FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
6th Edition
ISBN: 9781618533111
Author: DYCKMAN
Publisher: Cambridge Business Publishers
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Chapter 2, Problem 38E

a.

To determine

Prepare the balance sheet as on September 30, 2019.

b.

To determine

Prepare the balance sheet as on October 01, 2019.

c.

To determine

Determine the current ratio and quick ratio for as on September 30, 2019 and October 01, 2019.

d.

To determine

State the two transactions that will improve the BC Services’ Liquidity.

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During September, the assembly department completed 10,500 units of a product that had a standard materials cost of 3.0 square feet per unit at $2.40 per square foot. The actual materials purchased consisted of 22,000 square feet at $2.60 per square foot, for a total cost of $57,200. The actual material used during this period was 25,500 square feet. Compute the materials price variance and materials usage variance.
Bluesy Electronics recorded the following financial data: Net Sales $720,500 Average Inventory at Cost = $80,200 Gross Margin Percentage = 42% Calculate the GMROI.
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