Question 1 Andromeda Manufacturing Company has the following data in the ledger for the year ended December 31, 2022: Amount (in $) 11,000 8,000 6,000 7,000 22,000 126,000 18,000 70,000 73,000 9,000 7,000 2,000 5,000 2,000 3,000 1,000 210,000 Items Beginning, RM inventory, January 01, 2022 Ending, RM inventory, December 31, 2022 Beginning, WIP inventory, January 01, 2022 Ending, WIP inventory, December 31, 2022 Beginning, FG inventory, January 01, 2022 Cost of goods available for sale Ending, FG inventory, December 31, 2022 Operating costs Purchases of direct materials Direct labor cost Indirect labor Supplies Heat, light, and power Depreciation - plant building Depreciation - plant equipment Miscellaneous Revenue

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Question 1
Andromeda Manufacturing Company has the following data in the ledger for the year ended December 31, 2022:
Amount (in $)
11,000
8,000
6,000
7,000
22,000
126,000
18,000
70,000
73,000
9,000
7,000
2,000
5,000
2,000
3,000
1,000
210,000
Items
Beginning, RM inventory, January 01, 2022
Ending, RM inventory, December 31, 2022
Beginning, WIP inventory, January 01, 2022
Ending, WIP inventory, December 31, 2022
Beginning, FG inventory, January 01, 2022
Cost of goods available for sale
Ending, FG inventory, December 31, 2022
Operating costs
Purchases of direct materials
Direct labor cost
Indirect labor
Supplies
Heat, light, and power
Depreciation - plant building
Depreciation - plant equipment
Miscellaneous
Revenue
Transcribed Image Text:Question 1 Andromeda Manufacturing Company has the following data in the ledger for the year ended December 31, 2022: Amount (in $) 11,000 8,000 6,000 7,000 22,000 126,000 18,000 70,000 73,000 9,000 7,000 2,000 5,000 2,000 3,000 1,000 210,000 Items Beginning, RM inventory, January 01, 2022 Ending, RM inventory, December 31, 2022 Beginning, WIP inventory, January 01, 2022 Ending, WIP inventory, December 31, 2022 Beginning, FG inventory, January 01, 2022 Cost of goods available for sale Ending, FG inventory, December 31, 2022 Operating costs Purchases of direct materials Direct labor cost Indirect labor Supplies Heat, light, and power Depreciation - plant building Depreciation - plant equipment Miscellaneous Revenue
Heal, gi
Depreciation - plant building
Depreciation - plant equipment
Miscellaneous
Revenue
Answer the following questions using comma to represent thousands and without the dollar sign and decimal places:
1. How much is the CGM?
2. How much is the CGS?
3. How much is the gross margin?
2,000
3,000
1,000
210,000
4. How much is the operating income?
5. How much is the operating income when CGS is adjusted to $140,000?
Transcribed Image Text:Heal, gi Depreciation - plant building Depreciation - plant equipment Miscellaneous Revenue Answer the following questions using comma to represent thousands and without the dollar sign and decimal places: 1. How much is the CGM? 2. How much is the CGS? 3. How much is the gross margin? 2,000 3,000 1,000 210,000 4. How much is the operating income? 5. How much is the operating income when CGS is adjusted to $140,000?
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