un 19 Problem 4 VisludsoVallpara peentena Tuoy dohr 3 ot-al HYZEL Manufacturing Company sold 12,000 units of Product RR in 2020. It expects to increase its sales volume by 10% next year. The inventory data of Product RR is as follows: b Beginning inventory (actual) Ending inventory (estimates) 3,000 units antroybod 4,500 units alq goue S Jounos quaisghut Required: Determine the number of units that must be produced by HYZEL Manufacturing pala cauteuibom Company. OUTCOMES gbud boxi d n

un 19 Problem 4 VisludsoVallpara peentena Tuoy dohr 3 ot-al HYZEL Manufacturing Company sold 12,000 units of Product RR in 2020. It expects to increase its sales volume by 10% next year. The inventory data of Product RR is as follows: b Beginning inventory (actual) Ending inventory (estimates) 3,000 units antroybod 4,500 units alq goue S Jounos quaisghut Required: Determine the number of units that must be produced by HYZEL Manufacturing pala cauteuibom Company. OUTCOMES gbud boxi d n

Name: Problem 4 VisludsoVallpara reenten & Toy dohr 3 otalanafacturing Comp
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Description: Problem 4 VisludsoVallpara reenten & Toy dohr 3 otalanafacturing Company Sold 12HYZEL Manufacturing Company sold 12,000 units of Product RR in 2020. It expects toincrease its sales volume by 10% next year. The inventory data of Product RR is as foll

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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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
Question 18 Choose the correct answer from the choices.
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Bright Light Corporation manufactures and sells two types of decorative lamps, Knox and Ayer. The following data are available for the year 2020. (Click the icon to view the information.) Calculate (1) the budgeted unit costs of ending finished-goods inventory on December 31, 2020 (label it Schedule 6A) and (2) the ending inventories budget on December 31, 2020 (label it Schedule 6B). (1). Calculate the budgeted unit costs of ending finished-goods inventory on December 31, 2020 (label it Schedule 6A). (Round all dollar amounts to the nearest cent. Enter all input per unit of output amounts for direct manufacturing labor to two decimal places, and machine setup overhead to three decimal places.) Schedule 6A: Unit Costs of Ending Finished Goods-Inventory December 31, 2020 Metal Fabric Direct manufacturing labor Machine setup overhead Total Cosp per unit of input Knox Input per unit of output lbs. yard hours hours Total Product Ayer Input per unit of output lbs. yards hours hours Total
QUESTION 4 The following information was extracted from the accounting records of ABC Manufacturers for the year ended September 2020: UNITS Inventory at the beginning of the year Production for the year Sales for the year (at R75 per unit) Nil 20 000 18 250 Direct Materials cost per unit Direct Labour cost per unit Variable Manufacturing overheads per unit Variable selling and administrative cost per unit Fixed manufacturing overhead cost Fixed selling and administrative cost The company utilises the first-in-first-out method of inventory valuation. 21 7 8 182 000 77 000 REQUIRED: 4.1 Prepare the Income Statement using the Marginal Costing method. 4.2 Prepare the Income Statement using the Absorption Costing method.
%24 %24 CDOOK Cost Flow Methods The following three identical units of Item JC07 are purchased during April: Item Beta Units Cost April 2 Purchase 1 $317 April 15 Purchase 1 318 April 20 Purchase 1 319 Total $954 Average cost per unit $318 ($954 3 units) Assume that one unit is sold on April 27 for $439. Determine the gross profit for April and ending inventory on April 30 using the (a) first-in, first-out (FIFO); (b) last-in, first-out (LIFO); and (c) weighted average cost method. Gross Profit Ending Inventory a. First-in, first-out (FIFO) %$4 $4 b. Last-in, first-out (LIFO) c. Weighted average cost
Need to answer 16-4 don't know what to do
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Question 3The League Company uses the LIFO (Last-in, First-out) costing method for its perpetual inventory system. It had inventory on 1st January 2021 consisting of 400 articles bought at RM4 each. The purchases during the month of January consisted of 800 at RM4.20 each purchased on 8 January, and 2,000 at RM3.80 each on 18 January. It sold 2,400 at RM5.00 each on 28 January. 40 of those sold were returned in perfect condition on 31 January. The returned goods were bought on 18 January. Required:a. i. Calculate, by means of an inventory account the number and cost of the articles held in inventory during January 2021. ii. The unit price and total cost of the inventory. b. Show the trading account for the month ended 31 January 2021.
Problem 11 (Adapted) The following information is for Mikaela Enterprises Ltd: OMNIA AVA T Jan. 31 Feb. 28 Mar. 31 P25,000 1 P25,100 17,600 20,000 29,000 P29,000 22,600 24,000 35,000 Apr. 30 P23,000 17,300 26,500 40,000 Inventory at cost Inventory at LCNRV 24,500 Purchases for the month Sales for the month Requirements: 1. Using the above information, prepare a monthly income statement for the month of February, March, and April. Mikaela Enterprises Ltd. uses the indirect or allowance method. 2. Prepare the journal entry that is needed to establish the valuation account on January 31. Also, prepare the journal entries to adjust it at the end of each month after that.
QUESTION 7 Thinkvision company has the following inventory 5 units @ 10 BD each. 9 units @ 10 BD each. The weighted average cost per unit for the above inventory is O 9.5 BD 9.67 BD 10 BD 9 BD QUESTION 8 of 1 500 for $4 600 cash The jou