In: Accounting
A computer virus destroyed some of the accounting records for Hampton Furniture Company for the periods of 2017-2019. The following information was salvaged from the computer system.
12/31/17 | 12/31/18 | 12/31/19 | ||||||||
Beginning direct materials | $ | 50,250 | F | $ | 45,210 | |||||
Purchases of direct materials | A | 65,250 | 70,125 | |||||||
Ending direct materials | 34,165 | 45,210 | L | |||||||
Direct materials used | 91,385 | 54,205 | M | |||||||
Direct labor | B | 155,050 | 162,000 | |||||||
Manufacturing overhead | 115,325 | G | 127,145 | |||||||
Total manufacturing costs | C | 319,255 | 364,130 | |||||||
Beginning work-in-process inventory | 36,450 | H | 29,635 | |||||||
Ending work-in-process inventory | 21,985 | 29,635 | N | |||||||
Costs of goods manufactured | 386,700 | I | 362,920 | |||||||
Beginning finished goods inventory | 37,000 | J | 42,500 | |||||||
Ending finished goods inventory | D | 42,500 | 39,550 | |||||||
Cost of goods sold | 377,050 | 315,755 | O | |||||||
Net sales | 550,000 | 495,000 | P | |||||||
Selling and Administrative Expenses | 135,950 | K | 130,130 | |||||||
Net income | E | 46,250 | 39,000 | |||||||
Required:
Determine the correct amounts for items A through P.