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SECTION B (40 marks) Answer ALL questions from this section. Question 1 (10 marks) Liverpool Company...
Dave's Donuts has the following data available for inventory, purchases, and sales for a recent year:...
Dave's Donuts has the following data available for inventory, purchases, and sales for a recent year: Date Activity Units Purchase per (per unit) Sales price (per unit) Jan. 1 Beginning inventory 13,000 $75 Jan. 22 Purchase 8,500 $77 Apr. 21 Sale 15,000 $148 Apr. 27 Purchase 9,250 $79 Aug. 15 Sale 9,000 $148 Oct. 1 Purchase 11,250 $78.50 Nov. 19 Sale 8,650 $148 Compute cost of goods sold and the cost of ending inventory on December 31 assuming the company...
part A and B , thank you ! Part I (12 marks) Ripken Company uses a...
part A and B , thank you !
Part I (12 marks) Ripken Company uses a perpetual inventory system and reported the following transactions involving inventory during the month of April 2019: April 1 Beginning inventory 4 Purchases 30 Sales 70 units 30 units 90 units @S150 @ 5160 @ $200 Required: (Show all calculations) a. Calculate the cost of Goods Sold on April 30, 2019 for Ripken Company using the following cost flow assumptions: (1) Weighted Average Cost method...
Lower-of-Cost-or-Market Inventory On the basis of the following data, determine the value of the inventory at...
Lower-of-Cost-or-Market Inventory On the basis of the following data, determine the value of the inventory at the lower of cost or market. Assemble the data in the form illustrated in Exhibit 9. Inventory Item Inventory Quantity Cost per Unit Market Value per Unit (Net Realizable Value) Birch $68 Cypress Mountain Ash Spruce 149 256 Willow Inventory at the Lower of Cost or Market Total Lower of C or M Inventory Item Birch Total Cost Total Market S Cypress Mountain Ash...
MUST SHOW ALL CELL FORMULAS Required: You need to prepare a comprehensive 12-month budget, including supporting...
MUST SHOW ALL CELL FORMULAS
Required: You need to prepare a comprehensive
12-month budget, including supporting schedules and a report for
the period January 1, 2020 to December 31, 2020 for Hedron,
Inc.
INFORMATION FOR HEDRON, INC.
Hedron, Inc. is a company that re-sells one product, a
particularly comfortable lawn chair. An overseas contractor makes
the product exclusively for Hedron, so Hedron has no manufacturing
related costs.
PRODUCT COSTS
In Nov of 2019, each lawn chair costs
Hedron $4 per...
SECTION B (30 Marks) Answer ALL questions. QUESTION 1 The following information relates to Rocko Bhd....
SECTION B (30 Marks) Answer ALL questions. QUESTION 1 The following information relates to Rocko Bhd. for the year ended 31 Dec 2020 was extracted from the company's records : Sales Depreciation - Office Equipment Utilities Factory Rental Prime Cost Direct Materials purchases Direct Materials, 1/1/20 Finished Goods, 1/1/20 Work in Process, 1/1/20 Direct Materials, 31/12/20 Work in Process, 31/12/20 Conversion Cost Cost of Goods Sold Depreciation - Plant Equipment Indirect labour Direct labour Factory supervisor's salary Property taxes -...
SECTION A (40 marks): Answer ALL Questions in this section. QUESTION ONE a) Aseda Ltd incurred...
SECTION A (40 marks): Answer ALL Questions in this section. QUESTION ONE a) Aseda Ltd incurred the following cost in its manufacturing operations GH¢ Cost of material purchase 20,000 Import duties 400 Trade discount @10% of purchase cost Cash discount 500 Irrecoverable taxes 1,000 Salary of factory plant operator 2,500 Direct labour 5,000 Salary of factory supervisor 4,000 Cost of expected production losses 800 Administrative overhead (Note) 16,000 Cost of storage of raw material for further processing 2,000 Marketing cost...
pt1 pt2 pt.3 Exercise 6-4A Part 1 Required: 1. Using FIFO, calculate ending inventory, cost of...
pt1
pt2
pt.3
Exercise 6-4A Part 1 Required: 1. Using FIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. FIFO Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory # of units Cost per Cost of Goods Available for Sale Cost per unit # of units Cost of Goods Sold unit # of units Cost Ending per unit Inventory Beginning Inventory Purchases: Apr. 7 Jul. 16 Oct.6 Total ES Sales revenue Gross profit...
Question 4 (10 marks) You will have the responsibility to become an expert on one inventory...
Question 4 (10 marks) You will have the responsibility to become an expert on one inventory methods (Weighted Average Costing) under the perpetual method. Using the following data, you must show and illustrates the relevant concepts and procedures for your inventory method. You must write the illustration in a format that is clear and understandable with all the steps and details. Data: The company uses a perpetual inventory system. It had the following beginning inventory and current year purchases of...
marks) QUESTION 5 Kegin Company sells many products. Whamo is one of its popular items. Below...
marks) QUESTION 5 Kegin Company sells many products. Whamo is one of its popular items. Below is an analysis of the inventory purchases and sales of Whamo for the month of March. Kegin Company uses the perpetual inventory system. Purchases Sales Units Unit Cost Units Selling Price Unit 3/1 Beginning inventory 100 RM40 3/3 Purchase 60 RM50 3/4 Sales 70 RM80 3/10 Purchase 200 RM55 3/16 Sales 80 RM90 3/19 Sales 60 RM90 3/25 Sales 70 RM90 3/30 Purchase 40...
Financial Statements Analysis Online Assignment Question #3 Dockers Inc. beginning inventory and purchases during the year...
Financial Statements Analysis Online Assignment Question #3 Dockers Inc. beginning inventory and purchases during the year ended December 31, 2019 were as follows: Total Cost $ 50,000 Date Inventory: January 1 Purchases: March 10 August 30 November 26 Sales: June 25 October 5 December 31 Units Unit Cost 1000 units @ $50.00 1200 units @ $52.50 800 units @ $55.00 2000 units @ $56.00 800 units 1500 units 1000 units 44,000 112,000 Required: a) Determine the cost of inventory on...
part A and B , thank you !
Part I (12 marks) Ripken Company uses a perpetual inventory system and reported the following transactions involving inventory during the month of April 2019: April 1 Beginning inventory 4 Purchases 30 Sales 70 units 30 units 90 units @S150 @ 5160 @ $200 Required: (Show all calculations) a. Calculate the cost of Goods Sold on April 30, 2019 for Ripken Company using the following cost flow assumptions: (1) Weighted Average Cost method...
Lower-of-Cost-or-Market Inventory On the basis of the following data, determine the value of the inventory at the lower of cost or market. Assemble the data in the form illustrated in Exhibit 9. Inventory Item Inventory Quantity Cost per Unit Market Value per Unit (Net Realizable Value) Birch $68 Cypress Mountain Ash Spruce 149 256 Willow Inventory at the Lower of Cost or Market Total Lower of C or M Inventory Item Birch Total Cost Total Market S Cypress Mountain Ash...
MUST SHOW ALL CELL FORMULAS
Required: You need to prepare a comprehensive
12-month budget, including supporting schedules and a report for
the period January 1, 2020 to December 31, 2020 for Hedron,
Inc.
INFORMATION FOR HEDRON, INC.
Hedron, Inc. is a company that re-sells one product, a
particularly comfortable lawn chair. An overseas contractor makes
the product exclusively for Hedron, so Hedron has no manufacturing
related costs.
PRODUCT COSTS
In Nov of 2019, each lawn chair costs
Hedron $4 per...
SECTION B (30 Marks) Answer ALL questions. QUESTION 1 The following information relates to Rocko Bhd. for the year ended 31 Dec 2020 was extracted from the company's records : Sales Depreciation - Office Equipment Utilities Factory Rental Prime Cost Direct Materials purchases Direct Materials, 1/1/20 Finished Goods, 1/1/20 Work in Process, 1/1/20 Direct Materials, 31/12/20 Work in Process, 31/12/20 Conversion Cost Cost of Goods Sold Depreciation - Plant Equipment Indirect labour Direct labour Factory supervisor's salary Property taxes -...
SECTION A (40 marks): Answer ALL Questions in this section. QUESTION ONE a) Aseda Ltd incurred the following cost in its manufacturing operations GH¢ Cost of material purchase 20,000 Import duties 400 Trade discount @10% of purchase cost Cash discount 500 Irrecoverable taxes 1,000 Salary of factory plant operator 2,500 Direct labour 5,000 Salary of factory supervisor 4,000 Cost of expected production losses 800 Administrative overhead (Note) 16,000 Cost of storage of raw material for further processing 2,000 Marketing cost...
pt1
pt2
pt.3
Exercise 6-4A Part 1 Required: 1. Using FIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. FIFO Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory # of units Cost per Cost of Goods Available for Sale Cost per unit # of units Cost of Goods Sold unit # of units Cost Ending per unit Inventory Beginning Inventory Purchases: Apr. 7 Jul. 16 Oct.6 Total ES Sales revenue Gross profit...
Question 4 (10 marks) You will have the responsibility to become an expert on one inventory methods (Weighted Average Costing) under the perpetual method. Using the following data, you must show and illustrates the relevant concepts and procedures for your inventory method. You must write the illustration in a format that is clear and understandable with all the steps and details. Data: The company uses a perpetual inventory system. It had the following beginning inventory and current year purchases of...
marks) QUESTION 5 Kegin Company sells many products. Whamo is one of its popular items. Below is an analysis of the inventory purchases and sales of Whamo for the month of March. Kegin Company uses the perpetual inventory system. Purchases Sales Units Unit Cost Units Selling Price Unit 3/1 Beginning inventory 100 RM40 3/3 Purchase 60 RM50 3/4 Sales 70 RM80 3/10 Purchase 200 RM55 3/16 Sales 80 RM90 3/19 Sales 60 RM90 3/25 Sales 70 RM90 3/30 Purchase 40...
Financial Statements Analysis Online Assignment Question #3 Dockers Inc. beginning inventory and purchases during the year ended December 31, 2019 were as follows: Total Cost $ 50,000 Date Inventory: January 1 Purchases: March 10 August 30 November 26 Sales: June 25 October 5 December 31 Units Unit Cost 1000 units @ $50.00 1200 units @ $52.50 800 units @ $55.00 2000 units @ $56.00 800 units 1500 units 1000 units 44,000 112,000 Required: a) Determine the cost of inventory on...
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