Chapter 12, Problem 2Q

A company had expenses other than the cost of goods sold of $280,000. Determine sales and gross profit given that the cost of goods sold was $120,000 and net income was $180,000.

accounting?

I need assistance with this general accounting question using appropriate principles.

What is the total manufacturing cost?

Rachel is the stockholder and operator of Grand Dream LLC, a business coaching service. At the end of its accounting period, December 31, 2017, Grand Dream has assets of $825,000 and liabilities of $192,000. Using the accounting equation, determine the following amounts: a. Stockholders' equity as of December 31, 2017. b. Stockholders' equity as of December 31, 2018, assuming that assets increased by $128,000 and liabilities decreased by $42,000 during 2018.

Please explain the solution to this financial accounting problem with accurate principles.

Pluto Manufacturing reported the following: • • Direct labor: $7,500 Direct materials used: $3,000 Manufacturing overhead: $950 Cost of goods manufactured: $22,000 Ending work-in-process inventory: $2,200 What is the beginning work-in-process inventory?

Provide accurate answer

Direct materials:450, Direct labor:330