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

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

This preview shows pages 1–2. Sign up to view the full content.

!%!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

This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document
This is the end of the preview. Sign up to access the rest of the document.

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.

Page1 / 2

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

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document
Ask a homework question - tutors are online