The Following Information Is from Marchant Manufacturing Co Required:
(A

question 54

Essay

The following information is from Marchant Manufacturing Co.for September:
$\begin{array}{|l|r|}\hline \text { Direct materials used in production } & \$ 95,000 \\\hline \text { Direct labour } & \$ 67,000 \\\hline \text { Total manufacturing cost } & \$ 234,000 \\\hline \text { Raw materials inventory, Sept. 1 } & \$ 24,000 \\\hline \text { Work-in-process inventory, Sept. 1 } & \$ 6,000 \\\hline \text { Finished goods inventory, Sept. 1 } & \$ 101,000 \\\hline \text { Purchases of raw materials } & \$ 102,000 \\\hline \text { Cost of goods manufactured } & \$ 233,000 \\\hline \text { Administrative expense } & \$ 41,000 \\\hline \text { Selling expense } & \$ 56,000 \\\hline \text { Sales } & \$ 344,000 \\\hline \text { Gross margin } & \$ 127,000 \\\hline \text { Net income } & \$ 30,000 \\\hline\end{array}$
Required:
(a.)Compute the cost of goods sold.
(b.)Compute the balance in finished goods inventory at September 30.
(c.)Compute the balance in work-in-process inventory at September 30.
(d.)Compute the balance in raw materials inventory at September 30.
(e.)Compute the total manufacturing overhead.
(Hint: The easiest method of solving this problem is to sketch out the income statement and the schedule of cost of goods manufactured,enter the given amounts,and then enter the unknowns as plug figures.)

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Definitions:

Excel Query Button

A tool in Microsoft Excel that allows users to import data from various sources into their spreadsheet for analysis.

Export Group

A function or feature in software applications that allows users to batch process and export multiple data files or objects together.

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Pre-configured settings that allow users to easily export data from software applications to various formats for backup or use in other programs.

External Data Tab

A feature in applications like Microsoft Access, providing tools for importing, linking, or exporting data from/to external sources.