Refer to the following information from a long term care facilityfor questions 6-10.AprilMayJuneEnding Food Inventory231928312462Food Purchased812690378496Labor costs123631197412197Supply costs5125925516282Operating Costs67916547119121123Average Daily CensusWhat is the value of the food used in June?OA. $11,327B. $10,958O C. $8496O D. $8865QUESTION 7Click Save and Submit to save and submit. Click Save All Answers to save all answers.

Name: Refer to the following information from a long term care facilityfor
Uploaded: 2024-03-20T06:32:37.000Z
Channel: Bartleby
Description: Refer to the following information from a long term care facilityfor questions 6-10.AprilMayJuneEnding Food Inventory231928312462Food Purchased812690378496Labor costs123631197412197Supply costs5125925516282Operating Costs67916547119121123Average Dai

Cost of food used in June = Beginning inventory of June + Foods purchased in June - Ending inventory…

Business

Accounting

Refer to the following information from a long term care facility for questions 6-10. April May June Ending Food Inventory 2319 Food Purchased 8126 Labor costs 12363 Supply costs 512 Operating Costs 6282 119 Average Daily Census What is the value of the food used in June? OA. $11,327 OB. $10,958 OC. $8496 D. $8865 2831 9037 11974 592 6791 121 2462 8496 12197 551 6547 123

Refer to the following information from a long term care facility for questions 6-10. April May June Ending Food Inventory 2319 Food Purchased 8126 Labor costs 12363 Supply costs 512 Operating Costs 6282 119 Average Daily Census What is the value of the food used in June? OA. $11,327 OB. $10,958 OC. $8496 D. $8865 2831 9037 11974 592 6791 121 2462 8496 12197 551 6547 123

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Please do not give solution in image format thanku
Sylvia's Designs Co. had the following inventory activity during April: Units Unit cost Beginning inventory 100 $10 Purchase (April 3) 50 12 Sale (April 10) 80 Purchase (April 18) 40 14 Purchase (April 23) 60 15 Sale (April 28) 120 Assuming Sylvia's uses a periodic FIFO cost flow assumption, cost of goods sold for April would be: a. $2,560 b. $750 c. $2,310 d. $500
ff1
What was the cost of food sold in May 2023 in Nightingale Restaurant on Robson Street if the beginning inventory revealed $4,640 inventory value in storage, the ending inventory on May 31, 2023 was $4,767, the purchases in May totaled 8,720, the issues from the kitchen to bar were $104, and $56 wine was transferred from bar to kitchen. The restaurant doesn't provide employee meals. a. $8,799 b. $8,545 c. $8,593 d. $8,489 Finish att
A5
find cost of goods sold ending inventory and gross margin using FIFO and weighted average Kindly answer in text with all workings
Bramble Company reports the following for the month of June. June 1 (a) 12 23 30 (b) Inventory 290 Purchase 400 Purchase Inventory Units Unit Cost $5 Cost of goods sold 300 130 Cost of the ending inventory Your answer has been saved. See score details after the due date. Compute the cost of the ending inventory and the cost of goods sold under FIFO and LIFO. Save for Later 6 $ 7 in Total Cost $1,450 2,400 2,100 FIFO 910 5040 Which costing method gives the higher ending inventory? 5 $ LIFO 650 5300 Attempts: 1 of 1 used Attempts: 0 of 1 used Submit Answer
Please do not give solution in image format thanku
The Shirt Shop had the following transactions for T-shirts for 2018, its first year of operations: $ 9 @ $11 @ $12 = @ $13 440 units $3,960 1,430 2,880 Jan. 20 Purchased Apr. 21 July 25 Sept. 19 Purchased 130 units Purchased 240 units Purchased 70 units 910 %3D During the year, The Shirt Shop sold 710 T-shirts for $18 each. Required a. Compute the amount of ending inventory The Shirt Shop would report on the balance sheet, assuming the following cost flow assumptions: (1) FIFO, (2) LIFO, and (3) weighted average. Round intermediate calculations to 2 decimal places and final answers to the nearest whole dollar amount. Weighted Average FIFO LIFO Ending inventory Il || ||II
Problem 4- Compute FIFO, LIFO, and Average Cost Some of the information found on a detail inventory card for Public's Supermarket for the first month of operations is as follows: Date March 1 6 8 10 12 16 19 22 26 31 No. of Units 2,000 500 1,000 2,000 Received 1,500 Unit Cost $6.00 6.05 6.20 6.25 6.50 Issued, No. of Units 700 1,400 800 200 600 1,200 Balance, No. of Units 2,000 2,500 1,800 400 1,400 600 2,400 1,800 3,300 2,100 Instructions From these data compute the ending inventory on each of the following bases. Assume that periodic inventory records are kept in units only. Carry unit costs to the nearest cent and ending inventory to the nearest dollar. a. First-in, first-out (FIFO). b. Last-in, first-out (LIFO). c. Average-cost.
The Shirt Shop had the following transactions for T-shirts for Year 1, its first year of operations: Jan. 20 Apr. 21 July 25 Sept. 19 Purchased Purchased Purchased Purchased 310 units 150 units 210 units $ 7- $2,170 $9- 1,350 $10- 2,100 90 unite $12 - 1,080 During the year, The Shirt Shop sold 560 T-shirts for $17 each. Required a. Compute the amount of ending inventory The Shirt Shop would report on the balance sheet, assuming the following cost flow assumptions: (1) FIFO, (2) LIFO, and (3) weighted average, b. Compute the difference in gross margin between the FIFO and LIFO cost flow assumptions.
On April 30, 2020, a fire damaged the office of Waterloo 1. What is the total amount of sales up to April 30? Problem 13-15 (AICPA Adapted) & 4,200,000 b. 4,220,000 c. 4,140,000 d. 4,160,000 What is the total amount of purchases up to April 30? Company. on March 31, 2020: Accounts receivable Inventory - January1 Accounts payable Sales Purchases 920,000 1,880,000 950,000 3,600,000 1,680,000 • An examination of the April bank statement and canceled checks revealed checks written during the period April 1-3 a. 1,760,000 b. 2,100,000 c. 2,020,000 d. 1,680,000 Accounts payable as of March 31 April merchandise shipments Expenses 240,000 80,000 160,000 3 What is the inventory on April 30? Deposits during the same period amounted to P440,000 which consisted of collections from customers with the exception of P20,000 refund from a vendor for merchåndise returned in April. a. 1,476,000 b. 1,464,000 1,440,000 d. 1,428,000 ( What is the fire loss to be recognized on April 30? Customers…