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Jackson Grills Has Supplied the Following Information from Its Accounting

Question 146

Essay

Jackson Grills has supplied the following information from its accounting records for the month of August.
Required: Solve for the missing amounts (?).
 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, 8/11,250 Materials inventory, 8/312,500 Work-in-process inventory, 8/1? Work-in-process inventory, 8/311,500 Cost of goods manufactured 45,850 Sales revenue ? Executive salary cost 25,000 Finished goods inventory, 8/15,500 Finished goods inventory, 8/314,250 Operating income 67,900 Gross margin ?\begin{array} { l r } \text { Direct labour cost } & \$ 11,500 \\\text { Purchases of raw materials } & 20,000 \\\text { Factory depreciation } & 7,500 \\\text { Advertising } & 10,000 \\\text { Factory property taxes } & 6,500 \\\text { Materials inventory, } 8 / 1 & 1,250 \\\text { Materials inventory, } 8 / 31 & 2,500 \\\text { Work-in-process inventory, } 8 / 1 & ? \\\text { Work-in-process inventory, } 8 / 31 & 1,500 \\\text { Cost of goods manufactured } & 45,850 \\\text { Sales revenue } & ? \\\text { Executive salary cost } & 25,000 \\\text { Finished goods inventory, } 8 / 1 & 5,500 \\\text { Finished goods inventory, } 8 / 31 & 4,250 \\\text { Operating income } & 67,900 \\\text { Gross margin } & ?\end{array}

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