Great Electronics manufactures and sells a line of radio. Unfortunately, Great E

Question

Great Electronics manufactures and sells a line of radio. Unfortunately, Great Electronics suffered serious fire Click the icon toview the amounts. records for October were partially destroyed- and completely jumbled. Great Electronics has hired you to help figure out the missing pieces of the accounting puzzle. Assume that the Raw Materials Inventory contains only direct materials. Find the following amounts: a. Cost of Goods Sold in October b. Beginning Raw Materials Inventory c. Ending Finished Goods Inventory a. Find the Cost of Goods Sold in October. Determine the Cost of Goods Sold in October by completing the following table. $ 27,600 Revenues Cost of goods sold Gross Profit b. Find the beginning Raw Materials Inventory. Determine the beginning Raw Materials Inventory by completing the following table. Beginning raw materials inventory 12,000 Materials available for use

Explanation / Answer

b) Calculate beginning raw material inventory :

so beginning raw material inventory is $1600

Beginning direct material inventory (11100-9500) 1600 Material purchase 9500 Material available for use 11100 Less: Ending direct material inventory (3100) Dirct material used 8000

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