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:

Secondary Follicles

Stages in the development of ovarian follicles, marked by an accumulation of fluid and further growth after the primary follicle stage.

Primary Follicles

Early stage follicles in the ovary, consisting of an oocyte surrounded by a single layer of granulosa cells.

Perimetrium

The outermost layer of the uterus, composed of a thin layer of tissue that covers the exterior of the uterus.

Serosa

Serosa is a smooth membrane that covers the outer surface of internal organs and body cavities, providing lubrication.