COST ACCOUNTING

Four Cases
 
Supply   the   missing   data   in   the   four   cases   below.   Each   case   is   independent   of   the  
others.  
 
       
  ______________ Case______________  
  1   2   3   4  
  Schedule  of  Cost  of  Goods  Manufactured  
  Direct  materials ..................................   $7.000   $9.000   $6.000   $8.000  
  Direct  labor.........................................   $2.000   $4.000   ?   $3.000  
  Manufacturing  overhead...................   $10.000   ?   $7.000   $21.000  
  Total  manufacturing  costs.................   ?   $25.000   $18.000   ?  
  Beginning  work  in  process  inventory   ?   $1.000   $2.000   ?  
  Ending  work  in  process  inventory.....   $4.000   $3.500   ?   $2.000  
  Cost  of  goods  manufactured.............   $18.000   ?   $16.000   $31.500  
 
 
  Income  Statement  
  Sales....................................................   $25.000   $40.000   $30.000   $40.000  
  Beginning  finished  goods  inventory .   $6.000   ?   $7.000   $9.000  
  Cost  of  goods  manufactured.............   $18.000   ?   $16.000   $31.500  
  Goods  available  for  sale.....................   ?   ?   ?   ?  
  Ending  finished  goods  inventory ......   $9.000   $4.000   ?   $7.000  
  Cost  of  goods  sold .............................   ?   $26.500   $18.000   ?  
  Gross  margin ......................................   ?   ?   ?   ?  
  Selling  and  administrating  expenses   $6.000   ?   ?   $10.000  
  Net  operating  income........................   ?   $5.500   $3.000   ?  
 
 

G [P28 – 2.87] LO3, LO4 1