Fill in the Missing Data for Company C

question 79

Short Answer

Fill in the missing data for Company C:
$\begin{array}{|l|c|}\hline & \text { Company C } \\\hline \text { Direct materials used } & \$ 6,000 \\\hline \text { Direct labor cost } & \text { (a) } \\\hline \text { Overhead } &7 , 000 \\\hline \text { Total manufacturing costs } & 18,000 \\\hline \text { Work in process inventory, Jan. } 1 & 2,000 \\\hline \text { Work in process inventory, Dec. } 31 & \text { (b) } \\\hline \text { Sales revenue } & 30,000 \\\hline \text { Finished goods inventory, Jan. } 1 & 7,000 \\\hline \text { Cost of goods manufactured } & \text { (c) } \\\hline \text { Cost of goods available for sale } & 23,000 \\\hline \text { Finished goods inventory, Dec. } 31 & \text { (d) } \\ \hline \text { Cost of goods sold } & 18,000 \\\hline \text { Gross margin } & \text { (e) } \\\hline \text { Operating expenses } & \text { (f) } \\\hline \text { Operating income } & 3,000\\\hline\end{array}$

---

Definitions:

Theodor Engelmann

A 19th-century German biologist and physician known for his work on photosynthesis and the action spectrum of chlorophyll.

Photosynthesis

The process by which green plants, algae, and some bacteria convert light energy into chemical energy, producing oxygen and glucose.

Light Colors

Hues that reflect a large portion of the visible light spectrum, making them appear bright to the human eye.