Problem 1-3A Incomplete manufacturing costs, expenses, and selling data for two different cases are as follows.

Problem 1-3A

Incomplete manufacturing costs, expenses, and selling data for two different cases are as follows.

 

 

 

Case 1

A = $9,600 + $5,000 + $8,000 = $22,600

$22,600 + $1,000 – B = $17,000

B = $22,600 + $1,000 – $17,000 = $6,600

$17,000 + C = $22,000

C = $22,000 – $17,000 = $5,000

D = $22,000 – $3,400 = $18,600

E = ($24,500 – $2,500) – $18,600 = $3,400

F = $3,400 – $2,500 = $900

Case 2

G + $8,000 + $4,000 = $16,000

G = $16,000 – $8,000 – $4,000 = $4,000

$16,000 + H – $3,000 = $24,000

H = $24,000 + $3,000 – $16,000 = $11,000

(I – $1,400) – K = $7,000

(I – $1,400) – $24,800 = $7,000

I = $1,400 + $24,800 + $7,000 = $33,200

J = $24,000 + $3,300 = $27,300

K = $27,300 – $2,500 = $24,800

$7,000 – L = $5,000

L = $2,000

 

Prepare a condensed cost of goods manufactured schedule for Case 1.

 

Prepare an income statement for Case 1.
 

 

Prepare the current assets section of the balance sheet for Case 1. Assume that in Case 1 the other items in the current assets section are as follows: Cash $3,000, Receivables (net) $15,000, Raw Materials $600, and Prepaid Expenses $400.

 

Thanks

 

Incomplete manufacturing cost data for Horizon Company for 2017 are presented as follows for four different situations.

Incomplete manufacturing cost data for Horizon Company for 2017 are presented as follows for four different situations.

Explanation

(a)$117,000 + $140,000 + $87,000 = $344,000 

(b)$344,000 + $33,000 – $360,000 = $17,000 

(c)$450,000 – ($200,000 + $132,000) = $118,000

 (d)$40,000 + $470,000 – $450,000 = $60,000 

(e)$265,000 – ($80,000 + $100,000) = $85,000 

(f)$265,000 + $60,000 – $80,000 = $245,000 

(g)$288,000 – ($70,000 + $75,000) = $143,000 

(h)$288,000 + $45,000 – $270,000 = $63,000

Prepare a condensed cost of goods manufactured schedule for situation (1) for the year ended December 31, 2017.
 
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