Question 4 (7 points) During FY 2018 Bay Manufacturing had total manufacturing costs are $450,000. Their...
Question 4 (7 points)
During FY 2018 Bay Manufacturing had total manufacturing costs are $450,000. Their cost of goods manufactured for the year was $447,000. The January 1, 2019 balance of Work-in-Process Inventory is $42,000. Use this information to determine the dollar amount of the FY 2018 beginning Work-in-Process Inventory. (Round dollar values & enter as whole dollars only.)
Homework Answers
Answer :- Calculation of the dollar amount of the FY 2018 beginning Work-in-process inventory :-
Beginning Work-In-Process Inventory = Cost of goods manufactured + Ending WIP - Total manufacturing cost
Beginning Work-in-Process Inventory = $447,000 + $42,000 - $450,000
Beginning Work-In-Process Inventory = $39,000
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Question 4 (7 points)
During FY 2018 Bay Manufacturing had total manufacturing
costs are $450,000. Their...
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During FY 2018 Bay Manufacturing had total manufacturing costs are $440,000. Their cost of goods manufactured for the year was $455,000. The January 1, 2019 balance of Work-in-Process Inventory is $50,000. Use this information to determine the dollar amount of the FY 2018 beginning Work-in-Process Inventory. (Round dollar values & enter as whole dollars only.)
During FY 2018 Bay Manufacturing had total manufacturing costs are $440,000. Their cost of goods manufactured...
During FY 2018 Bay Manufacturing had total manufacturing costs are $440,000. Their cost of goods manufactured for the year was $425,000. The January 1, 2019 balance of Work-in-Process Inventory is $60,000. Use this information to determine the dollar amount of the FY 2018 beginning Work-in-Process Inventory. (Round dollar values & enter as whole dollars only.)
Question 2 (7 points) Baltimore Manufacturing had a Work in Process balance of $95,000 on January...
Question 2 (7 points) Baltimore Manufacturing had a Work in Process balance of $95,000 on January 1, 2018. The year end balance of Work in Process was $53,000 and the Cost of Goods Manufactured was $510,000. Use this information to determine the total manufacturing costs incurred during the fiscal year 2018. (Round dollar values & enter as whole dollars only.) Your Answer: Question 2 options: Answer
Question'7 The following financial information is for Annapolis Corporation are for the fiscal years ending 2019...
Question'7 The following financial information is for Annapolis Corporation are for the fiscal years ending 2019 & 2018 (all balances are normal): Item/Account 2019 2018 Accounts Receivable $36,000 $32,000 Inventor 42,000 38,000 Net Sales (all credit) 390,000 350,000 Cost of Goods Sold 154,000 152,000 Net Income 27.200 24,800 Use this information to determine the accounts receivable average collection period for FY 2019. (Use 365 day vear. Round your answers to one decimal place.) Question S8 Towson Manufacturing had a Work...
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Baltimore Manufacturing had a Work in Process balance of $62,000 on January 1, 2018. The year...
Baltimore Manufacturing had a Work in Process balance of $62,000 on January 1, 2018. The year end balance of Work in Process was $72,000 and the Cost of Goods Manufactured was $790,000. Use this information to determine the total manufacturing costs incurred during the fiscal year 2018. (Round dollar values & enter as whole dollars only.)
Baltimore Manufacturing had a Work in Process balance of $85,000 on January 1, 2018. The year...
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Question'7 The following financial information is for Annapolis Corporation are for the fiscal years ending 2019 & 2018 (all balances are normal): Item/Account 2019 2018 Accounts Receivable $36,000 $32,000 Inventor 42,000 38,000 Net Sales (all credit) 390,000 350,000 Cost of Goods Sold 154,000 152,000 Net Income 27.200 24,800 Use this information to determine the accounts receivable average collection period for FY 2019. (Use 365 day vear. Round your answers to one decimal place.) Question S8 Towson Manufacturing had a Work...
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