201-SELF STUDY PROB-WEEK 2-S'12

201-SELF STUDY PROB-WEEK 2-S'12 -...

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!%!89 !%:;9 !%<" .=>?@AB !%!8 )C@@CDE CD FGA BCHHCDE IB>JDF CD FGA CDKADF>=L AMJIFC>D EXERCISE 2-24 (10 MINUTES) The general formula for solving all three cases is as follows: Beginning inventory of finished goods + Cost of goods manufactured during period Ending inventory of finished goods = Cost-of- goods sold expense Using this formula, we can find the missing amounts as follows: Case I II III Beginning inventory of finished goods . ............... $ 84,000* $12,000 7,000 Add: Cost of goods manufactured . ...................... 419,000 95,000 318,000* Subtract: Ending inventory of finished goods . ... 98,000 8,000 21,000 Cost of goods sold . ................................................ $405,000 $99,000 * $304,000 *Amount missing in exercise. .=>?@AB !%:; PROBLEM 2-38 (30 MINUTES) 1. Manufacturing overhead: Indirect labor………………………………. $109,000 Building depreciation ($80,000 x 75%). . 60,000
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This note was uploaded on 02/23/2012 for the course MGMT 201 taught by Professor Rowe during the Spring '08 term at Purdue University-West Lafayette.

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201-SELF STUDY PROB-WEEK 2-S'12 -...

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