Question

) Several items are missing below for two different companies for the month of October.

Please only answer Athens not Madrid.............

                                                                                                                Madrid Co.                         Athens Co.

Actual manufacturing overhead                                  $ 344,000                            $ 178,000

Raw materials, Oct. 1                                                         280,280                                 177,000

Raw materials, Oct. 31                                                                    (a)                                 180,000

Materials purchased                                                             712,800                                 342,000

DM used in production                                                        752,400                                          (a)

Direct labor                                                                           1,058,400                                          (b)

Manufacturing overhead applied                                    327,600                                 180,000

Total manufacturing costs                                                             (b)                             1,035,000

Work-in-process, Oct. 1                                                       540,000                                 442,500

Work-in-process, Oct. 31                                                     453,600                                           (c)

Cost of goods manufactured                                                         (c)                             1,024,500

Finished goods, Oct. 1                                                          475,200                                 204,000

Finished goods, Oct. 31                                                        496,800                                          (d)

Sales                                                                                        4,140,000                             1,675,500

Cost of goods sold                                                                            (d)                             1,051,500

Gross profit                                                                                         (e)                                          (e)

Operating expenses                                                              540,000                                           (f)

Net income                                                                                          (f)                                 384,000

Answer 1