Homework Answers
| Amount in $ | ||
| Sales | 451,000 | |
| Less: Cost of goods Sold | 302,000 | |
| Gross Margin | 149,000 | |
| Correct answer is option 2 (i.e. $ 149,000 ). | ||
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Question 5 What is the gross margin for 2015? Beginning finished good, 1/1/2015 Ending finished goods,...
What is the gross margin for 2015? Beginning finished good, 1/1/2015 Ending finished goods, 12/31/2015 Cost...
What is the gross margin for 2015? Beginning finished good, 1/1/2015 Ending finished goods, 12/31/2015 Cost of goods sold Sales revenue Operating expenses $49,000 $156,000 $142,000 $149,000 $82,000 75,000 302,000 451,000 100,000
What is the cost of goods manufactured for 2015? Beginring finished good, 1/1/2015 Ending finished goods,...
What is the cost of goods manufactured for 2015? Beginring finished good, 1/1/2015 Ending finished goods, 12/31/2015 Cost of goods sold Sales revenue Operating expenses $373,000 $258,000 $277,000 5239,000 $51,000 32,000 258,000 488,000 115,000 A Moving to the next question prevents changes to this answer.
Moving to another question will save this response. Question 2 What is the operating income for...
Moving to another question will save this response. Question 2 What is the operating income for 2015? $86,000 74,000 307,000 454,000 101,000 Beginning finished good, 1/1/2015 Ending finished goods, 12/31/2015 Cost of goods sold Sales revenue Operating expenses $34,000 $46,000 $58,000 $73,000 L A Moving to another question will save this response.
Answer options for question 4. Beginning work in process, cost of goods manufactured, direct materials, direct...
Answer options for question
4. Beginning work in process, cost of goods manufactured, direct
materials, direct wages, ending work in process.
5. Beginning finished goods inventory, cost of good avaliable
for sale, cost of goods manufactured, cost of goods sold, ending
finished goods inventory.
6. Administrative expenses, cost of goods sold, gross margin,
operating income, sales, selling expenses.
Cost Assignment Methods Brody Company makes industrial cleaning solvents. Various chemicals, detergent, and water are mixed together and then bottled in 10-gallon...
Leslie Manufacturing reported the following Revenue $450,000 Beginning inventory of direct materials, January 1, 2015 20,000...
Leslie Manufacturing reported the following Revenue $450,000 Beginning inventory of direct materials, January 1, 2015 20,000 Purchases of direct materials 156,000 Ending inventory of direct materials, December 31,2015 18,000 Direct manufacturing labor 21,000 Indirect manufacturing costs 42,000 Beginning inventory of finished goods, January 1, 2015 40,000 Cost of goods manufactured 114,000 Ending inventory of finished goods, December 31, 2015 45,000 Operating costs 150,000 What is Leslie's Operating Income?
Question 2 Determine the effect on cost of goods sold, total assets, and gross margin for...
Question 2 Determine the effect on cost of goods sold, total assets, and gross margin for 2015 and 2016 if the following inventory errors are not corrected. Indicate your answer with (+) for overstated, (-) for understated, and (0) for no effect. Beginning inventory for 2015 is understated. Ending inventory for 2015 is understated. Cost of Goods Sold Effect in 2015 on Total Assets Gross Margin Cost of Goods Sold Gross Margin Effect in 2016 on Total Assets
Leslie Manufacturing reported the following: Revenue Beginning inventory of direct materials, January 1, 2015 Purchases of...
Leslie Manufacturing reported the following: Revenue Beginning inventory of direct materials, January 1, 2015 Purchases of direct materials Ending inventory of direct materials, December 31, 2015 Direct manufacturing labor Indirect manufacturing costs Beginning inventory of finished goods, January 1, 2015 Cost of goods manufactured Ending inventory of finished goods, December 31, 2015 Operating costs $460,000 23,000 15,400 10,000 29,000 49,000 48,000 106,400 46,000 153,000 What is Leslie's operating income? $333,800 $193,900 $209,900 $191,900
During April, the Meade Enterprises had the following operating results Sales revenue Gross margin Ending work-in-process...
During April, the Meade Enterprises had the following operating results Sales revenue Gross margin Ending work-in-process inventory Beginning work-in-process inventory Ending finished goods inventory Beginning finished goods inventory Marketing costs Administrative costs $ 1,690,000 $ 695,000 $ 59,500 $ 99,000 $ 109,500 $ 144,000 $ 269,000 $ 169,000 What is the cost of goods manufactured for April? O $995,000 $960,500 $1,029,500 $1,000,000 ©2020 McGraw-Hill Educa During April, the Meade Enterprises na U Why upurung Sales revenue Gross margin Ending work-in-process...
If net operating income was $50,000 Then the beginning finished goods inventory was howmuch? Use the...
If net operating income was $50,000
Then the beginning finished goods inventory was howmuch?
Use the following to answer the next two questions The Argyle Company has provided the following data for the month of November: Inventories November / November 30 Direct materials $15,000 Work in process .......... 12,000 10,000 Finished goods 7,000 $? Additional Data: Sales revenue $100,000 Direct labor costs 8,000 Manufacturing overhead costs ......... 10,000 Selling expenses .. 12,000 Administrative expenses .................. 13,000 Cost of goods manufactured...
240 points Using the following data Garcon Company $13.800 17.900 10 100 34.000 Beginning finished goods...
240 points Using the following data Garcon Company $13.800 17.900 10 100 34.000 Beginning finished goods inventory Beginning work in process inventory Beginning raw materials inventory Rental cost on factory equipment Direct labor Ending finished goods inventory Ending work in process inventory Ending raw materials inventory Factory utilities Factory supplies used General and administrative expenses Indirect labor Repairs Factory equipment Raw materials purchases Selling expenses 19,700 25 900 8.000 12.900 8.500 33.000 2.250 6.260 42.000 53.600 205,530 27.000 257 500...
What is the gross margin for 2015? Beginning finished good, 1/1/2015 Ending finished goods, 12/31/2015 Cost of goods sold Sales revenue Operating expenses $49,000 $156,000 $142,000 $149,000 $82,000 75,000 302,000 451,000 100,000
What is the cost of goods manufactured for 2015? Beginring finished good, 1/1/2015 Ending finished goods, 12/31/2015 Cost of goods sold Sales revenue Operating expenses $373,000 $258,000 $277,000 5239,000 $51,000 32,000 258,000 488,000 115,000 A Moving to the next question prevents changes to this answer.
Moving to another question will save this response. Question 2 What is the operating income for 2015? $86,000 74,000 307,000 454,000 101,000 Beginning finished good, 1/1/2015 Ending finished goods, 12/31/2015 Cost of goods sold Sales revenue Operating expenses $34,000 $46,000 $58,000 $73,000 L A Moving to another question will save this response.
Answer options for question
4. Beginning work in process, cost of goods manufactured, direct
materials, direct wages, ending work in process.
5. Beginning finished goods inventory, cost of good avaliable
for sale, cost of goods manufactured, cost of goods sold, ending
finished goods inventory.
6. Administrative expenses, cost of goods sold, gross margin,
operating income, sales, selling expenses.
Cost Assignment Methods Brody Company makes industrial cleaning solvents. Various chemicals, detergent, and water are mixed together and then bottled in 10-gallon...
Question 2 Determine the effect on cost of goods sold, total assets, and gross margin for 2015 and 2016 if the following inventory errors are not corrected. Indicate your answer with (+) for overstated, (-) for understated, and (0) for no effect. Beginning inventory for 2015 is understated. Ending inventory for 2015 is understated. Cost of Goods Sold Effect in 2015 on Total Assets Gross Margin Cost of Goods Sold Gross Margin Effect in 2016 on Total Assets
Leslie Manufacturing reported the following: Revenue Beginning inventory of direct materials, January 1, 2015 Purchases of direct materials Ending inventory of direct materials, December 31, 2015 Direct manufacturing labor Indirect manufacturing costs Beginning inventory of finished goods, January 1, 2015 Cost of goods manufactured Ending inventory of finished goods, December 31, 2015 Operating costs $460,000 23,000 15,400 10,000 29,000 49,000 48,000 106,400 46,000 153,000 What is Leslie's operating income? $333,800 $193,900 $209,900 $191,900
During April, the Meade Enterprises had the following operating results Sales revenue Gross margin Ending work-in-process inventory Beginning work-in-process inventory Ending finished goods inventory Beginning finished goods inventory Marketing costs Administrative costs $ 1,690,000 $ 695,000 $ 59,500 $ 99,000 $ 109,500 $ 144,000 $ 269,000 $ 169,000 What is the cost of goods manufactured for April? O $995,000 $960,500 $1,029,500 $1,000,000 ©2020 McGraw-Hill Educa During April, the Meade Enterprises na U Why upurung Sales revenue Gross margin Ending work-in-process...
If net operating income was $50,000
Then the beginning finished goods inventory was howmuch?
Use the following to answer the next two questions The Argyle Company has provided the following data for the month of November: Inventories November / November 30 Direct materials $15,000 Work in process .......... 12,000 10,000 Finished goods 7,000 $? Additional Data: Sales revenue $100,000 Direct labor costs 8,000 Manufacturing overhead costs ......... 10,000 Selling expenses .. 12,000 Administrative expenses .................. 13,000 Cost of goods manufactured...
240 points Using the following data Garcon Company $13.800 17.900 10 100 34.000 Beginning finished goods inventory Beginning work in process inventory Beginning raw materials inventory Rental cost on factory equipment Direct labor Ending finished goods inventory Ending work in process inventory Ending raw materials inventory Factory utilities Factory supplies used General and administrative expenses Indirect labor Repairs Factory equipment Raw materials purchases Selling expenses 19,700 25 900 8.000 12.900 8.500 33.000 2.250 6.260 42.000 53.600 205,530 27.000 257 500...
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