM IV (20 Puntos) The following information is available for Elias Company. January 1, 2019 2019 December 31, 2019 Raw materials inventory $ 26,000 $30,000 Work in process inventory 13,500 22,200 Finished goods inventory 30,000 21,000 Materials purchased $150,000 Direct labor 220,000 Manufacturing overhead 180,000 Sales 900,000 Instructions: (a) Compute cost of goods manufactured. (6) Prepare a partial income statement through gross profit Solution PROBLEM IV: (a) Compute Cost of Goods Manufactured Cost of Goods Manufactured Schedule $ $ WIP Beg Inv Direct Materials: RM Beg Inventory $ Add: Purchases of Materials Materials Available for Use $ Less: Ending Inventory Add: Direct Materials Used Direct labor MOH Total Manufacturing Costs Total Cost of Work-in-Process Less: WIP End Inventory Cost of Goods Manufactured (6) Prepare a partial income statement through gross profit Partial Income Statement $ Sales Cost of Goods Sold Beg Inv Finished Goods Add: Cost of Goods Manufactured Cost of Goods Available for Sale Less: End Inv Finished Goods Cost of Goods Sold Gross Profit $ Concentracion