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Case A Case B Case C Beginning inventory, raw material 96,000 7,000 Ending inventory, raw material 198,000 33,000 Purchases of raw material 290,000 273,000 Direct material used 230,000 321,000 Direct labor 390,000 71,500 Manufacturing overhead 590,000 98,000 Total manufacturing...

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Accounting

CaseACaseBCaseC
Beginning inventory, raw material96,0007,000
Ending inventory, raw material198,00033,000
Purchases of raw material290,000273,000
Direct material used230,000321,000
Direct labor390,00071,500
Manufacturing overhead590,00098,000
Total manufacturing costs1,130,0001,125,000217,000
Beginning inventory, work in process88,00078,000
Ending inventory, work in process123,0004,300
Cost of goods manufactured1,086,000220,000
Beginning inventory, finished goods190,000138,000
Cost of goods available for sale235,000
Ending inventory, finished goods21,500
Cost of goods sold1,180,0001,062,000
Sales420,000
Gross margin528,000528,000
Selling and administrative expenses261,000
Income before taxes390,00063,000
Income tax expense98,000159,000
Net income36,500

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