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Part B: The Burdette Café's beginning and ending food inventory for 20X4 total $12,000 and $14,000,...
Maat! Poultry Seafood Produce Dn Produce Dry Storage Dairy' Bread Total 53,000 $650 5850 Beginning Inventory...
Maat! Poultry Seafood Produce Dn Produce Dry Storage Dairy' Bread Total 53,000 $650 5850 Beginning Inventory + Purchases = Goods available for sale $1,700 $20,700 $1,250 $10,500 $28.000 $5,400 59,000 (2) (3) 5450 $2,300 5220 53,000 $1,200 $15 (5) $20 (6) - Ending Inventory a bag of basial is used to make Infused water a bottle of chardonnay is used to make marinated chicken = Cost of goods consumed - Employee meals = Cost of goods sold (7) $1,000 (8)...
1. For Whitehair Company, beginning inventory is $12,000 and ending inventory is $15,000. Yearend account balances...
1.
For Whitehair Company, beginning inventory is $12,000 and ending
inventory is $15,000. Yearend account balances are:
Freight-In
$1,100
Purchases
50,000
Purchase Discounts
800
Purchase Returns and Allowances
1,250
Sales
Discounts
2,500
Sales
Returns and Allowances
3,600
Whitehair’s Cost of Goods Purchased is
2. In a period of inflation, which cost flow method produces the
highest net income?
For Whitehair Company, beginning inventory is $12,000 and ending inventory is $15,000. Yearend account balances are: $1,100 50,000 800 Freight-In Purchases Purchase...
schedule Problem 8 is an excellent food manager but needs your assistance in preparing the nent...
schedule Problem 8 is an excellent food manager but needs your assistance in preparing the nent schedule for 20X8 according to the USALI. Andrew Bromley is an exc food department sch $850,000 45,000 12,000 2,000 Revenue information: Venue food revenue Service charges Meeting room rentals Allowances Expense information: Food purchases Transfers from beverage department Cost of employee meals Complimentary food-marketing Transfers to beverage department Salaries (management) Wages (non-management) 300,000 500 10,000 1,000 300 70,000 200,000 3,000 25,000 128 Chapter 3...
Gene Washburn owns used and cost of food so Income Statement 169 Problem 2 hburn owns...
Gene Washburn owns used and cost of food so Income Statement 169 Problem 2 hburn owns the GW Cafe and needs assistance in determining both cost of food cost of food sold for June 20X6. He provides information as follows: Beginning food inventory $10,500 Food purchases 24,000 Cost of employee meals 500 Cost of promotional meals 300 Transfers from the beverage department 100 Transfers to the beverage department 150 Physical food inventory, end of June 20X6 8,400 Required: 1. Determine...
(2.- Problem 1 A restaurantskarted the month with a food inventory of $3,000 in the storeroom....
(2.- Problem 1 A restaurantskarted the month with a food inventory of $3,000 in the storeroom. Durin month food purchases totaling $9,000 were delivered to the storeroom and food to $8,000 was issued from the storeroom. What was the cost of food available for the mon som and food totaling Problem 2 The accounting records for a restaurant indicate that food sales were $18,000, food used was $5,800, and employee meals at cost were $50. What is the cost of...
PLZ TYPE THE ANSWER THANKS! Question 1 1 pts STD MENU ITEM # ITEM ITEM MENU...
PLZ TYPE THE ANSWER THANKS!
Question 1 1 pts STD MENU ITEM # ITEM ITEM MENU SOLD FOOD PRICE COSTS COST MENU REVENUES Cost % Spicy Chicken 120 $7.75 $12.5 Wings Column 1300 Totals $9,500 $21,000 Question 2 1 pts Food opening inventory $17,500 Food purchases $2,500 Food ending inventory $3,350 Cost of Goods Consumed Employee meals $250 Promotional food $125 Bar transfers $110 1. What is the actual cost of goods sold? 2. What is the actual food cost...
JUST FILL IN THE BLANK THANKS Question 1 1 pts STD MENU ITEM # ITEM ITEM...
JUST FILL IN THE BLANK THANKS
Question 1 1 pts STD MENU ITEM # ITEM ITEM MENU SOLD FOOD PRICE COSTS COST MENU REVENUES Cost % Spicy Chicken 120 $7.75 $12.5 Wings Column 1300 Totals $9,500 $21,000 Question 2 1 pts Food opening inventory $17,500 Food purchases $2,500 Food ending inventory $3,350 Cost of Goods Consumed Employee meals $250 Promotional food $125 Bar transfers $110 1. What is the actual cost of goods sold? 2. What is the actual food...
Lowe uses the conventional retail method to determine its ending inventory at cost. Assume the beginning...
Lowe uses the conventional retail method to determine its ending inventory at cost. Assume the beginning inventory at cost (retail) were $384000 ($588000), purchases during the current year at cost (retail) were $1935000 ($3180000), freight-in on these purchases totaled $123000, sales during the current year totaled $2880000, and net markups (markdowns) were $66000 ($102000). What is the ending inventory value at cost? Hint: Round intermediate calculation to 3 decimal places, e.g. 0.635 and final answer to 0 decimal places. 1....
BobCat reported total assets of $30,000 at the end of 2019 and net income of $12,000...
BobCat reported total assets of $30,000 at the end of 2019 and net income of $12,000 for 2019. BobCat's Beginning inventory (1/1/19) was overstated by $2,000. Ignore tax effect. What is the correct amount of total assets at the end of 2019 and net income for 2019? O A. 30,000; 12,000 O B. 28,000; 12,000 O C. 30,000; 14,000 O D. 28,000; 14,000 Pick true statement about the approximation of the current cost O A. LIFO ending inventory is at...
Information about Vinzant Company’s inventory of one item follows. Compute the cost of the ending inventory...
Information about Vinzant Company’s inventory of one item
follows.
Compute the cost of the ending inventory under the
average cost method.
Compute the cost of the ending inventory under the FIFO
method.
Compute the cost of the ending inventory under the LIFO
method.
Number of Unit Units Cost 135 $ 270 Explanation Beginning inventory, January 1 Purchases: April August October Ending inventory, December 31 175 195 145 135 275 280 282 Complete this question by entering your answers in the...
Maat! Poultry Seafood Produce Dn Produce Dry Storage Dairy' Bread Total 53,000 $650 5850 Beginning Inventory + Purchases = Goods available for sale $1,700 $20,700 $1,250 $10,500 $28.000 $5,400 59,000 (2) (3) 5450 $2,300 5220 53,000 $1,200 $15 (5) $20 (6) - Ending Inventory a bag of basial is used to make Infused water a bottle of chardonnay is used to make marinated chicken = Cost of goods consumed - Employee meals = Cost of goods sold (7) $1,000 (8)...
1.
For Whitehair Company, beginning inventory is $12,000 and ending
inventory is $15,000. Yearend account balances are:
Freight-In
$1,100
Purchases
50,000
Purchase Discounts
800
Purchase Returns and Allowances
1,250
Sales
Discounts
2,500
Sales
Returns and Allowances
3,600
Whitehair’s Cost of Goods Purchased is
2. In a period of inflation, which cost flow method produces the
highest net income?
For Whitehair Company, beginning inventory is $12,000 and ending inventory is $15,000. Yearend account balances are: $1,100 50,000 800 Freight-In Purchases Purchase...
schedule Problem 8 is an excellent food manager but needs your assistance in preparing the nent schedule for 20X8 according to the USALI. Andrew Bromley is an exc food department sch $850,000 45,000 12,000 2,000 Revenue information: Venue food revenue Service charges Meeting room rentals Allowances Expense information: Food purchases Transfers from beverage department Cost of employee meals Complimentary food-marketing Transfers to beverage department Salaries (management) Wages (non-management) 300,000 500 10,000 1,000 300 70,000 200,000 3,000 25,000 128 Chapter 3...
Gene Washburn owns used and cost of food so Income Statement 169 Problem 2 hburn owns the GW Cafe and needs assistance in determining both cost of food cost of food sold for June 20X6. He provides information as follows: Beginning food inventory $10,500 Food purchases 24,000 Cost of employee meals 500 Cost of promotional meals 300 Transfers from the beverage department 100 Transfers to the beverage department 150 Physical food inventory, end of June 20X6 8,400 Required: 1. Determine...
(2.- Problem 1 A restaurantskarted the month with a food inventory of $3,000 in the storeroom. Durin month food purchases totaling $9,000 were delivered to the storeroom and food to $8,000 was issued from the storeroom. What was the cost of food available for the mon som and food totaling Problem 2 The accounting records for a restaurant indicate that food sales were $18,000, food used was $5,800, and employee meals at cost were $50. What is the cost of...
PLZ TYPE THE ANSWER THANKS!
Question 1 1 pts STD MENU ITEM # ITEM ITEM MENU SOLD FOOD PRICE COSTS COST MENU REVENUES Cost % Spicy Chicken 120 $7.75 $12.5 Wings Column 1300 Totals $9,500 $21,000 Question 2 1 pts Food opening inventory $17,500 Food purchases $2,500 Food ending inventory $3,350 Cost of Goods Consumed Employee meals $250 Promotional food $125 Bar transfers $110 1. What is the actual cost of goods sold? 2. What is the actual food cost...
JUST FILL IN THE BLANK THANKS
Question 1 1 pts STD MENU ITEM # ITEM ITEM MENU SOLD FOOD PRICE COSTS COST MENU REVENUES Cost % Spicy Chicken 120 $7.75 $12.5 Wings Column 1300 Totals $9,500 $21,000 Question 2 1 pts Food opening inventory $17,500 Food purchases $2,500 Food ending inventory $3,350 Cost of Goods Consumed Employee meals $250 Promotional food $125 Bar transfers $110 1. What is the actual cost of goods sold? 2. What is the actual food...
BobCat reported total assets of $30,000 at the end of 2019 and net income of $12,000 for 2019. BobCat's Beginning inventory (1/1/19) was overstated by $2,000. Ignore tax effect. What is the correct amount of total assets at the end of 2019 and net income for 2019? O A. 30,000; 12,000 O B. 28,000; 12,000 O C. 30,000; 14,000 O D. 28,000; 14,000 Pick true statement about the approximation of the current cost O A. LIFO ending inventory is at...
Information about Vinzant Company’s inventory of one item
follows.
Compute the cost of the ending inventory under the
average cost method.
Compute the cost of the ending inventory under the FIFO
method.
Compute the cost of the ending inventory under the LIFO
method.
Number of Unit Units Cost 135 $ 270 Explanation Beginning inventory, January 1 Purchases: April August October Ending inventory, December 31 175 195 145 135 275 280 282 Complete this question by entering your answers in the...
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