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In: Accounting

Account Activity and Relationships Each case is independent. Solve for missing data in alphabetical order. (Hint:...

Account Activity and Relationships

Each case is independent. Solve for missing data in alphabetical order. (Hint: Refer to Exhibit 5.6, p. 168 and the WIP table, p. 176.)

Case A Case B Case C Case D
Sales $170,000 (b) Answer 220,000 (b) Answer
Direct materials 30,000 42,000 (f) Answer 42,000
Direct labor 10,000 (c) Answer 40,000 (c) Answer
Total direct costs (a) Answer 64,000 (e) Answer 60,000
Conversion cost (b) Answer 52,000 (g) Answer (g) Answer
Manufacturing overhead 16,000 (d) Answer 20,000 (f) Answer
Current manufacturing costs (c) Answer (e) Answer 190,000 158,000
Work in process, beginning 14,000 20,000 (d) Answer 42,000
Work in process, ending 10,000 (f) Answer 42,000 (e) Answer
Cost of goods manufactured (d) Answer 64,000 (c) Answer 164,000
Finished goods inventory, beginning 18,000 16,000 14,000 24,000
Finished goods inventory, ending 12,000 (g) Answer 16,000 (d) Answer
Cost of goods sold (e) Answer 70,000 (b) Answer 160,000
Gross profit (f) Answer (a) Answer 36,000 30,000
Selling and administrative expenses 40,000 30,000 (a) Answer (a) Answer
Net income (g) Answer 44,000 24,000 12,000

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