The owner of a large machine ship has just finished its financial analysis from the prior fiscal year. The following is an excerps from the final report. Net revenue Cost of goods sold Value of production materials on hand $41,500 Value of work-in-process inventory $31,000 Value of finished goods on hand a. Compute the inventory turnover ratio (ITR). b. Compute the weeks of supply (WS). $22,500 $500,000 $328,250

The owner of a large machine ship has just finished its financial analysis from the prior fiscal year. The following is an excerps from the final report. Net revenue Cost of goods sold Value of production materials on hand $41,500 Value of work-in-process inventory $31,000 Value of finished goods on hand a. Compute the inventory turnover ratio (ITR). b. Compute the weeks of supply (WS). $22,500 $500,000 $328,250

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

Direct materials purchased during the year amount to $517,800, and the cost of goods sold for the year was $1,895,000. Prepare a cost of good sold statement.
Ryder Manufacturing reported the following year end information: beginning work in process inventory $90,000; cost of goods manufactured $258,000; beginning finished goods inventory, $126,000; ending work in process inventory. $110,000; and ending finished goods inventory. $132,000. Ryders cost of goods sold for the year is: a. S252,000 b. $264,000 $238,000 d. S126,000
The following is extracted from the records of a manufacturing company for last year: £ Sales 600,000 Inventory of direct materials as of 1st of January 39,000 Purchases of direct materials 158,000 Inventory of direct materials as of 31st of December 19,000 Direct manufacturing labour 28,000 Indirect manufacturing costs 45,000 Inventory of finished goods as of 1st of January 47,000 Cost of goods manufactured 121,000 Inventory of finished goods as of 31st of December 33,000 Selling and administrative costs 119,000 What is the company’s operating income? a. £177,000 b. None of the above c. £346,000 d. £95,000
Manufacturing Company Balance Sheet Partial balance sheet data for Diesel Additives Company at August 31 are as follows: Line Item Description Amount Finished goods inventory $13,600 Prepaid insurance 13,900 Accounts receivable 35,400 Work in process inventory 54,400 Supplies 24,500 Materials inventory 29,900 Cash 38,100 Prepare the “Current assets” section of Diesel Additives Company’s balance sheet at August 31. Diesel Additives Company Balance Sheet August 31 Line Item Description Amount Amount Current assets: $- Select - - Select - Inventories: $- Select - - Select - - Select - Total inventories Total inventories - Select - - Select - Total current assets $Total current assets
the following data (in thousands of dollars) have been taken from the accounting records of Karstone Corporatino for the just completed year. Sales $880 Raw materials in inventory, beginning: $20 Raw materials inventory, ending: $30 Purchases of raw materials: $160 Direct labor: $180 Manufacturing overhead: $230 Administrative expenses $100 Selling expenses: $130 Work in process inventory, beginning: $80 Work in process inventory, ending: $30 Finished goods in inventory, beginning: $120 Finished goods in inventory, ending: $100 The cost of goods manufactured (finished) for the year (in thousands of dollars) was: $610 $600 $500 $630 Show work/calculation
.
Give me correct answer with explanation.s
The following data (in thousands of dollars) have been taken from the accounting records of Karlana Corporation for the just completed year. Sales ........... Raw materials inventory, beginning........... Raw materials inventory, ending. $910 $80 $20 $100 $130 $200 $160 Selling expenses.......... $140 Work in process inventory, beginning....... $40 Work in process inventory, ending....... $10 Finished goods inventory, beginning......... $130 Finished goods inventory, ending.... $150 The cost of goods sold for the year (in thousands of dollars) was: Purchases of raw materials.... Direct labor........... Manufacturing overhead. Administrative expenses........ O $670 O $500 $540 O $650
want the answer
The following is the year ended data for Tiger Company: Sales Revenue $58,000 Cost of Goods Manufactured 21,000 Beginning Finished Goods Inventory 1,100 Ending Finished Goods Inventory 2,200 Selling Expenses 15,000 Administrative Expenses 3,900 What is the gross profit? A. $22,100 B. $38,100 C. $19,200 D.