Homework Answers
| Req 1. | |||||||||
| Number of units sold: | |||||||||
| Beginning Inventory of FG: | 6800 | ||||||||
| Add: Production units | 94000 | ||||||||
| Total units | 100800 | ||||||||
| Less: Ending inventory of FG | 7200 | ||||||||
| Number of units sold: | 93600 | ||||||||
| Req 2. | |||||||||
| Cost of Good ssold: | |||||||||
| Number of units sold | 93600 | ||||||||
| Multiply: cost per unit | 2200 | ||||||||
| Cost of Goods sold | 205920000 | ||||||||
| Q6. | |||||||||
| Answer is a. Increases as a output increases and decreases as output decreases. | |||||||||
| Explanation: | |||||||||
| The variable cost per unit remain constant and with the change in level of output it changes in direct proportion. | |||||||||
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Exercise 2-36 Cost of Goods Sold Allyson Ashley makes jet skis. During the year, Allyson manufactured...
Cost of Goods Sold Allyson Ashley makes jet skis. During the year, Allyson manufactured 99,500 jet...
Cost of Goods Sold Allyson Ashley makes jet skis. During the year, Allyson manufactured 99,500 jet skis. Finished goods inventory had the following units: January 1 in December 31 o Required: 1. How many jet skis did Allyson sell during the year? units 2. If each jet ski had a product cost of $2,200, what was the cost of goods sold last year? Check My Work < Previous Next > All work saved Save and Exit Submit Assignment for Grading...
OBJECTIVE2 Exercise 2-31 Cost Classification Loring Company incurred the following costs last year: Sua Direct materials...
OBJECTIVE2 Exercise 2-31 Cost Classification Loring Company incurred the following costs last year: Sua Direct materials Factory rent Direct labor Factory utilities Supervision in the factory Indirect labor in the factory Depreciation on factory equipment Sales commissions Sales salaries Advertising Depreciation on the headquarters building Salary of the corporate receptionist Other administrative costs Salary of the factory receptionist S216,000 24,000 120,000 6,300 50,000 30,000 9,000 27,000 65,000 37,000 10,000 30,000 175,000 28,000 (Continued) Required: 1. Classify each of the costs...
Required information Exercise 2-29 Schedules of Cost of Goods Manufactured and Sold Income Statement (LO 2-1,...
Required information Exercise 2-29 Schedules of Cost of Goods Manufactured and Sold Income Statement (LO 2-1, 2-3, 2-6) [The following information applies to the questions displayed below.] Alexandria Aluminum Company, a manufacturer of recyclable soda cans, had the following inventory balances at the beginning and end of 20x1 Inventory Classification Raw material Work in process Finished goods January 1, 20x1 $ 65, 000 120,000 170,000 December 31, 20x1 $ 70,000 115,000 165,000 During 20x1, the company purchased $240,000 of raw...
Exercise 5 (Cost of goods manufactured and sold) Compute cost of goods manufactured and cost of...
Exercise 5 (Cost of goods manufactured and sold) Compute cost of goods manufactured and cost of goods sold from the following account balances relating to 20X1 (in thousands): Property tax on plant building Marketing, distribution, and customer- service costs37,000 Finished goods inventory, January 1, 20X1 Plant utilities Work in process inventory December 31, 20X1 Depreciation of plant building P 3,000 27,000 17,000 26,000 9,000 We were unable to transcribe this image
BRIEF EXERCISE 2-6 Prepare Schedules of Cost of Goods Manufactured and Cost of Goods Sold (LO6)...
BRIEF EXERCISE 2-6 Prepare Schedules of Cost of Goods Manufactured and Cost of Goods Sold (LO6) Parmitan Corporation has provided the following data concemning last month'smanufacturing openation Purchases of raw materials Direct labor erials incluced in $8,000 . ........$41,000 $8,000 Manufacturing overhead applied to work in process Underapplied overhead . . . . Beginning Ending Inventories $24,000 $6,000 $38,000 Raw materials . Work in process Finished goods . $86,000 $93.000 Required I. Prepare a Schedule of Cost of Goods Manufactured....
please help filling in the blanks I need to put in formula the percentage January 1...
please help filling in the blanks
I need to put in formula the percentage
January 1 December 31 6,800 7,200 Required: How many jet skis did Allyson sell during the year? If each jet ski had a product cost of $2,200, what was the cost of goods sold last year? To the following information for Exercises 2-37 and 2-38: In March, Chilton Company purchased materials costing $25,000 and incurred direct labor cost of $10,000. Overhead totaled $42,000 for the month....
Exercise 2-29 Schedules of Cost of Goods Manufactured and Sold; Income Statement (LO 2-1, 2-3, 2-6)...
Exercise 2-29 Schedules of Cost of Goods Manufactured and Sold;
Income Statement (LO 2-1, 2-3, 2-6)
[The following information applies to the questions
displayed below.]
Alexandria Aluminum Company, a manufacturer of recyclable soda
cans, had the following inventory balances at the beginning and end
of 20x1.
Inventory Classification
January 1, 20x1
December 31, 20x1
Raw material
$
55,000
$
70,000
Work in process
120,000
115,000
Finished goods
150,000
165,000
During 20x1, the company purchased $250,000 of raw material and
spent...
Required information Exercise 2-28 Schedules of Cost of Goods Manufactured and Sold; Income Statement (LO 2-1,...
Required information Exercise 2-28 Schedules of Cost of Goods Manufactured and Sold; Income Statement (LO 2-1, 2-3, 2-6) [The following information applies to the questions displayed below.j Alhambra Aluminum Company, a manufacturer of recyclable soda cans, had the following inventory balances at the beginning and end of 20x1 December 31 20x1 $ 70,000 Inventory January 1, 20x1 Classification Raw material Work in process 60,000 20,000 115,000 Finished goods 140,000 165,000 During 20x1, the company purchased $240,000 of raw material and...
15 Requirements: Prepare the schedule of cost of goods manufactured and cost of goods sold. Data:...
15 Requirements: Prepare the schedule of cost of goods manufactured and cost of goods sold. Data: Raw Materials Inventory, Jan. 1 $10 Raw Materials Inventory, Dec. 31 Work-in-Process Inventory, Jan. 1 Work-in-Process Inventory, Dec. 31 Finished Goods Inventory, Jan. 1 Finished Goods Inventory, Dec. 31 Raw Materials Purchased, incl. freight 30 Direct Labor 40 Manufacturing (factory) Overhead Schedule of Costs of Goods Manufactured Year Ended December 31, 2018 Beginning Work-in-Process Direct Materials Used: Beginning Raw Materials Inventory Purchased of Raw...
Required information Exercise 2-28 Schedules of Cost of Goods Manufactured and Sold; Income Statement (LO 2-1,...
Required information Exercise 2-28 Schedules of Cost of Goods Manufactured and Sold; Income Statement (LO 2-1, 2-3, 2-6) [The following information applies to the questions displayed below.] Alhambra Aluminum Company, a manufacturer of recyclable soda cans, had the following inventory balances at the beginning and end of 20x1 Inventory Raw material Work in process Finished goods January 1, 20x1 60,000 120,000 140,000 December 31, 20x1 70,000 115,000 165,000 Classification During 20x1, the company purchased $240,000 of raw material and spent...
Cost of Goods Sold Allyson Ashley makes jet skis. During the year, Allyson manufactured 99,500 jet skis. Finished goods inventory had the following units: January 1 in December 31 o Required: 1. How many jet skis did Allyson sell during the year? units 2. If each jet ski had a product cost of $2,200, what was the cost of goods sold last year? Check My Work < Previous Next > All work saved Save and Exit Submit Assignment for Grading...
OBJECTIVE2 Exercise 2-31 Cost Classification Loring Company incurred the following costs last year: Sua Direct materials Factory rent Direct labor Factory utilities Supervision in the factory Indirect labor in the factory Depreciation on factory equipment Sales commissions Sales salaries Advertising Depreciation on the headquarters building Salary of the corporate receptionist Other administrative costs Salary of the factory receptionist S216,000 24,000 120,000 6,300 50,000 30,000 9,000 27,000 65,000 37,000 10,000 30,000 175,000 28,000 (Continued) Required: 1. Classify each of the costs...
Required information Exercise 2-29 Schedules of Cost of Goods Manufactured and Sold Income Statement (LO 2-1, 2-3, 2-6) [The following information applies to the questions displayed below.] Alexandria Aluminum Company, a manufacturer of recyclable soda cans, had the following inventory balances at the beginning and end of 20x1 Inventory Classification Raw material Work in process Finished goods January 1, 20x1 $ 65, 000 120,000 170,000 December 31, 20x1 $ 70,000 115,000 165,000 During 20x1, the company purchased $240,000 of raw...
Exercise 5 (Cost of goods manufactured and sold) Compute cost of goods manufactured and cost of goods sold from the following account balances relating to 20X1 (in thousands): Property tax on plant building Marketing, distribution, and customer- service costs37,000 Finished goods inventory, January 1, 20X1 Plant utilities Work in process inventory December 31, 20X1 Depreciation of plant building P 3,000 27,000 17,000 26,000 9,000 We were unable to transcribe this image
BRIEF EXERCISE 2-6 Prepare Schedules of Cost of Goods Manufactured and Cost of Goods Sold (LO6) Parmitan Corporation has provided the following data concemning last month'smanufacturing openation Purchases of raw materials Direct labor erials incluced in $8,000 . ........$41,000 $8,000 Manufacturing overhead applied to work in process Underapplied overhead . . . . Beginning Ending Inventories $24,000 $6,000 $38,000 Raw materials . Work in process Finished goods . $86,000 $93.000 Required I. Prepare a Schedule of Cost of Goods Manufactured....
please help filling in the blanks
I need to put in formula the percentage
January 1 December 31 6,800 7,200 Required: How many jet skis did Allyson sell during the year? If each jet ski had a product cost of $2,200, what was the cost of goods sold last year? To the following information for Exercises 2-37 and 2-38: In March, Chilton Company purchased materials costing $25,000 and incurred direct labor cost of $10,000. Overhead totaled $42,000 for the month....
Exercise 2-29 Schedules of Cost of Goods Manufactured and Sold;
Income Statement (LO 2-1, 2-3, 2-6)
[The following information applies to the questions
displayed below.]
Alexandria Aluminum Company, a manufacturer of recyclable soda
cans, had the following inventory balances at the beginning and end
of 20x1.
Inventory Classification
January 1, 20x1
December 31, 20x1
Raw material
$
55,000
$
70,000
Work in process
120,000
115,000
Finished goods
150,000
165,000
During 20x1, the company purchased $250,000 of raw material and
spent...
Required information Exercise 2-28 Schedules of Cost of Goods Manufactured and Sold; Income Statement (LO 2-1, 2-3, 2-6) [The following information applies to the questions displayed below.j Alhambra Aluminum Company, a manufacturer of recyclable soda cans, had the following inventory balances at the beginning and end of 20x1 December 31 20x1 $ 70,000 Inventory January 1, 20x1 Classification Raw material Work in process 60,000 20,000 115,000 Finished goods 140,000 165,000 During 20x1, the company purchased $240,000 of raw material and...
15 Requirements: Prepare the schedule of cost of goods manufactured and cost of goods sold. Data: Raw Materials Inventory, Jan. 1 $10 Raw Materials Inventory, Dec. 31 Work-in-Process Inventory, Jan. 1 Work-in-Process Inventory, Dec. 31 Finished Goods Inventory, Jan. 1 Finished Goods Inventory, Dec. 31 Raw Materials Purchased, incl. freight 30 Direct Labor 40 Manufacturing (factory) Overhead Schedule of Costs of Goods Manufactured Year Ended December 31, 2018 Beginning Work-in-Process Direct Materials Used: Beginning Raw Materials Inventory Purchased of Raw...
Required information Exercise 2-28 Schedules of Cost of Goods Manufactured and Sold; Income Statement (LO 2-1, 2-3, 2-6) [The following information applies to the questions displayed below.] Alhambra Aluminum Company, a manufacturer of recyclable soda cans, had the following inventory balances at the beginning and end of 20x1 Inventory Raw material Work in process Finished goods January 1, 20x1 60,000 120,000 140,000 December 31, 20x1 70,000 115,000 165,000 Classification During 20x1, the company purchased $240,000 of raw material and spent...
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