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Author Question: Homeco a start up manufacturing company's bookkeeper left suddenly leaving rather ... (Read 32 times)

wrbasek0

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Homeco a start up manufacturing company's bookkeeper left suddenly leaving rather incomplete
accounting records for the last month of his employment. You have been hired to sort out the puzzle. Assume Homeco's raw materials inventory contains only direct materials. You have the following information available:

Work in process inventory, May 30$9,300
Finished goods inventory, May 112,000
Direct labour in April13,100
Purchases of direct material in May26,900
Work in process inventory, May 13,200
Revenues in May61,000
Gross profit in May27,500
Direct materials used in May31,600
Raw materials inventory, May 309,800
Manufacturing overhead in May17,300

Find the following amounts:
A. Cost of goods sold in May.
B. Beginning raw materials inventory.
C. Ending finished goods inventory.


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Marked as best answer by wrbasek0 on Jan 4, 2020

aidanmbrowne

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wrbasek0

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Reply 2 on: Jan 4, 2020
Excellent


peter

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Reply 3 on: Yesterday
Great answer, keep it coming :)

 

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