Determine the missing amounts in each of the following independent cases
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Question
Determine the missing amounts in each of the following independent cases
| Case A | Case B | Case C | |||||||||
| Beginning inventory, raw material | $ | X | $ | 21,000 | $ | 15,000 | |||||
| Ending inventory, raw material | 90,000 | X | 30,000 | ||||||||
| Purchases of raw material | 100,000 | 86,000 | X | ||||||||
| Direct material | 71,000 | 95,000 | X | ||||||||
| Direct labor | X | 100,000 | 125,000 | ||||||||
| Manufacturing overhead | 250,000 | X | 160,000 | ||||||||
| Total manufacturing costs | 520,000 | 345,000 | 340,000 | ||||||||
| Beginning inventory, work in process | 35,000 | 20,000 | X | ||||||||
| Ending inventory, work in process | X | 35,000 | 5,000 | ||||||||
| Cost of goods manufactured | 525,000 | X | 350,000 | ||||||||
| Beginning inventory, finished goods | 50,000 | 40,000 | X | ||||||||
| Cost of goods available for sale | X | X | 370,000 | ||||||||
| Ending inventory, finished goods | X | X | 25,000 | ||||||||
| Cost of goods sold | 545,000 | 330,000 | X | ||||||||
| Sales | X | X | 480,000 | ||||||||
| Gross margin | 255,000 | 170,000 | X | ||||||||
| Selling and administrative expenses | X | 75,000 | X | ||||||||
| Income before taxes | 150,000 | X | 90,000 | ||||||||
| Income tax expense | 40,000 | 45,000 | X | ||||||||
| Net income | X | X | 55,000 | ||||||||
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