Kingsley Manufacturing has $21,500 of ending finished goods inventory as of December 31, 2024. If beginning finished goods inventory was $18,200 and cost of goods sold was$84,000, how much would Kingsley report for cost of goods manufactured?

Kingsley Manufacturing has $21,500 of ending finished goods inventory as of December 31, 2024. If beginning finished goods inventory was $18,200 and cost of goods sold was$84,000, how much would Kingsley report for cost of goods manufactured?

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter2: Basic Cost Management Concepts

Section: Chapter Questions

Problem 3CE: Pietro expects to produce 50,000 units and sell 49,300 units. Beginning inventory of finished goods...

See similar textbooks

Related questions

Q: Please show me the correct approach to solving this financial accounting question with proper…

A: Concept of Economic Order Quantity (EOQ):Economic Order Quantity (EOQ) is the optimal number of…

Q: Hello tutor please provide correct answer general accounting question with correct solution do fast

A: Step 1: Definition of Effective Interest RateThe effective interest rate (or effective annual rate)…

Q: I am looking for help with this general accounting question using proper accounting standards.

A: Under the acquisition method of accounting, the acquirer (Alpha Corporation) records the assets and…

Q: Diane Fabrics has a magnitude of operating leverage of 2 at a sales level of $320,000. If sales…

A: References:Brigham, E. F., & Houston, J. F. (2022). Fundamentals of Financial Management (16th…

Q: Nicholas Johnson is a single individual. He claims a standard deduction of $13,500. His salary for…

A: Explanation of Gross Income:Gross income refers to the total income earned by an individual before…

Q: Can you help me solve this general accounting problem using the correct accounting process?

A: Step 1: Define Method of ComparablesThe method of comparables is a valuation technique that uses the…

Q: I need assistance with this general accounting question using appropriate principles.

A: Step 1: Definition of Haircut in a Repo AgreementA haircut in a repurchase (repo) agreement refers…

Q: Rivera Corp. reported the following balances at the end of the year: Credit Sales: $320,000,…

A: Explanation of Allowance for Uncollectible Accounts:The Allowance for Uncollectible Accounts is a…

Q: Can you explain the process for solving this financial accounting question accurately?

A: Step 1: Define Investment in Total AssetsInvestment in Total Assets refers to the amount of money a…

Q: What is the ending total balance?

A: Explanation of Net Sales: Net sales represents the total revenue a company generates from its…

Q: Frank Corp. has sales of $740,000 and costs of $328,000. Interest expense is $30,000 and…

A: Step 1: Definitions Concept of Net Income:Net income is the final profit a company earns after all…

Q: I'm waiting for answer

A: Given Information:Earnings Before Interest and Taxes (EBIT) = $19.45 millionTaxes Paid = $4.10…

Q: provide answer

A: Step 1: Definition of Cash Collected from Customers (Long Version):Cash collected from customers…

Q: Wrong answer will get unhelpful rate

A: Problem 1: Maintenance Cost CalculationAnswer:The budgeted maintenance cost for the month is…

Q: What is the total amount of current liabilities?

A: Explanation of Current Liabilities:Current liabilities are short-term financial obligations that a…

Q: Subject: Financial Accounting

A: Coefficient of Variation (CV) = Expected Return(μ)/Standard Deviation(σ) Given:Expected Return (μ) =…

Q: Calculate the cost of goods sold for the year

A: Explanation of Net Sales:Net sales refer to the total revenue a company earns from selling its…

Q: Don't use ai tool . A company has total liabilities of $400,000 and equity of $600,000. What is the…

A: The debt-to-equity ratio is calculated as:Debt-to-Equity Ratio = Total Liabilities ÷…

Q: Right Answer

A: Definition of Work in Process (WIP) Inventory:Work in Process Inventory represents the cost of jobs…

Q: Edison Tools Co. purchased equipment on January 1, 2018 for $61,800. Additional costs included…

A: Provided Data:Purchase Price of Equipment = $61,800Freight Charges = $1,900Installation and…

Q: Accurate Answer

A: Given information:Sales = $140,000Costs = $62,000Depreciation = $15,000Tax Rate = 30% Approach 1:…

Q: During 2022, Valiant Textiles had sales on account of $910,000, cash sales of $525,000, and…

A: Step 1: Introduction to accounts receivablesAccounts receivable refers to the customers who have…

Q: What is the amount of net sales?

A: Definition of Sales Revenue:Sales revenue refers to the total income generated from selling goods or…

Q: I need help finding the accurate solution to this general accounting problem with valid methods.

A: Step 1: Definition of Rate of Gross ProfitThe rate of gross profit is a financial metric that…

Q: Short solution???...

A: Step 1: Definition of Cost of Goods Sold (COGS) AdjustmentThe cost of goods sold (COGS) is adjusted…

Q: Question 5: Acid-Test RatioA company has the following data: Cash: $50,000Accounts Receivable:…

A: a) Acid-Test Ratio Calculation:The formula for the acid-test ratio is:Acid-Test Ratio = (Cash +…

Q: I need help with this general accounting question using standard accounting techniques.

A: Explanation of Net Sales:Net sales represent the actual revenue a company earns from its customers…

Q: Windsor tools inc. gad the following data for the period just ended.

A: Provided Data:Cash Sales = $45,000Credit Sales = $312,000Sales Discounts = $18,000Sales Returns…

Q: Calculate variablecost and contribution margin ration ? Financial accounting

A: Step 1: Definition of Contribution Margin RatioThe contribution margin ratio represents the…

Q: I am looking for a reliable way to solve this financial accounting problem using accurate…

A: Definition of Total Asset Turnover Ratio:The Total Asset Turnover Ratio (TATO) is a financial metric…

Q: The Phoenix Technologies had 22,000 shares of common stock outstanding on January 1 and issued an…

A: Provided Data:Common shares outstanding on January 1 = 22,000Additional shares issued on September 1…

Q: On January 1, Flint Corporation had 62,900 shares of no-par common stock issued and outstanding. The…

A: STEP 1: Calculate Shares Outstanding on Each Dividend DateJune 15 DividendShares outstanding on June…

Q: Please provide the correct answer to this general accounting problem using valid calculations.

A: Step 1: Definition of Annual Interest ExpenseThe annual interest expense for a bond is calculated by…

Q: Hello tutor solve this question step by step .

A: Step 1: Calculate the predetermined overhead rateThe predetermined overhead rate is calculated by…

Q: Compute the total cost of the Graphico order.

A: Definition of Direct Labor Cost:Direct labor cost refers to the wages paid to workers who are…

Q: I need guidance with this general accounting problem using the right accounting principles.

A: Step 1: Definition of Standard Cost Standard cost is a predetermined cost assigned to the production…

Q: I am looking for a step-by-step explanation of this financial accounting problem with correct…

A: Step 1: Definition of Net IncomeNet income is the amount a company earns after all…

Q: I need help with this general accounting question using standard accounting techniques.

A: Step 1: Definition of Asset Turnover RatioThe asset turnover ratio measures how efficiently a…

Q: I want to this question answer for General accounting question not need ai solution

A: Given:Estimated Manufacturing Overhead = $1,250,000Estimated Direct Labor Cost = $600,000Estimated…

Q: What is the full cost per unit of making and selling the product

A: Concept of Fixed Costs:Fixed costs are expenses that do not change with the level of production or…

Q: Financial Accounting

A: Step 1: Definition of Total EquityTotal equity represents the ownership interest in a company,…

Q: Short solution...???

A: The first step in calculating the applied overhead is to determine the predetermined overhead rate.…

Q: I am looking for help with this general accounting question using proper accounting standards.

A: Step 1: Definition of Predetermined Overhead Rate and Overapplied OverheadThe predetermined overhead…

Q: Davis Manufacturing expects to produce 18,000 total units during the current period.

A: Concept of Overhead Cost:Overhead cost refers to all indirect costs associated with production that…

Q: Could you explain the steps for solving this financial accounting question accurately?

A: Step 1: Define High-Low MethodThe High-Low Method is a technique used in cost accounting to estimate…

Q: At Airlux Corp., the standard quantity of labor is 20hours per air conditioning unit. The standard…

A: Labor Rate Variance (LRV):Actual Rate = Total Labor Cost ÷ Actual Hours= $53,650 ÷ 1,850 = $29 per…

Q: I am searching for the correct answer to this general accounting problem with proper accounting…

A: Step 1: Definition of Gross ProfitGross profit is calculated as the difference between Sales Revenue…

Q: Calculate the number of units that Danico Industries must sell in order to realize an operating…

A: Explanation of Operating Income: Operating income is the profit a company earns from its core…

Q: Please provide the solution to this financial accounting question with accurate financial…

A: Provided Data:Net Income = $58,000Total Assets = $510,000Total Liabilities = $238,000Price-to-Book…

Q: Sierra Company's output for the current period was assigned a $420,000 standard direct materials…

A: Step 1: Definitions Concept of Standard Direct Materials Cost:Standard direct materials cost…

Question

100%

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Similar questions

Kepler Manufacturing has $18,000 of ending finished goods inventory as of December 31, 2023. If beginning finished goods inventory was $8,000 and the cost of goods sold (COGS) was $55,000, how much would Kepler report for cost of goods manufactured?
Brambie Corp. has 240000 of ending finished goods inventory as of December 31, 2019. If beginning finished goods inventory was 18000 and costs of goods sold was 53000, how much would Brambie report for cost of goods manufactured?
Depot manufacturing has $31,500 ofending finished goods inventory as of Dec. 31, 2021. If beginning finished goods inventory was $27,800 and COGS was $94,300, how much would Depot reportfor cost of goods manufactured?
Quick answer of this accounting question
How much is the cost of goods sold for the year on these financial accounting question?
How much is the cost of goods sold for the year ?
Thompson Manufacturing's January 1, 2024, finished goods inventory was $120,000. January 1, 2025, finished goods inventory is $95,000. The cost of goods manufactured for FY 2024 was $560,000. What is the dollar amount of the FY 2024 cost of goods sold?
During the year, Premier Manufacturing's cost of goods manufactured is $925,000. Beginning of the year finished goods inventory is $175,000 and end of the year finished goods inventory is $210,000. What is the cost of goods sold?
What is the cost of goods sold ?
In 2021, the BowWow Company purchased 17,970 units from its supplier at a cost of $10.00 per unit. BowWow sold 16,230 units of its product in 2021 at a price of $20.00 per unit. BowWow began 2021 with $995,910 in inventory (inventory is carried at a cost of $10.00 per unit). Using this information, compute BowWow's gross profit for 2021. Record your answer rounded to the nearest dollar. Do not include a dollar sign or commas in your answer. For example, record $1,234,567.89 as 1234568. Your Answer:
In 2021, the BowWow Company purchased 19,910 units from its supplier at a cost of $13.00 per unit. BowWow sold 10,060 units of its product in 2021 at a price of $21.00 per unit. BowWow began 2021 with $999,430 in inventory (inventory is carried at a cost of $13.00 per unit). Using this information, compute BowWow's gross profit for 2021. Record your answer rounded to the nearest dollar. Do not include a dollar sign or commas in your answer. For example, record $1,234,567.89 as 1234568.
What is the cost of goods manufactured for 2023 ??