EBK FINANCIAL ACCOUNTING: AN INTRODUCTI
14th Edition
ISBN: 8220100453953
Author: Francis
Publisher: YUZU
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Suppose Austin Sound had sales of $300,000 and sales returns of
$45,000. The cost of goods sold was $152,000. How much gross profit
did Austin Sound report?
a. $148,000
b. $103,000
c. $255,000
d. $88,000
Which of the following is an example of a period cost for a
manufacturing company?
A. Property taxes for the factory
B. Advertising expense
C. Depreciation on factory equipment
D. Indirect materials
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- The materials price variance should be computed a. when materials are purchased b. when materials are used in production c. based upon the amount of materials used in production when only a portion of materials purchased is actually used d. based upon the difference between the actual quantity of inputs and the standard quantity allowed for output times the standard pricearrow_forwardI want to this question answer general Accounting questionarrow_forwardWhat is the equity at year-end?arrow_forward
- Financial accounting questionarrow_forwardGeneral Account = Calculate the debt ratio based on the following information: cash = $14,870; accounts receivable = $22,108; prepaid $3,010; supplies = $927; equipment = $62,150; accumulated depreciation = 13,750; accounts payable = 28,000. Round to two decimal places.arrow_forwardChoose best option in this general account questionsarrow_forward
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