Which of the following is an activity in the operations of a manufacturer, but not in the operations of a merchandising or service company?
Multiple Choice
Selling goods to consumers
Receiving cash
Selling goods to other firms
Buying raw materials
Option D
(Buying raw materials)
Manufacturer deals in the production whereas Merchandising and Service companies do not. So they don't deal with buying of the raw materials. Option D is the answer
Which of the following is an activity in the operations of a manufacturer, but not in...
Which of the following types of organizations purchases raw materials from suppliers and uses them to create a finished product? Multiple Choice Retailers Service companies Merchandising companies Manufecturing firms
The following information relates to the manufacturing operations of the JNR Printing Company for the year: Raw materials inventory Finished goods Beginning Ending $55,000 $58,000 66,000 58,000 The raw materials used in manufacturing during the year totaled $116,000. Raw materials purchased during the year amount to: Multiple Choice $119,000 $124.000. $113,000
Tevebaugh Corporation is a manufacturer that uses job-order costing. The company closes out any overapplied or underapplied overhead to Cost of Goods Sold at the end of the year. The company has supplied the following data for the just completed year. Beginning inventories: Finished goods $ 30,000 Estimated total manufacturing overhead at the beginning of the year $ 568,000 Estimated direct labor-hours at the beginning of the year 32,000 direct labor-hours Results of operations: $ 501,000 $ 683,000 33,000 direct...
Tevebaugh Corporation is a manufacturer that uses job-order costing. The company closes out any overapplied or underapplied overhead to Cost of Goods Sold at the end of the year. The company has supplied the following data for the just completed year: Beginning inventories: Finished goods $ 30,000 Estimated total manufacturing overhead at the beginning of the year $ 568,000 Estimated direct labor-hours at the beginning of the year 32,000 direct labor-hours Results of operations: Raw materials (all direct) requisitioned for...
Analyzing Activity in Inventory Accounts Selected data concerning operations of Cascade Manufacturing Company for the past fiscal year follow: Raw materials used $600,000 Total manufacturing costs charged to production during the year(includes raw materials, direct labor, and manufacturing overheadapplied at a rate of 60 percent of direct labor costs) 1,362,000 Cost of goods available for sale 1,507,000 Selling and general expenses 60,000 Inventories Beginning Ending Raw materials $70,000 $80,000 Work-in-process 85,000 30,000 Finished goods 90,000 110,000 Determine each of the...
Which one of the following is NOT an activity in the planning and control cycle? Multiple Choice Comparing actual to planned performance. Measuring performance. Raw materials are released to production far in advance of being needed to ensure no interruptions in work flows due to shortages of raw materials. Formulating long and short-term plans.
4.Assume that a company expects to produce 11,400, 12,400, and 14,400 units of finished goods in January, February, and March, respectively. Each unit of finished goods requires 3 pounds of raw material and each pound of raw material costs $4.50. The company always maintains an ending raw materials inventory equal to 20% of next month’s production needs. What is the amount of expected raw materials purchases for February? Multiple Choice $172,800 $134,400 $169,200 $122,520 1.Assume a company is preparing a...
A sporting goods manufacturer budgets production of 57.000 pairs of ski boots in the first quarter and 48,000 pairs in the second quarter of the upcoming year Each pair of boots require 2 kg of a key raw material The company aims to end each quarter with ending raw materials inventory equal to 25 % of the following quarter's material rieeds. Beginning inventory for this material is 28,500 kg and the cost per kg is $7. What is the budgeted...
Which of the following is reported as an investing activity in the statement of cash flows? Multiple Choice The receipt of dividend revenue. The payment of cash dividends. The sale of machinery. The payment of interest on bonds. A firm reported salaries expense of $244,000 for the current year. The beginning and ending balances in salaries payable were $42,000 and $12,000, respectively. What was the amount of cash paid for salaries? Multiple Choice $244,000. $274,000. $298,000. $214,000. Cash flows from...
Financing Activity on the Statement of Cash Flows Which of the following is a financing activity on the statement of cash flows? Multiple Choice When the company purchases equipment using cash. When the company lends money to another entity. O When the company sells an investment O When the company receives dividends. O O When the company receives cash from a bank loan.