Homework Answers
Option c : 39.37
Weeks of Supply = On Hand Inventory / Average Weekly Units Sold.
On Hand Inventory = Raw Material + Work in Process + Finished Goods Inventory = $150,000 +$50,000 $330,000 = $530,000.
Average Weekly units sold = Cost of Goods Sold / 52 Weeks = $700,000 / 52 = 13,461.54.
Weeks of Supply = $530,000 / 13,461.54 = 39.37.
Note : Please comment down for any further clarifications.
Add Answer to:
The following data are pulled from a recent Walsh Manufacturing annual report. Assets Raw material inventory...
The following data are pulled from a recent Walsh Manufacturing annual report. Assets Raw material inventory ...
The following data are pulled from a recent Walsh Manufacturing annual report. Assets Raw material inventory $130,000 Work-in-process inventory $60,000 Finished goods inventory $310,000 Property, plant & equipment $500,000 Other assets $200,000 Total assets $1,200,000 Condensed Income Statement Revenue $2,000,000 Cost of goods sold $600,000 Other expenses $1,000,000 Net income $400,000 Calculate: (a) Percent invested in inventory (b) Inventory turnover (c) Weeks of supply. Please provide detail work on each calculation.
Roprin Corp. accounting records reflect the following inventories: Raw material inventory for Dec 31, 2007 $260,000...
Roprin Corp. accounting records reflect the following inventories: Raw material inventory for Dec 31, 2007 $260,000 Raw material inventory for Dec 31, 2008 $310,000 WIP Inventory for Dec 31, 2007 $160,000 WIP Inventory for Dec 31, 2008 $300,000 Finished Goods inventory for Dec 31, 2007 $150,000 Finished Goods inventory for Dec 31, 2008 $190,000 During 2008, $500,000 of raw materials were purchased, direct labor costs amounted to $600,000, and manufacturing overhead incurred was $480,000. The total raw materials available for...
The following data refer to Superior Metals Corporation for the year 20x4. Raw-material inventory Purchases of...
The following data refer to Superior Metals Corporation for the year 20x4. Raw-material inventory Purchases of raw material in Raw-material inventory $ 89,000 732,000 59,000 474,000 268,000 150,000 90,000 125,000 23,000 45,000 60,000 41,000 71,000 0 42,000 34,000 40,000 577,500 2,105,000 12/31/x3 20x4 12/31/x4 Direct-labor cost incurred Selling and administrative expenses Indirect labor cost incurred Property taxes on factory Depreciation on factory building Income tax expense Indirect material used Depreciation on factory equipment Insurance on factory and equipment Utilities for...
The following data refer to Superior Metals Corporation for the year 20x4 Raw-material inventory Purchases of...
The following data refer to Superior Metals Corporation for the year 20x4 Raw-material inventory Purchases of raw material in Raw-material inventory $ 89,000 12/31/x3 20x4 12/31/x4 732,000 59,000 474,000 268,000 150,000 90,000 125,000 23,000 45,000 60,000 Direct-labor cost incurred Selling and administrative expenses Indirect labor cost incurred Property taxes on factory Depreciation on factory building Income tax expense Indirect material used Depreciation on factory equipment Insurance on factory and 41,000 71,000 0 equipment Utilities for factory Work-in-process inventory 12/31/x3 12/31/x4...
The following data refer to Superior Metals Corporation for the year 20x4 Raw-material inventory Purchases of...
The following data refer to Superior Metals Corporation for the year 20x4 Raw-material inventory Purchases of raw material in Raw-material inventory $ 89,000 732,000 59,000 474,000 268,000 150,000 90,000 125,000 23,000 45,000 60,000 41,000 71,000 0 42,000 34,000 40,000 577,500 2,105,000 12/31/x3 20x4 12/31/x4 Direct-labor cost incurred Selling and administrative expenses Indirect labor cost incurred Property taxes on factory Depreciation on factory building Income tax expense Indirect material used Depreciation on factory equipment Insurance on factory and equipment Utilities for...
Balance Sheets Liabilities R.A Ltd. A.R Ltd. Assets R.A Ltd. A.R Ltd. Share Capital £ 600,000...
Balance Sheets Liabilities R.A Ltd. A.R Ltd. Assets R.A Ltd. A.R Ltd. Share Capital £ 600,000 £ 800,000 Land and Building £ 500,000 £ 800,000 Reseve and Surplus £ 150,000 £ 350,000 Plant and Machinery £ 300,000 £ 700,000 14% Debentures £ 400,000 £ 1,000,000 Furniture £ 200,000 £ 400,000 Mortgaged Loan £ 100,000 £ 500,000 Office Equipments £ 110,000 £ 230,000 Sundry Creditors £ 200,000 £ 300,000 Stock £ 300,000 £ 500,000 Bills Payable £ 100,000 £ 250,000 Sundry...
Question 6 (2 points) Carly Manufacturing Company's accounting records reflect the following amounts: Raw Materials Inventory,...
Question 6 (2 points) Carly Manufacturing Company's accounting records reflect the following amounts: Raw Materials Inventory, Jan 1, 2008 - $260,000 Raw Materials Inventory, Dec 31, 2008 - $310,000 Work in Process Inventory, Jan 1, 2008 - $160,000 Work in Process Inventory, Dec 31, 2008 - $300,000 Finished Goods Inventory, Jan 1, 2008 - $150,000 Finished Goods Inventory, Dec 31, 2008 - $190,000 Raw materials purchased during 2008 - $500,000 Direct labor costs during 2008 - $600,000 Manufacturing overhead incurred...
The Statement of Cash Flows 215 Problem 14 sed balance sheets of the Spartan Inn are...
The Statement of Cash Flows 215 Problem 14 sed balance sheets of the Spartan Inn are as follows: The condensed bala Spartan Inn Condensed Balance Sheets December 31, 20X1 and 20X2 20X1 Assets Current Assets: 20X2 Cash $ $ Marketable Securities Accounts Receivable Inventory Total Current Assets Investments Property and Equipment: 30,000 50,000 100,000 20,000 200,000 100,000 40,000 50,000 95,000 25,000 210,000 60,000 500,000 5,000,000 1,000,000 (1,600,000) 4,900,000 $5,200,000 500,000 6,000,000 1,100,000 (2,000,000) 5,600,000 $5,870,000 Land Building Equipment Accumulated Depreciation...
Based on the Income Statement and Balance Sheet for the XYZ Corporation (see below): a) ...
Based on the Income Statement and Balance Sheet for the XYZ Corporation (see below): a) create the Pro Forma statement for 2018 given the following assumptions: - sales increase by 20% - all items vary directly with sales (except for Notes Payable, LTD, Owners Equity) - the company is currently operating at 100% capacity - the dividend payout ratio stays at 50% Income Statement 2017 Pro Forma 2018 Sales $3,000,000 Cost of Goods Sold 2,000,000 Depreciation 300,000 EBIT...
Required information [The following information applies to the questions displayed below.] The following data refer to...
Required information [The following information applies to the questions displayed below.] The following data refer to San Fernando Fashions Company for the year 20x2: Sales revenue $ 1,050,000 Work-in-process inventory, December 31 30,000 Work-in-process inventory, January 1 32,000 Selling and administrative expenses 150,000 Income tax expense 80,000 Purchases of raw material 160,000 Raw-material inventory, December 31 25,000 Raw-material inventory, January 1 40,000 Direct labor 180,000 Utilities: plant 40,000 Depreciation: plant and equipment 40,000 Finished-goods inventory, December 31 50,000 Finished-goods inventory,...
The following data refer to Superior Metals Corporation for the year 20x4. Raw-material inventory Purchases of raw material in Raw-material inventory $ 89,000 732,000 59,000 474,000 268,000 150,000 90,000 125,000 23,000 45,000 60,000 41,000 71,000 0 42,000 34,000 40,000 577,500 2,105,000 12/31/x3 20x4 12/31/x4 Direct-labor cost incurred Selling and administrative expenses Indirect labor cost incurred Property taxes on factory Depreciation on factory building Income tax expense Indirect material used Depreciation on factory equipment Insurance on factory and equipment Utilities for...
The following data refer to Superior Metals Corporation for the year 20x4 Raw-material inventory Purchases of raw material in Raw-material inventory $ 89,000 12/31/x3 20x4 12/31/x4 732,000 59,000 474,000 268,000 150,000 90,000 125,000 23,000 45,000 60,000 Direct-labor cost incurred Selling and administrative expenses Indirect labor cost incurred Property taxes on factory Depreciation on factory building Income tax expense Indirect material used Depreciation on factory equipment Insurance on factory and 41,000 71,000 0 equipment Utilities for factory Work-in-process inventory 12/31/x3 12/31/x4...
The following data refer to Superior Metals Corporation for the year 20x4 Raw-material inventory Purchases of raw material in Raw-material inventory $ 89,000 732,000 59,000 474,000 268,000 150,000 90,000 125,000 23,000 45,000 60,000 41,000 71,000 0 42,000 34,000 40,000 577,500 2,105,000 12/31/x3 20x4 12/31/x4 Direct-labor cost incurred Selling and administrative expenses Indirect labor cost incurred Property taxes on factory Depreciation on factory building Income tax expense Indirect material used Depreciation on factory equipment Insurance on factory and equipment Utilities for...
Question 6 (2 points) Carly Manufacturing Company's accounting records reflect the following amounts: Raw Materials Inventory, Jan 1, 2008 - $260,000 Raw Materials Inventory, Dec 31, 2008 - $310,000 Work in Process Inventory, Jan 1, 2008 - $160,000 Work in Process Inventory, Dec 31, 2008 - $300,000 Finished Goods Inventory, Jan 1, 2008 - $150,000 Finished Goods Inventory, Dec 31, 2008 - $190,000 Raw materials purchased during 2008 - $500,000 Direct labor costs during 2008 - $600,000 Manufacturing overhead incurred...
The Statement of Cash Flows 215 Problem 14 sed balance sheets of the Spartan Inn are as follows: The condensed bala Spartan Inn Condensed Balance Sheets December 31, 20X1 and 20X2 20X1 Assets Current Assets: 20X2 Cash $ $ Marketable Securities Accounts Receivable Inventory Total Current Assets Investments Property and Equipment: 30,000 50,000 100,000 20,000 200,000 100,000 40,000 50,000 95,000 25,000 210,000 60,000 500,000 5,000,000 1,000,000 (1,600,000) 4,900,000 $5,200,000 500,000 6,000,000 1,100,000 (2,000,000) 5,600,000 $5,870,000 Land Building Equipment Accumulated Depreciation...
Most questions answered within 3 hours.
-
Assume Kw = 1.01 ✕ 10−14
For pure water, we can calculate [H3O+ ] = [OH...
asked 2 minutes ago -
Suppose that on a temperature scale X, water boils at 203.0°X
and freezes at -105.7°X. What...
asked 51 minutes ago -
BaS crystallizes in a cubic unit cell with S2- ions on each
corner and each face....
asked 1 hour ago -
A. 0≤P(Oi)≤10≤P(Oi)≤1 for each i
B. P(Oi)≤0P(Oi)≤0
C. P(Oi)=1+P(OCi)P(Oi)=1+P(OiC)
D. P(Oi)≥1P(Oi)≥1
If an experiment consists of...
asked 2 hours ago -
A battery has an emf of 9.20V and an internal resistance of 1.20
ohm. a)What resistance...
asked 2 hours ago -
The area of an elastic circular loop decreases at a constant
rate, dA/dt = −6.60×10−3 m2/s...
asked 4 hours ago -
The denaturation of proteins can be described by the
equilibrium
F⇌U
where F and U represent...
asked 5 hours ago -
Please answer what the maximum and minimum force is, and the
angle on the ion is...
asked 5 hours ago -
implement a program that reads a number of rows and a symbol.
The program will draw...
asked 5 hours ago -
Assume that when adults with smartphones are randomly selected,
45% use them in meetings or classes....
asked 5 hours ago -
Determine the number of formula units of
Na2SO4 and moles of oxygen contained in 8.11
moles...
asked 5 hours ago -
Explain in steps on the following code
What would be the output when executed
using System;...
asked 6 hours ago