Excel Applications for Accounting Principles
4th Edition
ISBN: 9781111581565
Author: Gaylord N. Smith
Publisher: Cengage Learning
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Chapter 16, Problem 2R
To determine
Prepare the schedule of cost of goods manufactured and soldusing the necessary formulae.
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Chapter 16 Solutions
Excel Applications for Accounting Principles
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- Open the file CVP from the website for this book at cengagebrain.com. Enter the formulas where indicated on the worksheet. Enter your name in cell A1. Save the solution as CVP2 and print the worksheet. Also print your formulas. Check figures: Break-even point in sales dollars (cell C35), 1,616,000; Net income (cell C38), 95,000.arrow_forwardMUST show all of your work in order. Provide both calculations and reasoning clearly. Round partial units upward . Round percentage to one decimal point , Round currency to dollars and cents . Use commas.arrow_forwardCleveland Foods Data Note: You can download the Excel file containing Cleveland Foods' data by clicking the above link and perform the necessary calculations for answering the upcoming questions. Question 12 (1 point) □ What is the unit contribution of BlueLiq, considering the given information? $0.70 $2.50 $ 1.00 $1.70 $ $ J 0 20% Retail Margin 2.50 Price to consumers (Retail Price) 15% Wholesale Margin 2.00 Price to retailers (Wholesale Price) $ 1.70 Price to Wholesalers Variable Costs $ 0.70 per unit Fixed Costs Variable Manufacturing Costs $300,000 annual $200,000 Corporate Overhead $250,000 Marketing and Advertising $750,000 Total Fixed Costs Cleveland Foods Data Fixed Manufacturing Costs Note: You can download the Excel file containing Cleveland Foods' data by clicking the above link and perform the necessary calculations for answering the upcoming questions. Question 11 (1 point). Listen 4 What is the price at which Cleveland Foods sells BlueLiq to wholesalers? $1.70 $2.50 $1.00arrow_forward
- This question is for business math using the single trade discount and net price. Complete the following table: (Do not round intermediate calculations. Round your final answers to the nearest cent.) A treadmills list price is $3,000. Use the chain discount of 9/4 to get the net price and the single trade discount. Please explain how I work out both the single trade discount and the net price using the list price and the chain discount. So I can learn how to work out a problem like this for my midterm next week. For the net price, I got $180.00 but I am not sure if that is right.arrow_forwardFind the net cost (invoice amount) for the following. Round to the nearest cent. LIST PRICE: $790 less 10/15 PLEASE HELParrow_forwardThe following information is for Bonnies Buds, a nursery and floral shop, for the month ended May 31, 2012: Open the file FMERCH from the website for this book at cengagebrain.com. Enter all formulas and titles where indicated on the worksheet. For example, FORMULA2 is =G29 and TITLE A is Sales Discount. When you are finished, make sure that your balance sheet balances. Enter your name in cell A1. Save your completed file as FMERCH2. Print the worksheet. Also print your formulas. Check figure: Total assets (cell G101), 545,880.arrow_forward
- e. The unadjusted balance of the Supplies account is $3,000. The total cost of supplies on hand is $1,600. Journal Entry Accounts Debit Credit e. Choose from any list or enter any number in the input fields and then click Check Answer.arrow_forwardplease answer both the questions within 30 minutes. make sure u solve both the parts else i will give negative ratings for sure.arrow_forwardEntry Rules: For units round your answer up. Examples: If your answer is 281.01 units, enter 282 If your answer is 281.42 units, enter 282 If your answer is 281.00 units, enter 281 For dollars round to the nearest PENNY. Examples: If your answer is $504.472, enter 504.47 If your answer is $504.476, enter $504.48 If your answer is $504.000, enter 504.00 Never enter $ or , when inputting numerical answers QUESTION: Anna Inc. sells two products as follows: Product A Product B Units sold 3,800 4,750 Selling price per unit $300 $450 Variable costs per unit $120 $270 The company has the following fixed costs: Product A, $613,000, Product B, $1,023,000, and common fixed costs of $410,000. Using the above information answer the following questions. What is the package contribution margin? HINT: this is a dollar value so please round to the nearest penny. 1539000 What is the break-even in units for both Product A and Product B together? 11367 How many units of Product A are required to…arrow_forward
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