Asked on 23 Mar 2020

Determine the missing amounts in each of the following independent cases. Case A Case B Case C $240,000 7,500 15,000 Sales Beginning inventory, raw material Ending inventory, raw material Purchases of raw material Direct material used Direct labor Manufacturing overhead Total manufacturing costs Beginning inventory, work in process Ending inventory, work in process Cost of goods manufactured Beginning inventory, finished goods Cost of goods available for sale Ending inventory, finished goods Cost of goods sold Gross margin Selling and administrative expenses Income before taxes Income tax expense Net income 60,000 180,000 200,000 140,000 255,000 285,000 300,000 62,500 80,000 170,000 500,000 1,040,000 1,035,000 60,000 105,000 70,000 2,500 1,050,000 100,000 175,000 120,000 185,000 12,500 1,090,000 510,000 990,000 510,000 225,000 300,000 80,000 45,000 135,000 27,500

 

 

Answered on 23 Mar 2020

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