a. Assume that only one product is being sold in each of the four following case situations: b. Assume that more than one product is being sold in each of the four following case situations: Complete this question by entering your answers in the tabs below. Required A Required B Assume that more than one product is being sold in each of the four following case situations: (Loss amounts should be indicated b minus sign.) Case #1 Case #2 Case #3 Case #4 Sales $ 442,000 198,000 2$ 306,000 Variable expenses 128,700 82,620 Fixed expenses 57.000 470,000 Net operating income (loss) 2$ 42,120 2$ 87,740 $. 5,380 Contribution margin ratio (percent) 36 % 79 % < Required A

a. Assume that only one product is being sold in each of the four following case situations: b. Assume that more than one product is being sold in each of the four following case situations: Complete this question by entering your answers in the tabs below. Required A Required B Assume that more than one product is being sold in each of the four following case situations: (Loss amounts should be indicated b minus sign.) Case #1 Case #2 Case #3 Case #4 Sales $ 442,000 198,000 2$ 306,000 Variable expenses 128,700 82,620 Fixed expenses 57.000 470,000 Net operating income (loss) 2$ 42,120 2$ 87,740 $. 5,380 Contribution margin ratio (percent) 36 % 79 % < Required A

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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Question 5 The General Ledger entry when Goods Issued is posted is DB: Cost of Goods Sold: CR: Inventory DB:Cost of Good Sold; CR Sales Revenue DB: Inventory, CR: Cost of Goods Sold DB: Sales Revenue, CR:Inventory Question 6 (1 If the wrong item is entered into a sales order, when will the mistake be caught? none of the answers when the warehouse ships the order when accounts receivable sends the invoice when the order is received by customer
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Statement 1: The “shipments to branch” account is added to the home office’s purchases account in determining home office’s cost of goods sold. Statement 2: The “shipments from branch” account is added to the branch’s purchases account in determining branch’s cost of goods sold.* A. S1-True; S2-True B. S1-True S2-False C. S1-False 52-True D. S1-False: 52-False
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Question 19
8) ____________________ method can be applied in situations where different purchases can be physically separated. a. Weighted Average b. Specific Identification c. First In First Out (FIFO) d. All Clear my choice
Please present your solution in good accounting form. Thank you! 1.) What is the inventory value of the units unsold in the hands ofthe consignee?A. 150,000 C. 154,500B. 153,000 D. 157,500 2.) What is the profit of the consignor for the units sold?A. 24,000 C. 27,000B. 26,000 D. 70,000