1.8 Calculate the amount of direct materials usedPurchase of direct materials6300Fares400Wealth taxes800Final stock of direct materials1300Initial stock of direct materials4100

To calculate the amount of direct materials used, we can use the following formula: Direct Materials…

Answered: 1.8 Calculate the amount of direct…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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How much is the total cost of inventories purchased? A. 989,000 B. 1,006,000 C. 954,000 D. 826,000
Line Item Description 20X1 20X2 Current assets: Accounts receivable $750,000 $582,500 Inventories 300,000 320,000 Current liabilities: Wages payable 700,000 515,000 Davis CompanyIncome StatementFor the Year Ended December 31, 20X2 Line Item Description Amount Amount Revenues $3,000,000 Cost of goods sold 1,920,000 Gross margin $1,080,000 Operating expenses Depreciation 270,000 Operating income $ 810,000 Other revenues and expenses Gain on sale of equipment 100,000 Interest expense 10,000 90,000 Net income $ 900,000 Required: Compute operating cash flows using the indirect method.
49
pls answer the following question
Direct Materials Beginning balance $5,000 Ending balance 16,000 Purchases 55,000 Direct materials used
Compue the value by LCNRV
Dog
Opening stock of Raw material is 180000 OMR , Freight Inwards 5000 OMR, Purchases of Raw material 730000 OMR, Purchase returns is 1000 OMR and Closing stock of Raw material is 28000 OMR, Wages is 85,000 OMR direct Expenses is 75000 OMR Calculate Prime cost. a. 1,059,000 OMR b. 984,000 OMR c. None of these d. 1,046,000 OMR
Kindly answer pls
#37 On June 7, 2020, TOTTENHAM Company acquired P3,000,000 inventory, terms 3/10, 2/20, 1/30, n/60. The Company made the following account payments: Assuming that partial payments are eligible for cash discounts, if paid within the relevant discount period, how much total cash was paid during these four payment dates?
Opening stock of Raw material is 280000 OMR ,Freight Inwards 3000 OMR, custom duty on purchases 2000 OMR, Purchases of Raw material 930000 OMR, Purchase returns is 1000 OMR and Closing stock of Raw material is 28000 OMR, Calculate Raw material consumed Select one: a. 1,059,000 OMR b. 984,000 OMR c. 1,186,000 OMR d. 750,000 OMR
QUESTION 3 ABC Corporation purchases 3,000 units of inventory. Payment to its supplier is $30.00 per unit. In addition, the company pays an import duty of 8 percent and shipping costs of $5,400 for the full order. What is the capitalized acquisition cost per unit that the company will record? O a. $34.34 O b.$30.00 O c. $32.40 O d. $34.20

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Purchase of direct materials	6300
Fares	400
Wealth taxes	800
Final stock of direct materials	1300
Initial stock of direct materials	4100

1.8 Calculate the amount of direct materials used Purchase of direct materials 6300 Fares 400 Wealth taxes 800 Final stock of direct materials 1300 Initial stock of direct materials 4100