Problem 14-5A (Static) Raw materials inventory turnover LO A1A manufacturing company reports the following information.Current Year$ 169,5002,160,000Raw materials inventory, endingRaw materials used.Required:1. Compute raw materials inventory turnover for the most recent two years.2. Is the current year change in raw materials inventory turnover ratio favorable or unfavorable?3. Compute days' sales in raw materials inventory for the current year.Complete this question by entering your answers in the tabs below.Required 1 Required 2 Required 31 Year Ago$ 190,5002,522,000Compute raw materials inventory turnover for the most recent two years.Raw materials inventory turnoverCurrent yearRequired 12 Years Ago$ 197,5002,765,0001 Year AgoRequired 2 >

Inventory turnover ratio measures how efficiently the firm uses its inventory. It is calculated by…

Answered: Problem 14-5A (Static) Raw materials…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Instructions Labels and Amount Descriptions Starting Question Instructions Several items are omitted from the income statement and cost of goods manufactured statement data for two different companies for the month of May. Rainier Company Yakima Company 2 Materials inventory, May 1 $281,120.00 $176,500.00 3 Materials inventory, May 31 (a) 177,500.00 4 Materials purchased 713,200.00 340,300.00 5 Cost of direct materials used in production 751,600.00 (a) 6 Direct labor 1,058,600.00 (b) 7 Factory overhead 328,000.00 179,200.00 8 Total manufacturing costs incurred during May (b) 1,034,000.00 9 Total manufacturing costs 2,678,800.00 1,477,500.00 10 Work in process inventory, May 1 540,600.00 443,500.00 11 Work in process inventory, May 31 451,000.00 (c) 12 Cost of goods manufactured (c) 1,028,000.00 13 Finished goods inventory, May 1 476,000.00 200,500.00 14 Finished goods inventory, May 31 495,600.00 (d) 15 Sales 4143 000.00. 1670.000.00. Previous neck My Work 5 more Check My Work uses…
QUESTION 6 A firm has an average age of inventory of 101 days an average collection period of 49 days, and an average payment period of 60 days. Assuming a 365-day year, the firm’s inventory turnover is ... 2.5. 3.2. 3.6. 4.0.
Exercise 5 - 10 Schedules of Cost of Goods Manufactured and Cost of Goods Sold [L06]The following data from the just - completed year are taken from the accounting records of Eccles Company:Sales S 713, OOODirect labour cost 100, 000Raw material purchases 142, 000Selling expenses 110, 000Administrative expenses 53, 000Manufacturing overhead applied to work in process 220, 000Actual manufacturing overhead costs 240, 000 Inventory Beginning of Year End of YearRaw materials S 9, 000 S 11, 000Work in process 6, 000 21, 000Finished goods 71, 000 26, 000Required:1. Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials.2. Prepare a schedule of cost of goods sold.
I. January 1 5 7 15 20 4. 5. 6. 22 III. 30 What is the total ending inventory? The following material transactions of MLTB Corporation in the month of January: The beginning balance of material is 200 units at P100 Purchase 50 units at P120. Issued 80 units to production department Purchase 500 units at P90. Issued 600 units to production department Materials returned to storeroom 30 units. These units had been issued in January Purchase 300 units at P110. 1. FIFO 2. Weighted Average 3. Moving Average Assume that the ordering cost every time an order is placed is P80. How much will the total ordering cost if the firm makes an order based on the following frequencies: 7 times a year 8 times a year 10 times a year MLB Corporation needs to know the quantity when placing its orders. The information. The information is as follows: Units needed per year Cost per order Carrying cost per order 500 units P40 per order P4 per unit 7. What is the EOQ of MLB? 8. What is the Optimum Number of…
Question 5 In 2019, SixthZ had 75 treehouses in its ending inventory. Variable product costs per treehouse were $450, and fixed manufacturing overhead costs were applied at $75 per treehouse (which was the same as last year). The company's net operating income was $1.250 higher under absorption costing than it was under variable costing. What was the number of units of product in beginning inventory? 72 treehouses O92 treehouses O 58 treehouses 00 treehouses
Question 15 MCQs 15-18: Answer MCQs 15 to 18 based on the information in Problem 3 given below: Problem 3 (CLO5, PLO5, ZULOI): Davis provides the following information for the month of March 2011: March 1 Beginning Inventory March 7 Purchases March 18 Purchases March 24 Purchases 200 units 300 units 400 units 100 units Unsold units at month-end amounted to 180. 15. The total cost of goods available for sale is $13,560 $16,900 O $15,340 $13,858 $15 per unit $16 per unit $18 per unit $19 per unit
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D Question 35 The following information was taken from Cavite Company's accounting records for the year ended December 31, 2003: Decrease in raw materials inventory, P500,000 Increase in goods in process inventory, P1,500,000 Increase in finished goods inventory, P1,000,000 Raw materials purchased, P20,000,000 Direct labor payroll, P5,000,000 Factory overhead, P3,000,000 Freight out, P2,000,000 Freight in, P2,500,000 The cost of goods sold is Note for your final answer: 1. Do not use peso sign 2. Do not use comma 3. Do not use decimal point 4. Round off your final answer to the nearest whole number
tab es lock esc QUESTION 8 Deja Brew Company reported the following for the most recently completed fiscal year: Raw Materials Purchased Direct Labor Work-in-Process Inventory, Beginning Work-in-Process Inventory, Ending Finished Goods Inventory, Beginning Finished Goods Inventory, Ending Calculate cost of goods sold for the year. ! Click Save and Submit to save and submit. Click Save All Answers to save all answers. 1 Q A @ 2 W S # M $63,500 58,200 31,600 31,500 3 E Manufacturing Overhead Cost of Goods Manufactured $ 4 R % 07 dº 5 MacBook Pro D F $109,600 180,800 95,900 391,200 T 6 G 7 Y * 00 O H 8 U
Exercises 6-11A Inventory Turnover and Days’ Sales in Inventory The Southern Company installed a new inventory management system at the beginning of 2015. Shown below are data from the company’s accounting records as reported out by the new system: Sales Revenue $8, 000, 000 $11, 000, 000 Cost of Goods Sold 4, 000, 000 4, 800, 000 Beginning Inventory 510, 000 530, 000 Ending Inventory 530, 000 600, 000 Calculate the company’s (a) inventory turnover and (b) days’ sales in inventory for 2015 and 2016.
D Question 11 A company had a beginning work in process (WIP) inventory balance of $32.900. During the year, $55,100 of direct materials was placed into production Direct labor was $64,400, and Indirect labor was $19,900. Manufacturing overhead is allocated at 140% of direct labor costs. Actual manufacturing overhead was $86,500, and Cost of Goods Manufactured totaled $225,400. What is the ending work in process inventory balance? # $90.160 O $17.160. O $13.500 Ⓒ$187.4460

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