FizzUp Drinks started 8,200 barrels of production in October, with no beginning work-in-process inventory. At the end of the month, there were 1,100 barrels still in process. How many barrels were completed in October? a) 7,200 b) 7,100 c) 6,900 d) 8,000
Q: I need help solving this General accounting question with the proper methodology.
A: Step 1: Define Gross Profit MarginGross Profit Margin is a key profitability ratio that measures how…
Q: Return on assets? Accounting question
A: Step 1: Definition of Return on Assets (ROA)Return on Assets (ROA) is a financial metric that…
Q: Mcq question help.
A: Current liabilities are debts or financial obligations that must be settled within a short period,…
Q: Quick answer of this general accounting question
A: Step 1: Definition of Return on Equity (ROE)Return on Equity (ROE) is a financial ratio that…
Q: sub. general accounting
A: Step 1: Definition of Gross ProfitGross profit is the difference between net sales and the cost of…
Q: Provide answer
A: Provided Data:Purchases = $840,000Purchase Returns = $28,000Beginning Inventory = $112,000Cost of…
Q: A town council is considering converting an abandoned mall into a community arts center. They…
A: Given:Benefit: $2,400,000Cost: $3,400,000 Let's use the benefit-cost ratio (BCR) o analyze the…
Q: Tutor please help no ai
A: Step 1: Calculate Gross ProfitGross Profit = Sales Revenue - Cost of Goods Sold= 5,600,000 -…
Q: On January 1, 20X1, ZipCo, which uses UOP depreciation, purchased a truck for $24,000 with an…
A: Step 1: Definition of Depreciation (Units of Production Method)Depreciation is the process of…
Q: I need guidance with this financial accounting problem using the right financial principles.
A: We are given the extended accounting equation:Assets = Liabilities + (Revenue - (Expenses +…
Q: Einstein Distributors has a cost of goods sold of $312,000 and an average inventory of $104,000.…
A: Step 1: DefinitionsConcept of Cost of Goods Sold:Cost of Goods Sold (COGS) is the total direct cost…
Q: Please provide the accurate answer to this General accounting problem using valid techniques.
A: Step 1: Define Predetermined Overhead Rate (POHR)Predetermined Overhead Rate (POHR) is a rate used…
Q: I need help with this problem and accounting question
A: Step 1: Definition of Gross ProfitGross Profit is the difference between a company's net sales and…
Q: Blaster, Inc., manufactures portable radios. Each radio requires 3 units of Part XBEZ52, which has a…
A: We have given, Standard Cost per Unit = $1.45Actual Quantity Purchased = 12,000 unitsActual Total…
Q: Provide correct answer this financial accounting question
A: Step 1: Define Price-Earnings Ratio The Price-Earnings (P/E) ratio is a valuation metric that…
Q: General accounting
A: Step 1: Definition of Cost-to-Retail RatioThe cost-to-retail ratio is used in the retail inventory…
Q: Please provide the correct answer to this financial accounting problem using valid calculations.
A: Step 1: Definition of Debt-to-Equity RatioThe debt-to-equity ratio is a key financial metric that…
Q: I need the correct answer to this financial accounting problem using the standard accounting…
A: Step 1: Definition of Interest ExpenseInterest expense is the cost incurred by an entity for…
Q: Please solve the items for December 31st entry at the bottom for Loss on Disposal of Plant Assets…
A: Step 1: Compute Annual Depreciation for the TruckCost = $26,400Salvage Value = $3,000Useful Life = 8…
Q: What is the contribution margin ratio for nelson enterprises?
A: Step 1: Definition of Contribution Margin RatioThe Contribution Margin Ratio is the percentage of…
Q: Can you explain the correct approach to solve this general accounting question?
A: Step 1: Define Net Sales Net sales represent the total revenue earned from sales after deducting…
Q: How much will the customer pay if the take advantage of the cash discount?
A: Given Information:Order Amount: $22,450.75FOB Destination: The sale is recorded when the goods…
Q: Accounting answer please
A: Step 1: Definition of Straight-Line DepreciationStraight-line depreciation is a method used to…
Q: What is the company's debt to equity ratio? Accounting
A: Step 1: Definition of Debt-to-Equity RatioThe debt-to-equity ratio is a financial leverage ratio…
Q: I need help with this solution and accounting question
A: Step 1: Definition of Cash ProceedsCash Proceeds refers to the actual amount of cash the seller…
Q: Please explain the solution to this General accounting problem with accurate principles.
A: Step 1: Define MarkupMarkup is the amount added to the cost price of a product to determine its…
Q: Please give me true answer this financial accounting question
A: Step 1: Define Stockholders' EquityStockholders' equity, also known as shareholders' equity or…
Q: none
A: The Cash Conversion Cycle (CCC) is calculated using the formula:CCC = Inventory Conversion Period +…
Q: Calculate Henderson's net sales for this period
A: Step 1: Definition of Net SalesNet sales refer to a company's total revenue from sales after…
Q: Solve question
A: Step 1: Definition of Total EquityTotal equity represents the residual interest in the company's…
Q: I need help finding the correct solution to this financial accounting problem with valid methods.
A: Step 1: Definition of Degree of Operating Leverage (DOL)The Degree of Operating Leverage (DOL)…
Q: Below is information for Blue Company. Using this information, answer the following questions on…
A: The contribution margin per unit is calculated by dividing the total contribution margin by the…
Q: What is the total cost per unit for job XY2?
A: Step 1: Definition of Total Cost per UnitTotal cost per unit refers to the cost incurred to produce…
Q: Best solution..
A: Answer to the First Question:The correct answer is:a) Systematic relationships create comprehensive…
Q: You answered my 3 questions but i will not give unhelpful but if you will give anymore deslikes in…
A: Yo may also consider this explanation: General accounting is the backbone of financial management,…
Q: The beginning inventories are as follows: direct materials, 3,200 pounds; finished goods,4,000…
A: Concept of Planned Production:Planned production refers to the number of units a company intends to…
Q: Can you help me solve this General accounting problem using the correct accounting process?
A: Step 1: Definitions Of Product Costs, Period Costs, Conversion Costs, Prime CostsProduct Costs:…
Q: An additional 95,000 units were transferred in from the prior department during the month to begin…
A: Concept of Work in Process Inventory:Work in Process (WIP) Inventory refers to partially completed…
Q: Can you solve this general accounting problem with appropriate steps and explanations?
A: To calculate the total merchandise purchases for the month, we use the cost of goods sold (COGS)…
Q: sub general accounting
A: We can determine the likely stock price this year using the price-to-earnings (P/E) ratio, which…
Q: A company uses a process costing system. Its finishing department's beginning inventory consisted of…
A: Concept of Beginning Inventory:Beginning inventory refers to the number of units that were partially…
Q: what is the length of the firm cash conversion cycle ? accounting
A: Step 1: Definition of Cash Conversion Cycle (CCC)The Cash Conversion Cycle (CCC) is a measure of the…
Q: Marin, Inc. had the following bank reconciliation at March 31, 2025: Balance per bank statement,…
A: To determine the cash balance per books at April 30, 2025, we use the following formula:Balance per…
Q: What is the belence sheet?? Accounting
A: Step 1: Definition of Intercompany Transaction and Equipment Sale Impact An intercompany sale occurs…
Q: Emerge Tech reports that at an activity level of 6,200 machine-hours in a month, its total variable…
A: Provided Data:Activity level = 6,200 machine-hoursTotal variable inspection cost at 6,200 hours =…
Q: Calculate the gross profit and cost of goods sold COGS for LTX lnc. for fiscal 2021
A: Step 1: Definition of Gross ProfitGross Profit is the difference between net sales and the cost of…
Q: Moti Bakery produces various baked goods. Utility costs are allocated to the products based on the…
A: Concept of Utility Costs:Utility costs refer to the expenses incurred from using utilities such as…
Q: The fixed costs of this operation are $120,000, while the variable costs of apples are $0.15 per…
A: Concept of Fixed Costs:Fixed costs are business expenses that remain constant regardless of the…
Q: Contribution margin????
A: Step 1: Definition of Contribution Margin The contribution margin refers to the difference between a…
Q: What is the average cost per snowmobile, including overhead?
A: Step 1: Definition of Average Cost per UnitThe average cost per unit, including overhead, represents…
How many barrels were completed in October? accounting question
Step by step
Solved in 2 steps
- Serile Pharma places 800 units in production during the month of January. All 800 units are completed during the month. It had no opening inventory. Direct material costs added during January was $74,000 and conversion costs added during January was $8400. What is the total cost per unit of the product produced during January?Serile Pharma places 840 units in production during the month of January. All 840 units are completed during the month. It had no opening inventory. Direct material costs added during January was $106,000 and conversion costs added during January was $11,600. What is the total cost per unit of the product produced during January? A) $140 B) $10 C) $80 D) $126XYZ Co. has forecasted July sales of 1,100 units. The company maintains ending inventory equal to 55% of the current month's sales. July's beginning inventory was 900 units. What is June's required production? 200 Units 805 Units 1,105 Units 750 Units
- For the month of July, a company estimated that unit sales and required production are 25,250 units and 25,105 units, respectively. The company always maintains ending finished goods inventory equal to 10% of the next month's unit sales. What is the estimated unit sales for August? Multiple Choice 24,295 units 21,800 units 23,800 units 22,295 unitsJKL & Company had 3,000 units in finished-goods inventory on December 31. The following data are available for the upcoming year: January February Units to be produced 9,400 10,200 Desired ending finished-goods inventory 2,500 2,100 The number of units the company expects to sell in January is:Ajax Manufacturing produces a single product, which takes 8.0 pounds of direct material per unit produced. The company's policy is to maintain an end-of-quarter inventory of materials equal to 25 percent of the following quarter's material requirements for production. At the end of the 4th quarter, there were 72,000 pounds of material on hand. Assume it is currently the end of the first quarter of the new year. a. How many units of product were produced this quarter? b. Under the assumption that production will increase by 10% in the second quarter, what are the direct material requirements (in pounds) for planned production in the second quarter?
- Li Company manufactures a product requiring 2 pounds of raw material for each finished unit. Raw materials inventory had a balance of on March 1 was 7,000 pounds. The company wants to maintain an ending inventory equal to 40% of the next month’s production needs. Production for March and April is projected to be 4,000 and 5,000 units, respectively. How many pounds of raw material must be purchased in March?Compute the number of units to be produced?Hank Manufacturing maked cleaning solvent sold in large container with a plastic liner. Their monthly sales forecast consists of January: 40,000 units, February: 38,500 units, and March 39,750 units. Desired ending inventory of finished goods (in units) is 10% of the next month's sales forecast. Planned production (in units) for next quarter is: January: 43,800 units February: 41,000 units March: 50, 250 units Further, each container of cleaning solvent consists of: 6 gallons of chemicals 1 plastic liner Company policy requires that ending inventories of raw materials for each month be 15% of the next month's production needs. The policy was met for the ending inventory of December in the prior year. The cost of one gallon of chemicals is $2. The cost of one line is $1.60 December, ending inventory: 39,420 January, ending inventory: 36,900 February, ending inventory: 45, 225 Ending inventory of plastic coating(in units) December, ending inventory: 6570 January, ending inventory: 6150…
- Mosco Industries manufactures a single product and follows a JIT policy where ending inventory must equal 25% of the next month's sales. It estimates that August's ending inventory will consist of 48,000 units. September and October sales are estimated to be 280,000 and 290,000 units, respectively. Mosco assigns variable overhead at a rate of $3.60 per unit of production. Fixed overhead equals $430,000 per month. Compute the number of units to be produced and the total budgeted overhead that would appear on the factory overhead budget for the month of September.The Posh Cushion Company manufactures foam cushions. The number of cushions to be produced in the upcoming three months follows: Number of foam cushions to be produced in July Number of foam cushions to be produced in August Number of foam cushions to be produced in September 13,000 15,000 7,000 Each cushion requires 2 pounds of the foam used as stuffing. The company has a policy that the ending inventory of foam each month must be equal to 15% of the following month's expected production needs. How many pounds of foam does The Posh Cushion Company need to purchase in August? OA. 32,100 B. 34,500 OC. 25,500 OD. 27,600Click the Chart sheet tab. On the screen is a column chart showing ending inventory costs. During a deflationary period, which bar (A, B, or C) represents FIFO costing, which represents LIFO costing, and which represents weighted average? Explain your reasoning. On January 4 following year-end, Rio Enterprises received a shipment of 60 units of product costing 580 each. These units had been ordered by Del in December and had been shipped to him on December 27. They were shipped FOB shipping point. Revise the FIFOLIFO3 worksheet to include this shipment. Preview the printout to make sure that the worksheet will print neatly on one page, and then print the worksheet. Save the completed file as FIFOLIFOT. Using the FIFOLIFO3 file, prepare a 3-D bar (stacked) chart showing the cost of goods sold and ending inventory under each of the four inventory cost flow assumptions. No Chart Data Table is needed. Use the values in the Calculations Section of the worksheet for your chart. Enter your name somewhere on the chart. Save the file again as FIFOLIFO3. Print the chart.
