Compute gross margin percentage of Incorporation P for the year 2013 and 2012.

Question

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Answer 1

Question

Chapter 5, Problem 3ATC

a.

To determine

Compute gross margin percentage of Incorporation P for the year 2013 and 2012.

b.

To determine

Compute average days to sell inventory of Incorporation P for the year 2013 and 2012.

c.

To determine

Identify the amount by which Incorporation P’s earnings before taxes would have been higher or lower in the year 2013, if its gross margin percentage had been the same it was in the year 2012.

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Before prorating the manufacturing overhead costs at the end of 2016, the Cost of Goods Sold and Finished Goods Inventory had applied overhead costs of $59,700 and $54,000 in them, respectively. There was no Work-in-Process at the beginning or end of 2016. During the year, manufacturing overhead costs of $88,000 were actually incurred. The balance in the Applied Manufacturing Overhead was $94,500 at the end of 2016. If the under-or overapplied overhead is prorated between the Cost of Goods Sold and the inventory accounts, how much will be the Cost of Goods Sold after the proration? (rounded answer)

Answer 2

Question

Chapter 5, Problem 3ATC

a.

To determine

Compute gross margin percentage of Incorporation P for the year 2013 and 2012.

b.

To determine

Compute average days to sell inventory of Incorporation P for the year 2013 and 2012.

c.

To determine

Identify the amount by which Incorporation P’s earnings before taxes would have been higher or lower in the year 2013, if its gross margin percentage had been the same it was in the year 2012.

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Answer 3

Question

Chapter 5, Problem 3ATC

a.

To determine

Compute gross margin percentage of Incorporation P for the year 2013 and 2012.

b.

To determine

Compute average days to sell inventory of Incorporation P for the year 2013 and 2012.

c.

To determine

Identify the amount by which Incorporation P’s earnings before taxes would have been higher or lower in the year 2013, if its gross margin percentage had been the same it was in the year 2012.

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Answer 4

Question

Chapter 5, Problem 3ATC

a.

To determine

Compute gross margin percentage of Incorporation P for the year 2013 and 2012.

b.

To determine

Compute average days to sell inventory of Incorporation P for the year 2013 and 2012.

c.

To determine

Identify the amount by which Incorporation P’s earnings before taxes would have been higher or lower in the year 2013, if its gross margin percentage had been the same it was in the year 2012.

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Answer 5

Chapter 5, Problem 3ATC

a.

To determine

Compute gross margin percentage of Incorporation P for the year 2013 and 2012.

b.

To determine

Compute average days to sell inventory of Incorporation P for the year 2013 and 2012.

c.

To determine

Identify the amount by which Incorporation P’s earnings before taxes would have been higher or lower in the year 2013, if its gross margin percentage had been the same it was in the year 2012.

Answer 6

Chapter 5, Problem 3ATC

a.

To determine

Compute gross margin percentage of Incorporation P for the year 2013 and 2012.

Answer 7

Chapter 5, Problem 3ATC

a.

To determine

Compute gross margin percentage of Incorporation P for the year 2013 and 2012.

Answer 8

b.

To determine

Compute average days to sell inventory of Incorporation P for the year 2013 and 2012.

Answer 9

b.

To determine

Compute average days to sell inventory of Incorporation P for the year 2013 and 2012.

Answer 10

c.

To determine

Identify the amount by which Incorporation P’s earnings before taxes would have been higher or lower in the year 2013, if its gross margin percentage had been the same it was in the year 2012.

Answer 11

c.

To determine

Identify the amount by which Incorporation P’s earnings before taxes would have been higher or lower in the year 2013, if its gross margin percentage had been the same it was in the year 2012.

Answer 12

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Answer 13

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Answer 14

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Answer 15

Ch. 5 - Prob. 1Q Ch. 5 - Prob. 2Q Ch. 5 - Prob. 3Q Ch. 5 - Prob. 4Q Ch. 5 - Prob. 5Q Ch. 5 - Prob. 6Q Ch. 5 - Prob. 7Q Ch. 5 - Prob. 8Q Ch. 5 - Prob. 9Q Ch. 5 - Prob. 10Q

Compute gross margin percentage of Incorporation P for the year 2013 and 2012.

Compute gross margin percentage of Incorporation P for the year 2013 and 2012.

Compute average days to sell inventory of Incorporation P for the year 2013 and 2012.

Identify the amount by which Incorporation P’s earnings before taxes would have been higher or lower in the year 2013, if its gross margin percentage had been the same it was in the year 2012.

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