Computation of Sales price, Sales revenue and Cost of goods sold: The units sold are based on the cost plus markup percentage. In such cases, the need is to compute the cost per completed units by computing it through the method of equivalent production by taking in to consideration the equivalent units of completed and in process inventory and the cost per equivalent unit has to be computed for each element of cost. After computing the cost per completed unit, the defined percentage of mark-up is added to cost for arriving at the Selling price per unit. On the selling price and cost per completed unit, the total sales revenue and total cost of goods sold is computed by multiplying it with units sold. The Computation of Selling price, total sales revenue and cost of goods sold for Basic model of shirt.

Question

Want to see the full answer?

Answer 1

Question

Chapter 21, Problem 3CP

To determine

Computation of Sales price, Sales revenue and Cost of goods sold:

The units sold are based on the cost plus markup percentage. In such cases, the need is to compute the cost per completed units by computing it through the method of equivalent production by taking in to consideration the equivalent units of completed and in process inventory and the cost per equivalent unit has to be computed for each element of cost.

After computing the cost per completed unit, the defined percentage of mark-up is added to cost for arriving at the Selling price per unit.

On the selling price and cost per completed unit, the total sales revenue and total cost of goods sold is computed by multiplying it with units sold.

The Computation of Selling price, total sales revenue and cost of goods sold for Basic model of shirt.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Students have asked these similar questions

Please provide the solution to this general accounting question using proper accounting principles.

Kanye Ridge Industries has a beginning finished goods inventory of $24,300, raw material purchases of $31,500, cost of goods manufactured of $42,700, and an ending finished goods inventory of $18,900. The cost of goods sold for this company is?

Given the solution and accounting question

Answer 2

Question

Chapter 21, Problem 3CP

To determine

Computation of Sales price, Sales revenue and Cost of goods sold:

The units sold are based on the cost plus markup percentage. In such cases, the need is to compute the cost per completed units by computing it through the method of equivalent production by taking in to consideration the equivalent units of completed and in process inventory and the cost per equivalent unit has to be computed for each element of cost.

After computing the cost per completed unit, the defined percentage of mark-up is added to cost for arriving at the Selling price per unit.

On the selling price and cost per completed unit, the total sales revenue and total cost of goods sold is computed by multiplying it with units sold.

The Computation of Selling price, total sales revenue and cost of goods sold for Basic model of shirt.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 3

Question

Chapter 21, Problem 3CP

To determine

Computation of Sales price, Sales revenue and Cost of goods sold:

The units sold are based on the cost plus markup percentage. In such cases, the need is to compute the cost per completed units by computing it through the method of equivalent production by taking in to consideration the equivalent units of completed and in process inventory and the cost per equivalent unit has to be computed for each element of cost.

After computing the cost per completed unit, the defined percentage of mark-up is added to cost for arriving at the Selling price per unit.

On the selling price and cost per completed unit, the total sales revenue and total cost of goods sold is computed by multiplying it with units sold.

The Computation of Selling price, total sales revenue and cost of goods sold for Basic model of shirt.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 4

Question

Chapter 21, Problem 3CP

To determine

Computation of Sales price, Sales revenue and Cost of goods sold:

The units sold are based on the cost plus markup percentage. In such cases, the need is to compute the cost per completed units by computing it through the method of equivalent production by taking in to consideration the equivalent units of completed and in process inventory and the cost per equivalent unit has to be computed for each element of cost.

After computing the cost per completed unit, the defined percentage of mark-up is added to cost for arriving at the Selling price per unit.

On the selling price and cost per completed unit, the total sales revenue and total cost of goods sold is computed by multiplying it with units sold.

The Computation of Selling price, total sales revenue and cost of goods sold for Basic model of shirt.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 5

Chapter 21, Problem 3CP

To determine

Computation of Sales price, Sales revenue and Cost of goods sold:

The units sold are based on the cost plus markup percentage. In such cases, the need is to compute the cost per completed units by computing it through the method of equivalent production by taking in to consideration the equivalent units of completed and in process inventory and the cost per equivalent unit has to be computed for each element of cost.

After computing the cost per completed unit, the defined percentage of mark-up is added to cost for arriving at the Selling price per unit.

On the selling price and cost per completed unit, the total sales revenue and total cost of goods sold is computed by multiplying it with units sold.

The Computation of Selling price, total sales revenue and cost of goods sold for Basic model of shirt.

Answer 6

Chapter 21, Problem 3CP

To determine

Computation of Sales price, Sales revenue and Cost of goods sold:

The units sold are based on the cost plus markup percentage. In such cases, the need is to compute the cost per completed units by computing it through the method of equivalent production by taking in to consideration the equivalent units of completed and in process inventory and the cost per equivalent unit has to be computed for each element of cost.

After computing the cost per completed unit, the defined percentage of mark-up is added to cost for arriving at the Selling price per unit.

On the selling price and cost per completed unit, the total sales revenue and total cost of goods sold is computed by multiplying it with units sold.

The Computation of Selling price, total sales revenue and cost of goods sold for Basic model of shirt.

Answer 7

Chapter 21, Problem 3CP

To determine

Computation of Sales price, Sales revenue and Cost of goods sold:

The units sold are based on the cost plus markup percentage. In such cases, the need is to compute the cost per completed units by computing it through the method of equivalent production by taking in to consideration the equivalent units of completed and in process inventory and the cost per equivalent unit has to be computed for each element of cost.

After computing the cost per completed unit, the defined percentage of mark-up is added to cost for arriving at the Selling price per unit.

On the selling price and cost per completed unit, the total sales revenue and total cost of goods sold is computed by multiplying it with units sold.

The Computation of Selling price, total sales revenue and cost of goods sold for Basic model of shirt.

Answer 8

Expert Solution & Answer

Answer 9

Expert Solution & Answer

Answer 10

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 11

Ch. 21 - For Frank’s Funky Sounds, straight-line...Ch. 21 - Prob. 2QC Ch. 21 - Prob. 3QC Ch. 21 - Prob. 4QC Ch. 21 - Prob. 5QC Ch. 21 - On a CVP graph, the total cost line intersects the...Ch. 21 - If a company increases its sales price per unit...Ch. 21 - Prob. 8QC Ch. 21 - Prob. 9QC Ch. 21 - Prob. 10QC

Concept explainers

Videos

Want to see the full answer?

Chapter 21 Solutions