When I was a boy of fourteen, my father was so ignorant I could hardly stand to have the old man around.
But when I got
to be twenty-one I was astonished at how much the old man had learned in seven years.--
1. Ms. B. BARTRAM, an auditor for the IRS, is trying to reconstruct some partially destroyed records
of a taxpayer.
For the data below, find the unknown amounts A through D.
Finished Goods, 12/31/01
Finished Goods, 12/31/02
Cost of Goods Sold
Direct Material, 12/31/01
Direct Material used
Direct Material, 12/31/02
Direct Mfg. Labor used
Cost of Goods Mfg.
Direct Material purchases
What is the Cost of Goods sold (A) for 2002?
What was Cost of Goods Manufactured (B) for 2002?
What was the ending WIP (C) for 2002?
How much direct materials were purchased (D) in 2002?