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Jackson Grills Has Supplied the Following Information from Its Accounting

Question 141

Essay

Jackson Grills has supplied the following information from its accounting records for the month of August.
Direct labour cost $11,500
Purchases of raw materials 20,000
Factory depreciation 7,500
Advertising 10,000
Factory property taxes 6,500
Materials inventory, 8/1 1,250
Materials inventory, 8/31 2,500
Work-in-process inventory, 8/1 ?
Work-in-process inventory, 8/31 1,500
Cost of goods manufactured 45,850
Sales revenue ?
Executive salary cost 25,000
Finished goods inventory, 8/1 5,500
Finished goods inventory, 8/31 4,250
Operating income 67,900
Gross margin ?
Required: Solve for the missing amounts (?).

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Jackson Grills
Schedule of Cost of Goods...

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