Question

In: Accounting

Use the following information to determine the gross margin for IntelManufacturing for the year just ended...

Use the following information to determine the gross margin for IntelManufacturing for the year just ended (all amounts are in thousands ($ 000’s) of dollars:

Accounts payable, 1/1 1,700

Accounts payable, 12/31 1,500

Depreciation on factory equipment 2,500

Direct labor 8,000

Direct materials inventory, 1/1 8,000

Direct materials inventory, 12/31 1,000

Finished goods inventory, 1/1 20,000

Finished goods inventory, 12/31 21,300

Indirect labor 1,600

Indirect materials used 1,500

Purchases of direct materials 8,000

Sales $21,800

Utilities expense, factory 900

Work in process inventory, 1/1 1,800

Work in process inventory, 12/31 10,000

Expert Solution

Computing the gross profit by using excel sheet:

Presenting the result of above excel sheet:

ekkarill92 answered 1 year ago

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