Chapter 2 Homework 3

Chapter 2 Homework 3 - 870,000.00 Cost of Goods Sold...

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Chapter 2 Case 31 Raw Materials Used Beginning Raw Materials Inventory 30,000.00 +Raw Materials Purchased 420,000.00 - Ending Raw Materials 70,000.00 =Raw Materials Used 380,000.00 Manufacturing Costs Direct Material 380,000.00 +Direct Labor 130,000.00 +Overhead 520,000.00 =Manufacturing Costs 1,030,000.00 Cost of Goods Manufactured Beginning WIP Inventory 50,000.00 +Manufacturing Costs 1,030,000.00 - Ending WIP Inventory 210,000.00 =Cost of Goods Manufactured
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Unformatted text preview: 870,000.00 Cost of Goods Sold Beginning Finished Goods Inventory 90,000.00 +Cost of Goods Manufactured 870,000.00- Ending Finished Goods Inventory 150,000.00 =Cost of Goods Sold 810,000.00 Income Statement Sales 1,350,000.00- Cost of Goods Sold 810,000.00 =Gross Margin 540,000.00 Inventories at the Date of the Accident Raw Materials: $70,000.00 Work In Process: $210,000.00 Finished Goods: $150,000.00...
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