Selected information regarding a company's most recent quarter follows (all data in thousands). Cost of goods...
Selected information regarding a company's most recent quarter follows (all data in thousands).
Cost of goods manufactured $1,590
Gross profit $2,630
Operating expenses $4,050
Ending finished goods inventory $480
Sales revenue $6,080
What was the beginning finished goods inventory?
Homework Answers
Sales-Cost of goods sold=Gross profit
Cost of goods sold=(6080-2630)=$3450
Cost of goods sold=Cost of goods manufactured+beginning finished goods inventory-Ending finished goods inventory
3450=1590+beginning finished goods inventory-480
beginning finished goods inventory=3450+480-1590
=$2340
Add Answer to:
Selected information regarding a company's most recent quarter
follows (all data in thousands).
Cost of goods...
Selected information regarding a company's most recent quarter follows (all data in thousands) Ending work in...
Selected information regarding a company's most recent quarter follows (all data in thousands) Ending work in process inventory Cost of goods manufactured Direct labor Direct materials used Beginning work in process inventory S650 S830 S430 $170 $400 What was manufacturing overhead for the quarter? OA $580 OB. S230 Ос. s480 O D. S600
Selected information regarding a company's most recent quarter is shown below: Ending work in process $680,000...
Selected information regarding a company's most recent quarter is shown below: Ending work in process $680,000 inventory Cost of goods $820,000 manufactured Direct Labor $430,000 Direct materials used $240,000 Beginning work in $350,000 process inventory What is manufacturing overhead for the quarter?
Porches, Inc., sells lawn furniture. Selected financial information for the most recent year follows. Beginning merchandise...
Porches, Inc., sells lawn furniture. Selected financial information for the most recent year follows. Beginning merchandise inventory on January 1 was $33,000. Ending merchandise inventory on December 31 was $35,000. Purchases during the year were $92,000. Selling and administrative expenses were $75,000. Sales for year were $262,000. What was gross profit?
Vaider Inc. has provided you with the following selected data regarding the company's production costs for...
Vaider Inc. has provided you with the following selected data regarding the company's production costs for the year 20x5: Direct Materials used Direct Labour Costs Indirect materials Indirect labour Closing WIP inventory Opening Finished Goods Inventory Ending Finished Goods Inventory Current sales (gross profit is 45% of sales) $283314 415520 116211 211801 258561 131609 121981 2196345 What was Vaider Inc.'s beginning WIP inventory balance for the year 20x5? Select one: O a. $430077 Ob. $1159871 Oc. $1418432 O d. $758089...
prepare the income statement for east aquatic company for the most recent year. use the calculation...
prepare the income statement for east aquatic company for the most
recent year. use the calculation of cost of goods sold, cost of
goods manufactured, and the amount below. Assume that the company
sold 30,000 units for its product at a price of $11 each during the
year.
DATA:
------------------------------------------
^^ what i did so far .. please use same format because i am
confused
Raw materials inventory Work in process inventory Finished goods inventory Purchases of direct materials Direct...
Problem 14-SA (Part Level Submission) Incomplete manufacturing costs, expenses, and selling data for two different cases...
Problem 14-SA (Part Level Submission) Incomplete manufacturing costs, expenses, and selling data for two different cases are as follows. (a) Indicate the missing amount. Case $9,790 Direct materials used Direct labor Manufacturing overhead Total manufacturing costs 6,000 8,780 2800 9,000 4,530 16,330 24570 Beginning work in process inventory 1,660 Ending work in process inventory 4910 3,980 Sales revenue Sales discounts Cost of goods manufactured Beginning finished goods inventory 25,890 2,990 17,270 1,790 23,050 4,050 22,180 27030 Goods available for sale...
What is the cost of goods manufactured? Required information Use the following information for the Exercises...
What is the cost of goods manufactured?
Required information Use the following information for the Exercises below. The following selected account balances are provided for Delray Mfg. $ Sales Raw materials inventory, beginning Work in process inventory, beginning Finished goods inventory, beginning Raw materials purchases Direct labor Factory supplies used (indirect materials) Indirect labor Repairs-Factory equipment Rent cost of factory building Advertising expense General and administrative expenses Raw materials inventory, ending Work in process inventory, ending Finished goods inventory, ending...
Several items are omitted from the income statement and cost of goods manufactured statement data for...
Several items are omitted from the income statement and cost of goods manufactured statement data for two different companies for the month of December On Off Company Company $86,850 $118,980 (a) 134,450 Materials inventory, December 1 Materials inventory, December 31 Materials purchased Cost of direct materials used in production 220,600 (a) 232,760 (b) 327,420 267,710 Direct labor 101,610 133,260 (b) 769,800 828,540 1,056,540 166,750 286,740 Factory overhead Total manufacturing costs incurred in December Total manufacturing costs Work in process inventory,...
Porches, Inc. sells lawn furniture. Selected financial information for the most recent year is as follows:...
Porches, Inc. sells lawn furniture. Selected financial information for the most recent year is as follows: Beginning merchandise inventory on January 1 was $33,900. Ending merchandise inventory on December 31 was $35,400. Purchases during the year were $92,000. Selling and administrative expenses were $76,000. Sales for year were $262,400. What was operating income for the year? O A. $92,900 OB. $95,900 OC. $90,500 OD. $94,400
Cost of Goods Sold, Profit margin, and Net Income for a Manufacturing Company The following information...
Cost of Goods Sold, Profit margin, and Net Income for a Manufacturing Company The following information is available for Bandera Manufacturing Company for the month ending January 31: Cost of goods manufactured $224,180 Selling expenses 74,880 Administrative expenses 39,590 Sales 476,970 Finished goods inventory, January 1 53,900 Finished goods inventory, January 31 49,130 For the month ended January 31, determine Bandera's (a) cost of goods sold, (b) gross profit, and (c) net income. (a) Bandera Manufacturing Company Cost of Goods...
Selected information regarding a company's most recent quarter follows (all data in thousands) Ending work in process inventory Cost of goods manufactured Direct labor Direct materials used Beginning work in process inventory S650 S830 S430 $170 $400 What was manufacturing overhead for the quarter? OA $580 OB. S230 Ос. s480 O D. S600
Selected information regarding a company's most recent quarter is shown below: Ending work in process $680,000 inventory Cost of goods $820,000 manufactured Direct Labor $430,000 Direct materials used $240,000 Beginning work in $350,000 process inventory What is manufacturing overhead for the quarter?
Vaider Inc. has provided you with the following selected data regarding the company's production costs for the year 20x5: Direct Materials used Direct Labour Costs Indirect materials Indirect labour Closing WIP inventory Opening Finished Goods Inventory Ending Finished Goods Inventory Current sales (gross profit is 45% of sales) $283314 415520 116211 211801 258561 131609 121981 2196345 What was Vaider Inc.'s beginning WIP inventory balance for the year 20x5? Select one: O a. $430077 Ob. $1159871 Oc. $1418432 O d. $758089...
prepare the income statement for east aquatic company for the most
recent year. use the calculation of cost of goods sold, cost of
goods manufactured, and the amount below. Assume that the company
sold 30,000 units for its product at a price of $11 each during the
year.
DATA:
------------------------------------------
^^ what i did so far .. please use same format because i am
confused
Raw materials inventory Work in process inventory Finished goods inventory Purchases of direct materials Direct...
Problem 14-SA (Part Level Submission) Incomplete manufacturing costs, expenses, and selling data for two different cases are as follows. (a) Indicate the missing amount. Case $9,790 Direct materials used Direct labor Manufacturing overhead Total manufacturing costs 6,000 8,780 2800 9,000 4,530 16,330 24570 Beginning work in process inventory 1,660 Ending work in process inventory 4910 3,980 Sales revenue Sales discounts Cost of goods manufactured Beginning finished goods inventory 25,890 2,990 17,270 1,790 23,050 4,050 22,180 27030 Goods available for sale...
What is the cost of goods manufactured?
Required information Use the following information for the Exercises below. The following selected account balances are provided for Delray Mfg. $ Sales Raw materials inventory, beginning Work in process inventory, beginning Finished goods inventory, beginning Raw materials purchases Direct labor Factory supplies used (indirect materials) Indirect labor Repairs-Factory equipment Rent cost of factory building Advertising expense General and administrative expenses Raw materials inventory, ending Work in process inventory, ending Finished goods inventory, ending...
Several items are omitted from the income statement and cost of goods manufactured statement data for two different companies for the month of December On Off Company Company $86,850 $118,980 (a) 134,450 Materials inventory, December 1 Materials inventory, December 31 Materials purchased Cost of direct materials used in production 220,600 (a) 232,760 (b) 327,420 267,710 Direct labor 101,610 133,260 (b) 769,800 828,540 1,056,540 166,750 286,740 Factory overhead Total manufacturing costs incurred in December Total manufacturing costs Work in process inventory,...
Porches, Inc. sells lawn furniture. Selected financial information for the most recent year is as follows: Beginning merchandise inventory on January 1 was $33,900. Ending merchandise inventory on December 31 was $35,400. Purchases during the year were $92,000. Selling and administrative expenses were $76,000. Sales for year were $262,400. What was operating income for the year? O A. $92,900 OB. $95,900 OC. $90,500 OD. $94,400
Cost of Goods Sold, Profit margin, and Net Income for a Manufacturing Company The following information is available for Bandera Manufacturing Company for the month ending January 31: Cost of goods manufactured $224,180 Selling expenses 74,880 Administrative expenses 39,590 Sales 476,970 Finished goods inventory, January 1 53,900 Finished goods inventory, January 31 49,130 For the month ended January 31, determine Bandera's (a) cost of goods sold, (b) gross profit, and (c) net income. (a) Bandera Manufacturing Company Cost of Goods...
Most questions answered within 3 hours.
-
Please answer in Python 3! 16.2** (Maximum increasingly ordered
subsequence) Write a program that prompts the...
asked 1 minute ago -
Energy is carried by which of the following waves?
(Select all that apply)
a) light wave...
asked 1 minute ago -
(Part 1) An investor wants to have $1,000,000 when she retires
in 20 years. If she...
asked 2 minutes ago -
ESP8266/Arduino UNO and temperature sensor MCP9700A.
Temperature sensor gives incorrect temperature readings in
celsius.
Both ESP8266...
asked 3 minutes ago -
1. Why has Dunkin’ Donuts increased its focus on
coffee?
2. Describe the strategy that Dunkin’...
asked 12 minutes ago -
two lady bugs sit on a rotating disk without slipping. lady bug
1 is half away...
asked 16 minutes ago -
Core Concepts of Accounting Information Systems
Discussion Question #4
Does a company have the right to...
asked 21 minutes ago -
Why does the Solow model cannot explain growth in the long run?
What is the role...
asked 23 minutes ago -
Question 8 Interactive LearningWare 26.2 offers a review of the
concepts that play roles in this...
asked 28 minutes ago -
draw product of cyclohex-2-en-1-one, Sodium methoxide and
hydronium workup
asked 36 minutes ago -
In a certain state, about 65% of drivers who are arrested for
driving while intoxicated (DWI)...
asked 37 minutes ago -
A single NEC SX-9 vector processor unit (VPU) has a peak
arithmetic
performance of 102.4 GFs/s....
asked 55 minutes ago