Question 3The following information is available for Marigold Company. January 1, 2017 2017 December 31, 2017Raw materials inventory $25,330 $33,190Work in process inventory 15,170 19,680Finished goods inventory 28,340 21,530Materials purchased $152,300 Direct labor 223,050 Manufacturing overhead 183,600 Sales revenue 902,420 3. Show the presentation of the ending inventories on the December 31, 2017, balance sheet.MARIGOLD COMPANY(Partial) Balance Sheet For the Year Ended December 31, 2017For the Month Ended December 31, 2017December 31, 2017 Current AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal Stockholders' Equity Accounts ReceivableCashFinished GoodsInventoriesPrepaid ExpensesRaw MaterialsWork in Process Accounts Receivable Cash Finished Goods Inventories Prepaid Expenses Raw Materials Work in Process $ Accounts Receivable Cash Finished Goods Inventories Prepaid Expenses Raw Materials Work in Process Accounts Receivable Cash Finished Goods Inventories Prepaid Expenses Raw Materials Work in Process $ Return on investment%%Show Work is REQUIRED for this question: Open Show Work>>|>>> (a)Prepare a responsibility report for an investment center as illustrated in the chapter. (Round ROI to 1 decimal place, e.g. 1.5.)BRAMBLE DENTAL CLINICPreventive ServicesResponsibility ReportDifferenceFavorable FUnfavorable UNeither Favorablenor Unfavorable NBudgetActual$$Policy © 2000-2020 John Wiley & Sons, Inc. All Rights Reserved, A Division of John Wiley & Sons, Inc.>

Name: Question 3The following information is available for Marigold Company.
Uploaded: 2024-03-20T06:32:37.000Z
Channel: Bartleby
Description: Question 3The following information is available for Marigold Company. January 1, 2017 2017 December 31, 2017Raw materials inventory $25,330 $33,190Work in process inventory 15,170 19,680Finished goods inventory 28,340 21,530Materials purchase

Answered: Question 3 The following information is…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Question 3

The following information is available for Marigold Company.

	January 1, 2017	2017	December 31, 2017
Raw materials inventory	$25,330		$33,190
Work in process inventory	15,170		19,680
Finished goods inventory	28,340		21,530
Materials purchased		$152,300
Direct labor		223,050
Manufacturing overhead		183,600
Sales revenue		902,420

3. Show the presentation of the ending inventories on the December 31, 2017, balance sheet.

MARIGOLD COMPANY (Partial) Balance Sheet For the Year Ended December 31, 2017For the Month Ended December 31, 2017December 31, 2017
Current AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal Stockholders' Equity
Accounts ReceivableCashFinished GoodsInventoriesPrepaid ExpensesRaw MaterialsWork in Process
Accounts Receivable Cash Finished Goods Inventories Prepaid Expenses Raw Materials Work in Process	$
Accounts Receivable Cash Finished Goods Inventories Prepaid Expenses Raw Materials Work in Process
Accounts Receivable Cash Finished Goods Inventories Prepaid Expenses Raw Materials Work in Process
		$

Return on investment
%
%
Show Work is REQUIRED for this question: Open Show Work
>
>
|>
>
>

(a)
Prepare a responsibility report for an investment center as illustrated in the chapter. (Round ROI to 1 decimal place, e.g. 1.5.)
BRAMBLE DENTAL CLINIC
Preventive Services
Responsibility Report
Difference
Favorable F
Unfavorable U
Neither Favorable
nor Unfavorable N
Budget
Actual
$
$
Policy © 2000-2020 John Wiley & Sons, Inc. All Rights Reserved, A Division of John Wiley & Sons, Inc.
>

Expert Solution

Trending now

This is a popular solution!

Step by step

Solved in 3 steps with 2 images

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions