What is the measurement of the work in process inventory? * Cake Company uses the lower of cost or net realizable value method to value inventory. Data regarding the items in work in process inventory are presented below. Historical cost Selling price Estimated cost to complete Replacement cost Chocolate 240.000 360,000 48.000 208,000 25% Normal profit margin as a % of selling price What is the measurement of the work in process inventory? Strawberry 188,000 250,000 50,000 168.000 25% Mocha 300,000 360,000 68,000 318.000

What is the measurement of the work in process inventory? * Cake Company uses the lower of cost or net realizable value method to value inventory. Data regarding the items in work in process inventory are presented below. Historical cost Selling price Estimated cost to complete Replacement cost Chocolate 240.000 360,000 48.000 208,000 25% Normal profit margin as a % of selling price What is the measurement of the work in process inventory? Strawberry 188,000 250,000 50,000 168.000 25% Mocha 300,000 360,000 68,000 318.000

Name: What is the measurement of the work in process inventory?Cake Company
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Description: What is the measurement of the work in process inventory?Cake Company uses the lower of cost or net realizable value method to value inventory. Dataregarding the items in work in process inventory are presented below.Historical costSelling priceEsti

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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need help please. also, please Calculate the total cost of the1,600 units in ending inventory using absorption costing and variable costing
QUESTIONS A. Compute for the ending Finished Goods Inventory under Absorption costing B. Compute for the Ending Finished Goods Inventory under Variable Costing method
1. Compute the unit product cost under absorption costing. 2. Compute the net income under absorption costing. 3. What will be the value of the ending inventory if the company is using absorption costing?
What is the value of ending inventory using the variable costing method?
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The unadjusted cost of goods sold is calculated using which of the following equations? Multiple Choice O Beginning finished goods inventory + Cost of goods manufactured + Ending finished goods inventory Beginning finished goods inventory + Cost of goods manufactured - Ending finished goods inventory Beginning finished goods inventory - Cost of goods manufactured - Ending finished goods inventory Beginning finished goods inventory - Cost of goods manufactured + Ending finished goods inventory
Contribution Margin, Break-Even Sales, Cost-Volume-Profit Chart, Margin of Safety, and Operating Leverage Belmain Co. expects to maintain the same inventories at the end of 20Y7 as at the beginning of the year. The total of all production costs for the year is therefore assumed to be equal to the cost of goods sold. With this in mind, the various department heads were asked to submit estimates of the costs for their departments during the year. A summary report of these estimates is as follows: Estimated Estimated Variable Cost Fixed Cost (per unit sold) Production costs: Direct materials $50.00 Direct labor 30.00 Factory overhead $350,000 6.00 Selling expenses: Sales salaries and commissions 340,000 4.00 Advertising 116,000 Travel 4,000 Miscellaneous selling expense 2,300 1.00 Administrative expenses: Office and officers' salaries 325,000 Supplies 6,000 4.00 Miscellaneous administrative expense 8,700 1.00 Total $1,152,000 $96.00 It is expected that 12,000 units will be sold at a price…
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Please refer to pictures for parts 1 and 2, here is part 3: Cost per unit of goods sold using: Absorption costing Product cost per unit Number of units sold Cost of sold goods
The amount of ending inventory if absorption costing method was used
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