Homework Answers
`Hey,
Note: If you have any queries related the answer please do comment. I would be very happy to resolve all your queries.
clc
clear all
close all
format long
TotalPurchased=[5;6;7];
Price=[5,10,15];
disp('Total expenditure is');
Price*TotalPurchased
Kindly revert for any queries
Thanks.
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1. A company purchased some material in January given in table below Material Jan (kg) 5...
Alpha Company purchased, on account, 3,500 pounds of raw materials at $10 per pound on January...
Alpha Company purchased, on account, 3,500 pounds of raw materials at $10 per pound on January 2, 2017. The production manager requisitioned and received 2,500 pounds of raw material into production on January 15. Use this information to prepare the General Journal entries (without explanation) for January 2 and January 15. If no entry is required then write "No Entry Required."
On January 2, 2018, Baltimore Company purchased 8,000 shares of the stock of Towson Company at...
On January 2, 2018, Baltimore Company purchased 8,000 shares of the stock of Towson Company at $15 per share. Baltimore did NOT obtain significant influence as the purchase represents a 5% ownership stake in Towson Company. On August 1, 2018, Towson Company paid cash dividends of $27,000. Baltimore Company intended this investment to a long-term investment. On December 31, 2018, Towson Company reported $65,000 of net income for FY 2018. Additionally, the current market price for Towson Company's stock increased...
Required information [The following information applies to the questions displayed below.) Ferris Company began January with...
Required information [The following information applies to the questions displayed below.) Ferris Company began January with 4,000 units of its principal product. The cost of each unit is $7. Merchandise transactions for the month of January are as follows: Purchases Unit Cost Date of Purchase Jan. 18 Jan. 18 Totals Units 3,000 4,000 7,000 Total Cost $24,000 36,000 60,000 * Includes purchase price and cost of freight Units Date of Sale Jan. 5 Jan. 12 Jan. 20 Total 2.000 1,000...
Required information The following information applies to the questions displayed below.] Ferris Company began January with...
Required information The following information applies to the questions displayed below.] Ferris Company began January with 8,000 units of its principal product. The cost of each unit is $6. Merchandise transactions for the month of January are as follows: Purchases Unit Cost* $ 7 Date of Purchase Jan. 10 Jan. 18 Totals Units 6,000 8,000 14,000 Total Cost $ 42,000 64,000 106,000 * Includes purchase price and cost of freight. Sales Date of Sale Jan. 5 Jan. 12 Jan. 20...
s) Surgical Products produce Calculate the material and iance should be computed for each type purchased....
s) Surgical Products produce Calculate the material and iance should be computed for each type purchased. 50. LO.3 (Incomplete data; variances; journal entries) Surgical Producte tex surgical gloves. Machines perform the majority of the processing for 1 gloves per hour. Each pair of gloves requires 0.85 square foot of latex standard price of $0.80 per square foot Machine operators are consideredd for 1,000 pairs of + of latex, which has a sidered direct labor od 300,000 pairs of gloves and...
Required information (The following information applies to the questions displayed below.) Ferris Company began January with...
Required information (The following information applies to the questions displayed below.) Ferris Company began January with 8,000 units of its principal product. The cost of each unit is $6. Merchandise transactions for the month of January are as follows: Purchases $ 7 Date of Purchase Jan. 10 Jan. 18 Totals 6,000 8,000 14,000 $ 42,000 64,000 106,000 * Includes purchase price and cost of freight. Sales Date of Sale Jan. 5 Jan. 12 Jan. 20 Total Units 4,000 2,000 4,000...
Practice Test 1) Using the information given below for a company that uses a perpetual inventory system, calculate...
Practice Test 1) Using the information given below for a company that uses a perpetual inventory system, calculate the ending inventory using weighted average. Units 100 40 Unit Cost S10 2 Beginning inventory Uan. 5 purchased Jan. 10 sold Jan. 15 purchased Jan. 25 sold 60 SO Cost of goods sold Units Unit cost Total Units Balance Unit cost Total Answer: Purchases Date Units Unit cost Total 1/1 1/5 11/10 1/15 1/25 2) Calculate the ending inventory using LIFO for...
Quiz System Dominicia Dunston: Attempt 1 Question 7 (8 points) Alpha Company purchased, on account, 3,500...
Quiz System Dominicia Dunston: Attempt 1 Question 7 (8 points) Alpha Company purchased, on account, 3,500 pounds of raw materials at $10 per pound on January 2, 2017. The production manager requisitioned and received 2,500 pounds of raw material into production on January 15. Use this information to prepare the General Journal entries (without explanation) for January 2 and January 15. If no entry is required then write "No Entry Required." General Journal Debit Credit Date Accounts Question 8 (8...
Required information [The following information applies to the questions displayed below.] Ferris Company began January with...
Required information [The following information applies to the questions displayed below.] Ferris Company began January with 7,000 units of its principal product. The cost of each unit is $7. Merchandise transactions for the month of January are as follows: Purchases Date of Purchase Units Unit Cost* Total Cost Jan. 10 6,000 $ 8 $ 48,000 Jan. 18 7,000 9 63,000 Totals 13,000 111,000 * Includes purchase price and cost of freight. Sales Date of Sale Units Jan. 5 3,000 Jan....
Required information (The following information applies to the questions displayed below.) Ferris Company began January with...
Required information (The following information applies to the questions displayed below.) Ferris Company began January with 8,000 units of its principal product. The cost of each unit is $6. Merchandise transactions for the month of January are as follows: Purchases Unit Cost $ 7 Date of Purchase Jan. 10 Jan. 18 Totals Units 6,000 8,000 14,000 Total Cost $ 42,000 64,000 106,000 * Includes purchase price and cost of freight. Sales Date of Sale Jan. 5 Jan. 12 Jan. 20...
Required information [The following information applies to the questions displayed below.) Ferris Company began January with 4,000 units of its principal product. The cost of each unit is $7. Merchandise transactions for the month of January are as follows: Purchases Unit Cost Date of Purchase Jan. 18 Jan. 18 Totals Units 3,000 4,000 7,000 Total Cost $24,000 36,000 60,000 * Includes purchase price and cost of freight Units Date of Sale Jan. 5 Jan. 12 Jan. 20 Total 2.000 1,000...
Required information The following information applies to the questions displayed below.] Ferris Company began January with 8,000 units of its principal product. The cost of each unit is $6. Merchandise transactions for the month of January are as follows: Purchases Unit Cost* $ 7 Date of Purchase Jan. 10 Jan. 18 Totals Units 6,000 8,000 14,000 Total Cost $ 42,000 64,000 106,000 * Includes purchase price and cost of freight. Sales Date of Sale Jan. 5 Jan. 12 Jan. 20...
s) Surgical Products produce Calculate the material and iance should be computed for each type purchased. 50. LO.3 (Incomplete data; variances; journal entries) Surgical Producte tex surgical gloves. Machines perform the majority of the processing for 1 gloves per hour. Each pair of gloves requires 0.85 square foot of latex standard price of $0.80 per square foot Machine operators are consideredd for 1,000 pairs of + of latex, which has a sidered direct labor od 300,000 pairs of gloves and...
Required information (The following information applies to the questions displayed below.) Ferris Company began January with 8,000 units of its principal product. The cost of each unit is $6. Merchandise transactions for the month of January are as follows: Purchases $ 7 Date of Purchase Jan. 10 Jan. 18 Totals 6,000 8,000 14,000 $ 42,000 64,000 106,000 * Includes purchase price and cost of freight. Sales Date of Sale Jan. 5 Jan. 12 Jan. 20 Total Units 4,000 2,000 4,000...
Practice Test 1) Using the information given below for a company that uses a perpetual inventory system, calculate the ending inventory using weighted average. Units 100 40 Unit Cost S10 2 Beginning inventory Uan. 5 purchased Jan. 10 sold Jan. 15 purchased Jan. 25 sold 60 SO Cost of goods sold Units Unit cost Total Units Balance Unit cost Total Answer: Purchases Date Units Unit cost Total 1/1 1/5 11/10 1/15 1/25 2) Calculate the ending inventory using LIFO for...
Quiz System Dominicia Dunston: Attempt 1 Question 7 (8 points) Alpha Company purchased, on account, 3,500 pounds of raw materials at $10 per pound on January 2, 2017. The production manager requisitioned and received 2,500 pounds of raw material into production on January 15. Use this information to prepare the General Journal entries (without explanation) for January 2 and January 15. If no entry is required then write "No Entry Required." General Journal Debit Credit Date Accounts Question 8 (8...
Required information (The following information applies to the questions displayed below.) Ferris Company began January with 8,000 units of its principal product. The cost of each unit is $6. Merchandise transactions for the month of January are as follows: Purchases Unit Cost $ 7 Date of Purchase Jan. 10 Jan. 18 Totals Units 6,000 8,000 14,000 Total Cost $ 42,000 64,000 106,000 * Includes purchase price and cost of freight. Sales Date of Sale Jan. 5 Jan. 12 Jan. 20...
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