The accounts for a manufacturing company for an accounting period are listed below. Sales $39,000 Cost of
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Question:
The accounts for a manufacturing company for an accounting period are listed below.
Sales | $39,000 |
Cost of goods sold | ? |
Cost of goods manufactured | ? |
Purchases of direct materials | $11,000 |
Direct labour | $5,000 |
Finished goods inventory, beginning | $5,000 |
Work in process, beginning | $800 |
Work in process, ending | $3,000 |
Gross margin | $11,700 |
Finished goods inventory, ending | ? |
Accounts payable, beginning | $4,000 |
Accounts payable, ending | $2,800 |
Direct materials inventory, beginning | $1,000 |
Direct materials inventory, ending | $3,000 |
Direct materials used | ? |
Indirect labour | $2,000 |
Indirect materials used | $4,000 |
Utilities expense, factory | $3,000 |
Depreciation on factory equipment | $7,000 |
Required:
- Find the unknown amounts indicated by question marks.
Related Book For
Financial and Managerial Accounting the basis for business decisions
ISBN: 978-0078111044
16th edition
Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello
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