The following information is from Marchant Manufacturing Co. for September: Direct materials used in production Direct l
Posted: Mon May 30, 2022 6:41 am
- The Following Information Is From Marchant Manufacturing Co For September Direct Materials Used In Production Direct L 1 (108.98 KiB) Viewed 21 times
(a.) Compute the cost of goods sold.
(b.) Compute the balance in finished goods inventory at September 30.
(c.) Compute the balance in work-in-process inventory at September 30.
(d.) Compute the balance in raw materials inventory at September 30.
(e.) Compute the total manufacturing overhead.
The following information is from Marchant Manufacturing Co. for September: Direct materials used in production Direct labour Total manufacturing cost Raw materials inventory, Sept. 1 Work-in-process inventory, Sept. 1 Finished goods inventory, Sept. 1 Purchases of raw materials Cost of goods manufactured Administrative expense Selling expense Sales Gross margin Net income $95,000 $67,000 $234,000 $24,000 $6,000 $101,000 $102,000 $233,000 $41,000 $56,000 $344,000 $127,000 $30,000 Required: (a.) Compute the cost of goods sold. (b.) Compute the balance in finished goods inventory at September 30. (c.) Compute the balance in work-in-process inventory at September 30. (d.) Compute the balance in raw materials inventory at September 30. (e.) Compute the total manufacturing overhead.