Homework Answers
| Income Statement | ||||
| Revenues: | Amount | Amount | ||
| Sales Revenue | $ 4,700 | |||
| Total Revenue (A) | $ 4,700 | |||
| Expenses: | ||||
| Beginning Raw Materials inventory | $ 280 | |||
| Add: Purchase of Direct Materials | $ 440 | |||
| Less: Ending Raw Materials inventory | $ 230 | |||
| Cost of Goods Sold | $ 490 | |||
| Direct Labour | $ 520 | |||
| Manufacturing Overhead | $ 640 | |||
| Operating Expenses | $ 730 | |||
| Add: Beginning Work in Process inventory | $ 320 | |||
| Less: Ending Work in process inventory | $ -430 | |||
| Add: Beginning Finished Goods inventory | $ 330 | |||
| Less: Ending Finished Goods inventory | $ -260 | |||
| Total Expenses (B) | $ 2,340 | |||
| Operating Income (A-B) | $ 2,360 | |||
| Answer = Option D = $ 2,360 | ||||
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This Question: 2 pts 3 of 5 (2 complete) This Quiz: 10 pts poss Selected financial...
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Selected financial information for Brookeville Manufacturing is presented in the following table (000s omitted). Sales revenue...
Selected financial information for Brookeville Manufacturing is presented in the following table (000s omitted). Sales revenue $ 4,000 Purchases of direct materials $ 400 Direct labor $ 450 Manufacturing overhead $ 620 Operating expenses $ 650 Beginning raw materials inventory $ 200 Ending raw materials inventory $ 180 Beginning work in process inventory $ 320 Ending work in process inventory $ 410 Beginning finished goods inventory $ 250 Ending finished goods inventory $ 200 What was cost of goods manufactured?
Selected financial information for Brookeville Manufacturing is presented in the following table (000s omitted). $5,000 Sales...
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Selected financial information for Greek Food Producers is presented in the following table (000s omitted). Beginning...
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Selected financial information for the Company is presented in the following table (000s omitted). Sales revenue...
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10. Selected financial information for Brookeville Manufacturing for the years of 2014 and 2015 are presented...
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Selected financial information for Greek Food Producers is presented in the following table (000s omitted). Beginning...
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Sales revenue Purchases of direct materials Direct labor Manufacturing overhead Operating expenses Beginning raw materials inventory...
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Quiz: CH 3 Quiz :00 42 31 Submt Ou Sof 20 (4 complete) This Quiz: 20...
Quiz: CH 3 Quiz :00 42 31 Submt Ou Sof 20 (4 complete) This Quiz: 20 pts poss Here are selected data for King Friday Corporation: Beginning raw materiais inventory Beginning finished goods inventory Cost of direct materiais requisitioned Actual manufacturing overheacd Cost of goods soid $37.000 Beginning work in process inventory $57 200Cost of matenais purchased $01.300Direct labor incurred $180.000Cost of goods manufactured $255 000 Manufacturng overead rate (% of direct tabor) $81.500 $151,000 $125,000 $287.000 125% What is...
Challenge Tennis & Recreation's operating activities for the year are listed below. Purchases $174 comma 500...
Challenge Tennis & Recreation's operating activities for
the year are listed below.
Purchases
$174 comma 500174,500
Operating expenses
62 comma 70062,700
Beginning inventory
27 comma 80027,800
Ending inventory
37 comma 40037,400
Sales revenue
333 comma 500333,500
What is the cost of goods sold for the year?
Chicago Steel's operating activities for the year are listed below. Beginning inventory $1,000,500 Ending inventory $350,300 Purchases $750,700 Sales revenue $1,500,000 Operating expenses $701,000 What is the cost of goods sold for the year?...
Selected financial information for Brookeville Manufacturing is presented in the following table (000s omitted). Sales revenue Purchases of direct materials Direct labor Manufacturing overhead Operating expenses Beginning raw materials inventory Ending raw materials inventory Beginning work in process inventory Ending work in process inventory Beginning finished goods inventory Ending finished goods inventory $5,000 S450 $540 S630 $690 $200 S190 $400 $430 $290 $270 What was cost of goods sold? OA. OB. OC. OD. $1,650 $890 $1,620 $1,580
Selected financial information for Brookeville Manufacturing is presented in the following table (000s omitted). $5,000 Sales revenue Purchases of direct materials Direct labor Manufacturing overhead Beginning raw materials inventory Ending raw materials inventory Beginning work in process inventory Ending work in process inventory Beginning finished goods inventory Ending finished goods inventory $480 $690 $670 $300 $260 $340 $440 $290 $210 What was the cost of goods manufactured? O A. $1,540 O B. $1,530 OC. $1,740 O D. $1,640
Selected financial information for Greek Food Producers is presented in the following table (000s omitted). Beginning raw materials inventory Ending raw materials inventory Direct labor Operating expenses Purchases of direct materials Beginning work in process inventory Ending work in process inventory Sales revenue $490 $240 $290 $710 $550 $410 $640 $4900 Manufacturing overhead Beginning finished goods inventory Ending finished goods inventory What was cost of goods manufactured? $1790 $730 $280 $320 $1140 $2090 $1590
Selected financial information for the Company is presented in the following table (000s omitted). Sales revenue $4200 Purchases of direct materials $480 Direct labor $500 Manufacturing overhead $700 Operating expenses $680 Beginning raw materials inventory $290 Ending raw materials inventory $200 Beginning work in process inventory $410 Ending work in process inventory $460 Beginning finished goods inventory $340 Ending finished goods inventory $300 What was cost of goods sold? $960 $1790 $1680 O $1760
10. Selected financial information for Brookeville Manufacturing for the years of 2014 and 2015 are presented in the following table (000s omitted). Sales revenue 4,000 Purchases of direct materials 400 Direct labor 450 Manufacturing overhead 620 Operating expenses 650 Raw materials inventory, Dec 31, 2014 200 Raw materials inventory, Dec 31, 2015 180 Work in process inventory, Dec 31, 2014 320 Work in process inventory. Dec 31, 2015 410 Finished goods inventory, Dec 31, 2014 250 Finished goods inventory, Dec...
Selected financial information for Greek Food Producers is presented in the following table (000s omitted). Beginning raw materials inventory Ending raw materials inventory Direct labor Operating expenses Purchases of direct materials Beginning work in process inventory Ending work in process inventory Sales revenue Manufacturing overhead Beginning finished goods inventory Ending finished goods inventory What was operating income? $4500 $2360 $3740 $2960 $310 $240 $340 $690 $410 $380 $600 $4500 $820 $290 $260
Sales revenue Purchases of direct materials Direct labor Manufacturing overhead Operating expenses Beginning raw materials inventory Ending raw materials inventory Beginning work in process inventory Ending work in process inventory Beginning finished goods inventory Ending finished goods inventory $4,300 $480 $520 $620 $730 $210 $220 $420 $490 $310 $200 What was the cost of direct materials used? O A. $690 OB. $480 OC. $470 OD. $430 Click to select your answer
Quiz: CH 3 Quiz :00 42 31 Submt Ou Sof 20 (4 complete) This Quiz: 20 pts poss Here are selected data for King Friday Corporation: Beginning raw materiais inventory Beginning finished goods inventory Cost of direct materiais requisitioned Actual manufacturing overheacd Cost of goods soid $37.000 Beginning work in process inventory $57 200Cost of matenais purchased $01.300Direct labor incurred $180.000Cost of goods manufactured $255 000 Manufacturng overead rate (% of direct tabor) $81.500 $151,000 $125,000 $287.000 125% What is...
Challenge Tennis & Recreation's operating activities for
the year are listed below.
Purchases
$174 comma 500174,500
Operating expenses
62 comma 70062,700
Beginning inventory
27 comma 80027,800
Ending inventory
37 comma 40037,400
Sales revenue
333 comma 500333,500
What is the cost of goods sold for the year?
Chicago Steel's operating activities for the year are listed below. Beginning inventory $1,000,500 Ending inventory $350,300 Purchases $750,700 Sales revenue $1,500,000 Operating expenses $701,000 What is the cost of goods sold for the year?...
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