X Company had $90,000 of ending finished goods inventory, beginning finished goods inventory was $100,000, and cost of goods sold $620,000 Refer to the above, how much would the company report for cost of goods manufactured? * $710,000 O $610,000 $600,000 None of the above Refer to the above, assume that sales revenue for the year was $1,260,000 and total period costs were $300,000. The

X Company had $90,000 of ending finished goods inventory, beginning finished goods inventory was $100,000, and cost of goods sold $620,000 Refer to the above, how much would the company report for cost of goods manufactured? * $710,000 O $610,000 $600,000 None of the above Refer to the above, assume that sales revenue for the year was $1,260,000 and total period costs were $300,000. The

Name: 4G+11:56 M* ll 69%* RequiredUse the following to answer the two quest
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Description: 4G+11:56 M* ll 69%* RequiredUse the following to answer the two questions below.X Company had $90,000 of endingfinished goods inventory, beginningfinished goods inventory was $100,000,and cost of goods sold $620,000Refer to the above, how much would

Quickbooks Online Accounting

3rd Edition

ISBN:9780357391693

Author:Owen

Publisher:Owen

Chapter4: Operating Activities: Sales And Cash Receipts

Section: Chapter Questions

Problem 1.3C

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What is the correct answer to question 1 and 2? Provide solution.
vklcVkdFKmgEUGNwOFpSlpJg/formResponse CExpo 2002 CExpo Bodhi Amaala Tatweer Mashroat IMCTC direct Use the following to answer the two questions below: X Company had $90,000 of ending finished goods inventory, beginning finished goods inventory was $100,000, and cost of goods sold $610,000 Refer to the above, how much would the company report for cost of goods manufactured? $700,000 $510,000 S600.000 None of the above
What is the average purchase price per unit for the each product? * $85.00 Product QBC Product RBO $205.56 $145.00 $55.00
The journal entry to record the completion of Job No.114 at a cost of $18,000 would include: * A debit to Work in Process Inventory $18,000 and a debit to Finished Goods Inventory $18,000 A credit to Work in Process Inventory $18,000 and a debit to Finished Goods Inventory $18,000 A debit to Work in Process Inventory $18,000 and a credit to Finished Goods Inventory $18,000 None of the above Goods costing $15,000 were sold for $20,000 on account. The entry to record this transaction would include: * A debit to Accounts Receivable $15,000 and a credit to Sales Revenue $20,000 A debit to Cost of Goods Sold $15,000 and a credit to Finished Goods Inventory $15,000 A debit to Cost of Goods Sold $20,000 and a credit to Finished Goods Inventory $20,000 earch
Calculate the cost of goods sold when beginning finished goods inventory equals $70,000, ending finished goods inventory is $85,000, and cost of goods manufactured is $600,000. a. $615,000 b. $445,000 c. $685,000 d. $585,000
If the cost of goods sold is $100,000 and the ending finished goods inventory is$30,000 higher than the beginning finished goods inventory, what must be the amountof the cost of goods manufactured?a. $30,000b. $100,000c. $130,000d. $70,000
Cost of goods sold $445000 Income tax expense 66000 Operating expenses 341000 Sales 1000000 The profit margin would be 55.5%. 14.8%. 44.5%. 21.4%.
What is the cost of goods sold? O A. $751,700 OB. $364,500 O C. $455,400 O D. $520,600
Use the following to answer questions 30 – 35 Find the missing amounts: Case 1 Case 2 Case 3 Net Sales S687,000 $922,500 COGS ? 478,500 654,000 Gross profit 324.100 456.000| Operating expense 299,500 354,200 Operating income ? ? 94.500 30. $ sold For case 1, determine cost of goods 31. $ For case 1, determine operating income (include “-“ if needed) 32. $ For case 2, determine gross profit 33. $ (include For case 2, determine operating income “_“ if needed) 34. $ For case 3, determine net sales 35. $ For case 3, determine operating expense
Compue the value by LCNRV
Problem: AAA Company produces and sells Product X: Annual Demand 24,000 units Annual cost to held one unit of inventory P11.52 Order Cost P38.40 Beg. Inventory P 0 a. What is the Economic Order Quantity? b. How much is the total Order Costs? c. How much is the total Carrying Costs?
00 Chapter 1 PROBLEM 1-19 Traditional and Contribution Format Income Statements L01-6 Todrick Company is a merchandiser that reported the following information based on 1,000 units sold: Sales..... Beginning merchandise inventory. Purchases..... 1. 2. 3. 4. 5. 6. Ending merchandise inventory Fixed selling expense...... Fixed administrative expense. Variable selling expense. Variable administrative expense Contribution margin. Net operating income $300,000 $20,000 $200,000 $7,000 ? $12,000 $15,000 ? $60,000 $18,000 Required: Prepare a contribution format income statement. Prepare a traditional format income statement. Calculate the selling price per unit. Calculate the variable cost per unit. Calculate the contribution margin per unit. Which income statement format (traditional format or contribution format) would be more useful to managers in estimating how net operating income will change in responses to changes in unit sales? Why?