16(01)-4A_9e

16(01)-4A_9e - 84,000 44,000 Finished goods inventory,...

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Problem 16(01)-4A Name: Section: Enter the appropriate labels and amounts in the shaded cells below. A red asterisk (*) will appear to the right of an incorrect answer in the outlined cells. 1. Materials inventory, December 1 $25,000 $32,000 Materials inventory, December 31 a. 15,000 Materials purchased 105,000 a. Cost of direct materials used in production 120,000 b. Direct labor 145,000 95,000 Factory overhead 56,000 42,000 Total manufacturing costs incurred during December b. 249,000 Total manufacturing costs 366,000 283,000 Work in process inventory, December 1 45,000 34,000 Work in process inventory, December 31 65,000 c. Cost of goods manufactured c. 252,000 Finished goods inventory, December 1
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Unformatted text preview: 84,000 44,000 Finished goods inventory, December 31 74,000 d. Sales 425,000 320,000 Cost of goods sold d. 254,000 Gross profit e. e. Operating expenses 44,000 f. Net income f. 27,000 2. VINSTON COMPANY Statement of Cost of Goods Manufactured For the Month Ended December 31, 2008 Work in process inventory, December 1, 2008 Direct materials: Cost of direct materials used in production Total manufacturing costs incurred during December Total manufacturing costs Cost of goods manufactured 3. VINSTON COMPANY Income Statement For the Month Ended December 31, 2008 Sales Vinston Company Turkun Company Cost of goods sold: Cost of goods sold: Gross profit Net income...
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This note was uploaded on 12/02/2009 for the course ACC 202 taught by Professor Scottcohen during the Spring '09 term at NC Wesleyan.

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16(01)-4A_9e - 84,000 44,000 Finished goods inventory,...

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