6-30 Equivalent Units; Weighted-Average Method Northern Washington Lumber Company grows, harvests, and processes timber for use as building lumber. The following data pertain to the company's sawmill: Work-in-Process Inventory, January 1 (direct materials: 60%, conversion: 40%) 30,000 units Work-in-Process Inventory, December 31 (direct materials: 70%, conversion: 60%) 15,000 units During the year the company started 180,000 units in production. Required Prepare a physical flow schedule and compute the number of equivalent units of both direct materials and conversion for the year, using the weighted-average method.

Q: Briefly explain the difference between gross profit, net profit and EBIT.

A: Gross Profit is computed by deducting Cost of goods sold from Sales. Gross profit is the profit a…

Q: I thought for an Income Statement you only need serivce revenue, subract expenses and then you get a…

A: Income statement - It is a type of financial statement which displays the Revenue and Expenses…

Q: Which of the following is an input method for recognizing revenue over time?

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Q: Thanks, need help with the other ratios as well.

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A: Income statement is the statement in which figures relating to entity performance is incorporated…

Q: name for the amount

A:

Q: What is pass-through income

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Q: What is the formula to find net revenue in this spreadsheet?

A: Definition: Revenues: Revenues are earnings from the operations of a business. The operating…

Q: How did they get the income summary?

A: Lets understand the basics. Income summary is summary which reflects the all the revenue and expense…

Q: Which of the following best describes revenue?

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Q: How to determine the timing and measurement of revenue.

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Q: What are some possible financial decisions in which using the Rate formula might be helpful

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Q: How did you come up the number for Income before income tax, why did you subtract the quipment cost.

A: Income before tax=Tax expenseTax rate-Depreciation expense

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Q: Define Income before taxes.

A:

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A: A financial ratio is a quantitative measure used to analyze and assess various aspects of a…

Q: Common sized statement  need help on part a finding the %

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