5)Cost of goods manufactured equals $95000 for 2017. Finished goods inventory is $1000 at the beginning of the year and $2500 at the end of the year. Beginning and ending work in process for 2017 are $2000 and S3000, respectively. How much is cost of goods sold for the year? a) S94000 bj S93500 ) S96500 d) 595500

5)Cost of goods manufactured equals $95000 for 2017. Finished goods inventory is $1000 at the beginning of the year and $2500 at the end of the year. Beginning and ending work in process for 2017 are $2000 and S3000, respectively. How much is cost of goods sold for the year? a) S94000 bj S93500 ) S96500 d) 595500

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Q10: What is 2021 Gross Margin Percentage?
5- The annual production capacity of Enterprise A is 20,000 units. For the year 2020 of the enterprise; The breakdown of production-sales volume and some expense items is as follows. According to the normal cost method, how much is the end-of-period inventory cost of the business? a) 530,000 B) 425,000 NS) 480,000 D) 430,000 TO) 500,000
Collected these information from Bell Telecom Company (Egypt) producing 3 products"E" ,"F", and "G" for the year 2022:First: Sales:- Estimated sales "E" 11,000,000 EGP "F" 8,400,000 EGP "G" 7,380,000 EGP- Sales price/unit 440 EGP 420 EGP 410 EGPSecond: Production and Inventory (finished goods):- Total estimated sales units for product (E) will allocate for first quarter, second quarter,third quarter, and fourth quarter by equally.- For calculating of ending inventory of Finished Goods (F.G.) of product (E), 1/4 of salesunits of the next quarter are used except the fourth quarter 4/4 of sales units of the samequarter.- Ending inventory of Finished Goods (F.G.) for first quarter = 1250 units for product (E).- Beginning inventory of Finished Goods (F.G.) for first quarter = 2300 units for product (E).- Ending inventory of Finished Goods (F.G.) for product (F) and (G) 1/4 of sales units.- Inventory 31/12/2021 for product (F) and (G) are 1600 and 1100 units, respectivelyThird: Raw materials…
24,600 с. Finished goods RM28,840 Required: O Prepare statement of cost production for the year ended 31 December 2020. O Prepare statement of comprehensive income for the year ended 31 December 2020. Eng Tat is a manufacturer. His trial balance as at 31 December 2020 is as follows: Particulars Debit RM 1,760 Credit RM Delivery van expenses Lighting and heating: Factory Office Manufacturing wages General expenses: Factory Office Sales representatives : Commission Purchase of raw materials Rent: Factory Office Machinery (Cost : RM40,000) Office equipment (RM9,000) Office salaries Accounts receivables Account payables Bank Sales Van (cost RM6,800) Inventory at 3+December 2020: Raw materials Finished goods Drawings Capital 7,220 1,490 72,100 8,100 1,940 11,688 57,210 6,100 2,700 28,600 8,200 17,740 34,200 9,400 16,142 194,800 6,200 13,260 41,300 24,200 155,950 360,150 360,150 ТОTAL
The required production of a product manufactured by Ditto Manufacturers for 2023 is 38 000 units. The opening inventory on 01 January 2023 was 6 000 units and a closing inventory of 4 000 units is desired on 31 December 2023. What are the expected sales of the product for 2023? A. 40 000 units B. 48 000 units C. 28 000 units D. 36 000 units
Beginning raw material inventory: 51000 grams Ending raw inventory: 40000 grams raw materials to be purchased during the year: 158,000 grams If each unit of finished goods requires 10 grams of raw materials, how many units of product are expected to be manufactured during the year?
Alpha places 900 units in production during the year. All 900 units are completed during the year. It had no beginning WIP inventory. Direct material costs added during the year were $81,000 and conversion costs were $9,000. 8) What is the Direct Material cost per equivalent unit for the year? 9) What is the Conversion Cost per equivalent unit for the year? 10) How much is Cost of Goods manufactured for the year? 11) Assume beginning FG inventory was 0 (zero) and that Alpha sold 10% of what it manufactured this year. How much is COGS?
N3. Account
Q14: What is Music, Inc.’s 2021 Net Income?
Collected these information from Bell Telecom Company (Egypt) producing 3 products"E" ,"F", and "G" for the year 2022:First: Sales:- Estimated sales "E" 11,000,000 EGP "F" 8,400,000 EGP "G" 7,380,000 EGP- Sales price/unit 440 EGP 420 EGP 410 EGPSecond: Production and Inventory (finished goods):- Total estimated sales units for product (E) will allocate for first quarter, second quarter,third quarter, and fourth quarter by equally.- For calculating of ending inventory of Finished Goods (F.G.) of product (E), 1/4 of salesunits of the next quarter are used except the fourth quarter 4/4 of sales units of the samequarter.- Ending inventory of Finished Goods (F.G.) for first quarter = 1250 units for product (E).- Beginning inventory of Finished Goods (F.G.) for first quarter = 2300 units for product (E).- Ending inventory of Finished Goods (F.G.) for product (F) and (G) 1/4 of sales units.- Inventory 31/12/2021 for product (F) and (G) are 1600 and 1100 units, respectivelyThird: Raw materials…
None
A company purchased merchandise to be resold at increasing costs during the year 2020. The purchases were made at the following costs January 1,2020 (Carried over from 2019) 20 unit at $10 January 25,2020 purchase 40 unit at $11 June 20, 2020 purchase 40 unit at $12 October 10, 2020 purchase 50 unit at $13 Assuming the LIFO perpetual cost flow assumption, what will be the company's cost of goods sold if 10 units were sold on the last day of each month during the year 2020? Select one:A. $1,460B. $1,386C. $1,416D. $1,410