Solution-What should be the amount of direct materials

What should be the amount of direct materials available

Reference no: EM133055312

Question - GigaBite Company's computer system recently crashed, erasing much of the company's financial data. The following accounting information was discovered soon afterwards on the Chief Financial Officer's back-up computer data.

Cost of Goods Sold $392,000

Work-in-Process Inventory, Beginning 33,000

Work-in-Process Inventory, Ending 43,600

Selling and Administrative Expense 55,400

Finished Goods Inventory, Ending 16,800

Finished Goods Inventory, Beginning ?

Direct Materials Purchased 184,200

Factory Overhead Applied 130,000

Operating Income 28,600

Direct Materials Inventory, Beginning 21,600

Direct Materials Inventory, Ending 6,600

Cost of Goods Manufactured 352,000

Direct Labor 64,000

The Chief Financial Officer of GigaBite Company has asked you to recalculate the following accounts and report to him by week's end.

Required - What should be the amount of direct materials available for use?

Reference no: EM133055312

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What should be the amount of direct materials available

Reference no: EM133055312

Reference no: EM133055312

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