Calculating Missing Amounts and Cost of Goods Manufactured and Sold [LO6]
| For each of the following independent cases (1’4), compute the missing values.(Input all amounts as positive values. Omit the “$” sign in your response.) Don't use plagiarized sources. Get Your Custom Essay on calculating missing amounts and cost of goods manufactured and 380969 For $10/Page 0nly |
| Case 1 | Case 2 | Case 3 | Case 4 | |||||
| Beginning raw materials | $ | 5,000 | $ | $ | 20,000 | $ | 110,000 | |
| Raw material purchases | 45,000 | 12,250 | 41,640 | |||||
| Indirect materials issued | 1,000 | 1,000 | 1,500 | 2,000 | ||||
| Ending raw materials | 2,000 | 2,250 | 93,500 | |||||
| | | | | | | | | |
| Direct materials used | 13,500 | 33,720 | ||||||
| Direct labor | 29,000 | 123,250 | ||||||
| Manufacturing overhead applied | 52,000 | 40,350 | 31,080 | 541,730 | ||||
| Total current manufacturing costs | 75,600 | 92,900 | ||||||
| | | | | | | | | |
| Beginning work in process | 41,000 | 32,600 | 102,520 | |||||
| Ending work in process | 41,250 | 236,100 | ||||||
| | | | | | | | | |
| Cost of goods manufactured | 139,000 | 79,800 | 89,225 | 825,900 | ||||
| Beginning finished goods | 72,000 | 51,900 | ||||||
| Ending finished goods | 80,000 | 30,100 | 397,200 | |||||
| | | | | | | | | |
| Cost of goods sold | 71,000 | 113,375 | 839,400 | |||||
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