Common-size and trend percents for Rustynail Company's sales, cost of goods sold, and expenses follow. Common-Size Percents 1 Yr Ago 100.0% Trend Percents 1 Yr Ago 103. 74 110.5 101.5 Current Yr 2 Yrs Ago Current Yr Sales Cost of goods sold Total expenses 100.0% 63.6 14.4 61.4 13.9 100.0% 57.6 14.2 104.9% 115.8 106.5 2 Yrs Ago 100.0% 100.0 100.0 Determine the net income for the following years. Did the net income increase, decrease, or remain unchanged in this three-year period? Complete this question by entering your answers in the tabs below. Change in Net Income Net Income Determine the net income for the following years. (Enter all amounts as positive values.) 1 Yr Ago 2 Yrs Ago Current Yr Sales %24 100,000 Cost of Goods Sold 57,600 Total Expenses 14,200 Net Income 28,200 Change in Net incom scome > Did the net income increase, decrease, or remain unchanged in this three-year period? Did the net income increase, decrease, or remain unchanged in this three-year period? Net income decreased (Net income Cha

Common-size and trend percents for Rustynail Company's sales, cost of goods sold, and expenses follow. Common-Size Percents 1 Yr Ago 100.0% Trend Percents 1 Yr Ago 103. 74 110.5 101.5 Current Yr 2 Yrs Ago Current Yr Sales Cost of goods sold Total expenses 100.0% 63.6 14.4 61.4 13.9 100.0% 57.6 14.2 104.9% 115.8 106.5 2 Yrs Ago 100.0% 100.0 100.0 Determine the net income for the following years. Did the net income increase, decrease, or remain unchanged in this three-year period? Complete this question by entering your answers in the tabs below. Change in Net Income Net Income Determine the net income for the following years. (Enter all amounts as positive values.) 1 Yr Ago 2 Yrs Ago Current Yr Sales %24 100,000 Cost of Goods Sold 57,600 Total Expenses 14,200 Net Income 28,200 Change in Net incom scome > Did the net income increase, decrease, or remain unchanged in this three-year period? Did the net income increase, decrease, or remain unchanged in this three-year period? Net income decreased (Net income Cha

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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What is the Weighted average cost per unit?
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(1)Garcon Company | Pepper Company (2) Finished goods inventory, beginning $ 13,200 / $ 16, 750 Work in process inventory, beginning 18,000/ 22,650 Raw materials inventory, beginning 9, 800/12, 750 Rental cost on factory equipment 30, 250/26, 350 Direct labor 19, 400 / 39,400 Finished goods inventory, ending 17,300 / 16, 400 Work in process inventory, ending 26, 200/20, 400 Raw materials inventory, ending 8, 000/ 9,200 Factory utilities 14, 100/13, 750 General and administrative expenses 27, 500/53, 500 Indirect labor 12, 150 / 12, 260 Repairs-Factory equipment 4, 820/2, 350 Raw materials purchases 47,000/67,500 Selling expenses 62, 400 / 54,400 Sales 295, 320/394, 170 Cash 29, 000/24, 200 Accounts receivable, net 15,800 / 23,450
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Assuming that all net Sales figures are at and all Cost goods Sold Calculate the retarl Figures are at Cost a-urage inventory (in $) and turnover for the following. If the actual invertory turnover is less than rate Calculate the publishing the target average inventory necessary Come up with a greater than the Published Standards. If the turnover to Actual rate "above" for target average inventorys (Round inventories to nearest dollar and inventory enter turnovers to Dearest tenth) Net Sales 580,000 aug Cost of Goods Sold Barning Ending Aug Inventory Published Inventog как Inventory 135, 250 75,200 4.8 Inertoy ↑
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Ch 9 Problem Set B Problem 9-1 Part B The company uses the perpetual inventory method. It began the month of March with 100 units of inventory, at a unit cost of $55. Purchases during March March 5, 60 units at $60 each. March 18, 200 units at $65 each March 29, 40 units at $75 each. Sales during March March 12, 60 units. March 25, 210 units. All units were sold to customer for $100 each. 1. Use the following format to set up this inventory costing problem, as shown in Video #2. Inventory Date Units Cost per Total Cost Date Units Total Cost Unit Beg Balance Units Cost Beginning Balance + Purchases Goods Available for Sale - Sold Ending Balance
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Calculate necessary data where you have a ? in the table