Homework Answers
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30. Cost of Goods Sold = 992,000-369,200 = 622,800 |
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31. Operating income = Gross Profit 369,200 - 295,200 = 74,000 |
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32. Gross profit = 758,300-444,300 = 314,000 |
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33. Operating income = 314,000-176,500 = 137,500 |
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34. Net sales = 365,000+298,000 = 663,000 |
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35. Operating expenses = 298,000 - 88,700 = 209,300 |
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Use the following to answer questions 30-35 Find the missing amounts: Case 1 5992.000 300 COGS...
Use the following to answer questions 30 - 35 Find the missing amounts: Case 3 Case...
Use the following to answer questions 30 - 35 Find the missing amounts: Case 3 Case 1 $992,000 Net Sales COGS Gross profit Operating expense Operating income Case 2 $758,300 444,300 ? 176,500 365,000 298,000 369,200 295,200 88,700 30.$__ For case 1, determine cost of goods sold For case 1, determine operating income (include "if needed) For case 2, determine gross profit For case 2, determine operating income (include "_" if needed) 34. $ For case 3, determine net sales...
Page 4 of 5 - ZOOM + Use the following to answer questions 30-35 Find the...
Page 4 of 5 - ZOOM + Use the following to answer questions 30-35 Find the missing amounts: Case 3 Case 1 $992,000 Case 2 $758,300 444,300 Net Sales COGS Gross profit Operating expense Operating income 365,000 298,000 369,200 295,200 176,500 88,700 _For case 1, determine cost of goods sold For case 1, determine operating income include " if needed) For case 2, determine gross profit _For case 2, determine operating income (include "-"if needed) For case 3, determine net...
Please show work! thank you Use the following to answer questions 22-29 GHT Corporation reports the...
Please show work! thank you
Use the following to answer questions 22-29 GHT Corporation reports the following amounts in its December 31, 20XD income statement: Cost of goods sold Sales discounts Salaries expense Interest expense $425,000 12,000 285,000 3,000 Net sales Advertising expense Utilities expense Effective income tax rate $875,000 95,000 7,500 20% Determine Sales _Determine gross profit _Determine operating expenses Determine Income before income taxes (IBT) Determine Income tax expense _Determine net income _ _% Calculate gross profit ratio...
Use the following to answer questions 30 - 35 Find the missing amounts: Case 3 Case...
Use the following to answer questions 30 - 35 Find the missing amounts: Case 3 Case 1 $992,000 Case 2 $758,300 444,300 Net Sales COGS Gross profit Operating expense Operating income 365,000 298,000 369,200 295,200 176,500 88,700 30. $ For case 1, determine cost of goods sold 31. $ For case 1, determine operating income include "if needed) 32. $ For case 2, determine gross profit 33. $ For case 2, determine operating income include "-" if needed) 34. $...
36. Inventory records for DAD Incorporated revealed the following: Date Apr. 1 Transaction Beginning inventory Purchase...
36. Inventory records for DAD Incorporated revealed the following: Date Apr. 1 Transaction Beginning inventory Purchase Number of Units 50 450 Unit Cost $123.00 $130.00 Apr. 4 DAD sold 490 units of inventory during the month. Ending Inventory assuming LIFO would be $_ Chapter 6 Page 6-4 37. Inventory records for MOM Company revealed the following: Date Mar. 1 Mar. 6 Mar. 16 Mar 22 Transaction Beginning inventory Purchase Purchase Purba Purchase Number of Units 400 1,000 1,000 1,000 Unit...
36. Inventory records for DAD Incorporated revealed the following: Date Apr. 1 Apr.4 Transaction Beginning inventory...
36. Inventory records for DAD Incorporated revealed the following: Date Apr. 1 Apr.4 Transaction Beginning inventory Purchase Number of Units 50 450 Unit Cost $123.00 $130.00 DAD sold 490 units of inventory during the month. Ending inventory assuming LIFO would be s 37. Inventory records for MOM Company revealed the following: Date Mar. 1 Mar. 6 Mar. 16 Mar. 23 Transaction Beginning inventory Purchase Purchase Purchase Number of Units 400 1,000 1,000 1,000 Unit Cost $70.00 $70.20 $71.00 $71.10 MOM...
37. Inventory records for MOM Company revealed the following Number Date Mar. 1 Mar. 6 Mar....
37. Inventory records for MOM Company revealed the following Number Date Mar. 1 Mar. 6 Mar. 16 Mar. 23 Transaction Beginning inventory Purchase Purchase Purchase Unit Cost $70.00 $70.20 $71.00 1.000 1,000 1,000 $71.10 MOM sold 3.300 units of inventory during the month Ending inventory assuming UFO would be s 38. Inventory records for STC Company revealed the following: Number of Units Date Mar. 1 Mar. 3 Mar. 23 Transaction Beginning inventory Purchase Purchase Unit cost $25.00 $25.25 $26.00 800...
Determine the missing amounts in each of the following independent cases. Case A Case B Case...
Determine the missing amounts in each of the following independent cases. Case A Case B Case C Beginning inventory, raw material $20,000 $15,000 Ending inventory, raw material 90,000 30,000 Purchases of raw material 100,000 85,000 Direct material 70,000 95,000 Direct labor 100,000 125,000 Manufacturing overhead 250,000 160,000 Total manufacturing costs 520,000 345,000 340,000 Beginning inventory, work in process 35,000 20,000 Ending inventory, work in process 35,000 5,000 Cost of goods manufactured 525,000 350,000 Beginning inventory, finished goods 50,000 40,000 Cost...
Determine the missing amounts in each of the following independent cases. Case A Case B 92,000...
Determine the missing amounts in each of the following independent cases. Case A Case B 92,000 Case C 6,000 31,000 196,000 280,000 220,000 271,000 317,000 380,000 580,000 1,120,000 86,000 70,500 96,000 207,000 1,115,000 76,000 121,000 Beginning inventory, raw material Ending inventory, raw material Purchases of raw material Direct material used Direct labor Manufacturing overhead Total manufacturing costs Beginning inventory, work in process Ending inventory, work in process Cost of goods manufactured Beginning inventory, finished goods Cost of goods available for...
Determine the missing amounts in each of the following independent cases. Case A Case B 78,000...
Determine the missing amounts in each of the following independent cases. Case A Case B 78,000 Case C 12,000 24,000 264,000 189,000 245,000 185,000 400,000 545,000 1,085,000 79,000 303,000 345,000 67,000 89,000 215,000 1,080,000 69,000 114,000 3,400 220,000 Beginning inventory, raw material Ending inventory, raw material Purchases of raw material Direct material used Direct labor Manufacturing overhead Total manufacturing costs Beginning inventory, work in process Ending inventory, work in process Cost of goods manufactured Beginning inventory, finished goods Cost of...
Use the following to answer questions 30 - 35 Find the missing amounts: Case 3 Case 1 $992,000 Net Sales COGS Gross profit Operating expense Operating income Case 2 $758,300 444,300 ? 176,500 365,000 298,000 369,200 295,200 88,700 30.$__ For case 1, determine cost of goods sold For case 1, determine operating income (include "if needed) For case 2, determine gross profit For case 2, determine operating income (include "_" if needed) 34. $ For case 3, determine net sales...
Page 4 of 5 - ZOOM + Use the following to answer questions 30-35 Find the missing amounts: Case 3 Case 1 $992,000 Case 2 $758,300 444,300 Net Sales COGS Gross profit Operating expense Operating income 365,000 298,000 369,200 295,200 176,500 88,700 _For case 1, determine cost of goods sold For case 1, determine operating income include " if needed) For case 2, determine gross profit _For case 2, determine operating income (include "-"if needed) For case 3, determine net...
Please show work! thank you
Use the following to answer questions 22-29 GHT Corporation reports the following amounts in its December 31, 20XD income statement: Cost of goods sold Sales discounts Salaries expense Interest expense $425,000 12,000 285,000 3,000 Net sales Advertising expense Utilities expense Effective income tax rate $875,000 95,000 7,500 20% Determine Sales _Determine gross profit _Determine operating expenses Determine Income before income taxes (IBT) Determine Income tax expense _Determine net income _ _% Calculate gross profit ratio...
Use the following to answer questions 30 - 35 Find the missing amounts: Case 3 Case 1 $992,000 Case 2 $758,300 444,300 Net Sales COGS Gross profit Operating expense Operating income 365,000 298,000 369,200 295,200 176,500 88,700 30. $ For case 1, determine cost of goods sold 31. $ For case 1, determine operating income include "if needed) 32. $ For case 2, determine gross profit 33. $ For case 2, determine operating income include "-" if needed) 34. $...
36. Inventory records for DAD Incorporated revealed the following: Date Apr. 1 Transaction Beginning inventory Purchase Number of Units 50 450 Unit Cost $123.00 $130.00 Apr. 4 DAD sold 490 units of inventory during the month. Ending Inventory assuming LIFO would be $_ Chapter 6 Page 6-4 37. Inventory records for MOM Company revealed the following: Date Mar. 1 Mar. 6 Mar. 16 Mar 22 Transaction Beginning inventory Purchase Purchase Purba Purchase Number of Units 400 1,000 1,000 1,000 Unit...
36. Inventory records for DAD Incorporated revealed the following: Date Apr. 1 Apr.4 Transaction Beginning inventory Purchase Number of Units 50 450 Unit Cost $123.00 $130.00 DAD sold 490 units of inventory during the month. Ending inventory assuming LIFO would be s 37. Inventory records for MOM Company revealed the following: Date Mar. 1 Mar. 6 Mar. 16 Mar. 23 Transaction Beginning inventory Purchase Purchase Purchase Number of Units 400 1,000 1,000 1,000 Unit Cost $70.00 $70.20 $71.00 $71.10 MOM...
37. Inventory records for MOM Company revealed the following Number Date Mar. 1 Mar. 6 Mar. 16 Mar. 23 Transaction Beginning inventory Purchase Purchase Purchase Unit Cost $70.00 $70.20 $71.00 1.000 1,000 1,000 $71.10 MOM sold 3.300 units of inventory during the month Ending inventory assuming UFO would be s 38. Inventory records for STC Company revealed the following: Number of Units Date Mar. 1 Mar. 3 Mar. 23 Transaction Beginning inventory Purchase Purchase Unit cost $25.00 $25.25 $26.00 800...
Determine the missing amounts in each of the following independent cases. Case A Case B 92,000 Case C 6,000 31,000 196,000 280,000 220,000 271,000 317,000 380,000 580,000 1,120,000 86,000 70,500 96,000 207,000 1,115,000 76,000 121,000 Beginning inventory, raw material Ending inventory, raw material Purchases of raw material Direct material used Direct labor Manufacturing overhead Total manufacturing costs Beginning inventory, work in process Ending inventory, work in process Cost of goods manufactured Beginning inventory, finished goods Cost of goods available for...
Determine the missing amounts in each of the following independent cases. Case A Case B 78,000 Case C 12,000 24,000 264,000 189,000 245,000 185,000 400,000 545,000 1,085,000 79,000 303,000 345,000 67,000 89,000 215,000 1,080,000 69,000 114,000 3,400 220,000 Beginning inventory, raw material Ending inventory, raw material Purchases of raw material Direct material used Direct labor Manufacturing overhead Total manufacturing costs Beginning inventory, work in process Ending inventory, work in process Cost of goods manufactured Beginning inventory, finished goods Cost of...
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