Kennedy Inc has $23,800 of ending finished goods inventory as of Dec. 31, 2013. If beginning finished goods inventory was $16,300 and COGS was $72,000, how much would Kennedy report for cost of goods manufactured.
Q: Hello tutor please given answer
A: We have given, Net Income = $500,000Stockholders' Equity = $1,600,000 Starlight Company's return on…
Q: I want to correct answer general accounting question
A: Calculate the Equity Multiplier:The equity multiplier is the ratio of total assets to equity…
Q: General Accounting Question
A: Step 1: Define Applied Manufacturing OverheadApplied manufacturing overhead refers to the estimated…
Q: Using miles as the activity level
A: Concept of Mixed CostsMixed costs are expenses that contain both a fixed component and a variable…
Q: General Accounting question
A: Detailed explanation:Given:Expenditures on infrastructure and services $ 15 billionTax revenue $ 12…
Q: Ans? ? Financial accounting
A: Step 1: Define Cost of Goods Sold (COGS)Cost of Goods Sold (COGS) represents the total cost of…
Q: Don't use ai.solution general Accounting question
A: The consolidated net income for 2024 is $342,000. Calculations:Step 1: Given InformationUpstream…
Q: How much overhead was applied?
A: Concept of Predetermined Overhead RateThe predetermined overhead rate is an estimated percentage or…
Q: Can you please solve this financial accounting question?
A: The net income for the period is calculated as follows: Formula table: Result of the above formula…
Q: Accurate answer
A: Step 1: Formula Degree of operating leverage = Contribution margin/Operating income Step 2:…
Q: Provide correct solution and accounting
A: Let's break this down in a way that makes it intuitive by following a step-by-step…
Q: Accounting question
A: To calculate the dividend yield, we use the formula: Dividend Yield =Required Return − Growth Rate…
Q: What are the annual after tax cash receipt? Accounting question
A: Step 1: Calculate Annual Cash Flow Before TaxAnnual cash receipts: $563,000Annual cash expenses:…
Q: ans
A: Calculate Capital Gains YieldCapital Gains Yield = ($43.89 - $42.67 / $42.67) * 100 Capital Gains…
Q: Refer to the investment opportunity for 2025 (purchase of new machinery) and calculate the…
A: From the provided financial data, we have:Initial Investment: R2,200,000 (Machinery) + R200,000…
Q: At an output level of 19,500 units, you have calculated that the degree of operating leverage is…
A: Concept of Degree of Operating Leverage (DOL)The Degree of Operating Leverage (DOL) measures how a…
Q: Improvement that have been made to the asset?
A: Explanation of Adjusted Basis:The adjusted basis of an asset represents its original cost, adjusted…
Q: Financial Accounting
A: Step 1:Cash Collections from customers during 2022 can be calculated by rearranging the formula of…
Q: Find out
A: Explanation of the Answer:The Economic Entity Assumption states that a business must be treated as a…
Q: Financial accounting
A: To determine Tesla's cost of equity capital, we apply the Capital Asset Pricing Model (CAPM), which…
Q: What was stockholders equity
A: Step 1: Define Total EquityIn accounting, total equity refers to the total assets net of…
Q: Need help with this general accounting question
A: Step 1: Definition of Equivalent Units for Conversion CostsEquivalent Units for Conversion Costs…
Q: The operating cash flow using the top down approach?
A: Operating Cash Flow (OCF) is a measure of the cash generated by a company's normal business…
Q: Financial accounting
A: Step 1: Define Gross Profit PercentageThe Gross Profit Percentage (Gross Profit Margin) measures the…
Q: Contribution margin
A: Explanation of Contribution Margin:Contribution margin represents the portion of sales revenue that…
Q: Please provide answer
A: Step-by-Step Solution to Determine the Note Payable Liability on December 31, 2022 We will solve…
Q: ?!
A: Given:Current share outstanding = 44,200Market share price = $14.70Debt % = 53% Formula:New share…
Q: Need answer
A: Explanation of Net Income:Net income is the total profit a company generates after deducting all…
Q: Hy expert give me correct solution
A: Step 1: Definition of Bad Debt ExpenseBad debt expense represents the estimated amount of…
Q: don't use ai solution given answer financial accounting
A: Dividend Yield is calculated as:Dividend Yield = (Annual Dividend per Share / Current Stock Price) x…
Q: General accounting question
A: Step 1: Definition of Underfunded Pension ObligationUnderfunding occurs when the projected benefit…
Q: Need answer the general accounting question not use ai
A: Step 1: Define Return on Equity (ROE)Return on Equity (ROE) is a financial ratio that measures a…
Q: On January 1, 2018, Ashton Corp. sold equipment to Bennett Ltd. (a wholly owned subsidiary) for…
A: Explanation of Intercompany Transactions: These transactions occur between two entities within the…
Q: Provide financial accounting question
A: The cost of common stock using the Capital Asset Pricing Model (CAPM) equation is calculated as: re=…
Q: ?!
A: Concept of Standard Direct Labor HoursStandard direct labor hours refer to the pre-determined amount…
Q: hi expert please help me
A: ROI = Profit Margin x Investment TurnoverGiven:Profit Margin = 9% = 0.09Investment Turnover =…
Q: What is the effective cost of trade credit under the credit terms of 2/15, net 40? Assume 365 days…
A: Concept of Trade CreditTrade credit is a financing arrangement in which a supplier allows a buyer to…
Q: Company K had total sales of $2,800,000 during the year. The cost of goods sold and depreciation…
A: Explanation of Total Sales (Revenue):Total sales, also known as revenue, represent the total amount…
Q: Please provide correct answer
A: Explanation of Purchase Price: Purchase price represents the original amount Sophia paid to acquire…
Q: Please given answer general Accounting
A: Step 1: Define Contribution Margin and Operating Income ChangeThe contribution margin (CM)…
Q: Sophia, a single taxpayer, bought her home in Santa Clara 30 years ago for $75,000. She has lived…
A: Realized Gain = Sale Price - Purchase Price= $460,000 - $75,000Realized Gain = $385,000 Since Sophia…
Q: A broadcasting company failed to make a year-end accrual of $350,000 for fines due to a violation of…
A: Impact on Expenses: The failure to accrue the $350,000 fine means expenses were understated by…
Q: None
A: Step 1: Definition of Inventoriable CostsInventoriable costs are all costs incurred in manufacturing…
Q: Help
A: To determine the standard time for the job, we use the formula::Given Data:
Q: What is the cost of goods manufactured?
A: Detailed explanation:Cost of Goods Manufactured: Work in Process Inventory, beginning balance $…
Q: What is the amount of equity and net assets of this financial accounting question?
A: Step 1: Define EquityEquity represents the ownership interest in a company, calculated as the…
Q: None
A: Concept of Sales RevenueSales Revenue represents the total amount generated from selling goods or…
Q: What is the correct option? ? General Accounting
A: Detailed explanation:Given:Base labor rate, $ 24 per hourEmployee benefits, $ 7.50 per hourSocial…
Q: What is the maturity value of the note
A: The question requires the determination of the maturity value of the note.The value of maturity of a…
Q: What is the annual depreciation charge of this financial accounting question?
A: Step 1: Define Straight-Line DepreciationStraight-line depreciation is a method that evenly spreads…
Kennedy Inc has $23,800 of ending finished goods inventory as of Dec. 31, 2013. If beginning finished goods inventory was $16,300 and COGS was $72,000, how much would Kennedy report for cost of goods manufactured.
Step by step
Solved in 2 steps
- Masonrys records show the raw materials inventory had purchases of $1,000and an ending raw materials inventory balance of $200. If the cost of materials used during the month was $900, what was the beginning inventory?Kennedy Inc has $23,800 of ending finished goods inventory as of Dec. 31, 2013. If beginning finished goods inventory was $16,300 and COGS was $72,000, how much would Kennedy report for cost of goods manufactured.Answer this question.Kennedy Inc has $23,800 of ending finished goods inventory as of Dec. 31, 2013. If beginning finished goods inventory was $16,300 and COGS was $72,000, how much would Kennedy report for cost of goods manufactured.
- Bravo Company's January 1, 2016 finished goods inventory was $100,000. The January 1, 2017 finished goods inventory is $80,000. Cost of goods manufactured for the FY 2016 was $260,000. Use this information to determine the dollar amount of the FY 2016 cost of goods sold.During July 2014, Leesburg, Inc., sold 250 units of its product Empire for $4,000. The following units were available (see image). A sale of 250 units was made after purchase 3. Of the units sold, 100 came from begin-ning inventory and 150 came from purchase 3.Determine cost of goods available for sale and ending inventory in units. Then determine the costs that should be assigned to cost of goods sold and ending inventory under each of the following assumptions: (For each alternative, show the gross margin. Round unit costs to the nearest cent and totals to dollars.) 1.Costs are assigned under the periodic inventory system using (a) the specific iden-tification method, (b) the average-cost method, (c) the FIFO method, and (d) the LIFO method. 2.Costs are assigned under the perpetual inventory system using (a) the average-cost method, (b) the FIFO method, and (c) the LIFO method.On December 31 of last year, Wolfson Corporation had 660 units in inventory of its product, which cost $17 per unit to produce. During January, the company produced 970 units at a cost of $20 per unit. Assuming Wolfson Corporation sold 1, 160 units in January, what was the cost of goods sold (assume FIFO inventory method)? Cost of goods sold
- The Holden Corp. company has the following purchases and sales during the year ended December 31, 2014. Inventory and Purchases Beginning: 130 units@ $51/unit March 28: 150 units @ $54/unit June 28: 150 units @ $50/unit The units have a selling price of $65.00 per unit. a) Please fill in the table by calculating the dollar value of cost of goods sold and ending inventory, as well as the gross profit earned by Holden Corp. using the FIFO system. Cost of Goods Sold Ending Inventory Gross Profit Date b) Prepare journal entries to record the following (assuming all sales and purchases are for cash): (a) The purchase on June 28, (b) The sale on July 17. Enter the transaction letter as the description when preparing a journal entry. When a transaction requires two separate journal entries, use the same letter for both descriptions. Dates must be entered in the format dd/mmm (ie. 15/Jan). 14 F Sales February 9:30 units July 17: 200 units FIFO E General Journal Account/Explanation Page GJB F…Monroe Manufacturing, Inc. reported the following information related to inventory, which sells for $20 per unit: Beginning inventory: 3,000 units at $3 unit cost Purchase 1: 4,000 units at $4 unit cost Purchase 2: 5,000 units at $5 unit cost At the end of the period, the company has 4,000 units in ending inventory. Compute the cost of goods sold and ending inventory using the following methods: Weighted Average, FIFO, and LIFO methods.At the end of January, Higgins Data Systems had an inventory of 750 units, which cost $13 per unit to produce. During February the company produced 1,600 units at a cost of $16 per unit. If Higgins sold 2,000 units in February, what was its cost of goods sold? a. Assume average cost inventory accounting. (Do not round intermediate calculations. Round your answer to nearest whole dollar.) Cost of goods sold $30800 b. Assume FIFO inventory accounting. Cost of goods sold $1