Sapphire Aerospace operates 52 weeks per year, and its cost of goods sold last year was...
Sapphire Aerospace operates 52 weeks per year, and its cost of goods sold last year was $11,908,000. The firm carries eight items in inventory: four raw materials, two work-in-process items, and two finished goods. The following table shows last year's average inventory levels for these items, along with their unit values.
| Category | Part Number | Average Inventory Units | Value per unit |
| Raw materials | RM-1 | 22,000 | $1 |
| RM-2 | 5,000 | $5 | |
| RM-3 | 2,000 | $9 | |
| RM-4 | 800 | $10 | |
| Work-in-process | WIP-1 | 3,000 | $20 |
| WIP-2 | 4,000 | $24 | |
| Finished goods | FG-1 | 1,000 | $57 |
| FG-2 | 500 | $88 |
What is the average aggregate inventory value? (Enter your response as an integer.)
Homework Answers
| Category | Part Number | Average Inventory Units(A) | Value per unit(B) | Total Value(A*B) |
| Raw materials | RM-1 | 22,000 | 1 | 22000 |
| RM-2 | 5,000 | 5 | 25000 | |
| RM-3 | 2,000 | 9 | 18000 | |
| RM-4 | 800 | 10 | 8000 | |
| Work-in-process | WIP-1 | 3,000 | 20 | 60000 |
| WIP-2 | 4,000 | 24 | 96000 | |
| Finished goods | FG-1 | 1,000 | 57 | 57000 |
| FG-2 | 500 | 88 | 44000 | |
| Average aggregate inventory value | 330000 | |||
Please leave a like. Thank you.
Add Answer to:
Sapphire Aerospace operates 52 weeks per year, and its cost of
goods sold last year was...
6. Poor Professor Mullen (PPM), Inc. has $20,000 of ending finished goods (EI, FG) inventory as...
6. Poor Professor Mullen (PPM), Inc. has $20,000 of ending finished goods (EI, FG) inventory as of December 31, 2015. If beginning finished goods (BI, FG) inventory was $10,000 and cost of goods sold (CGS) was $40,000, how much would Poor Professor Mullen, Inc report for cost of goods manufactured (CGM) ? A) $45,000 B) $10,000 C) $50,000 D) $30,000 7. Lao Shu Mullen, Inc's accounting records reflect the following inventories: Jan 1, 2015 (BI) $120,000 156,000 150,000 Dec.31, 2015...
6. Poor Professor Mullen (PPM) Ine hae $20.000 of ending finished goods (EI, FG) inventory as...
6. Poor Professor Mullen (PPM) Ine hae $20.000 of ending finished goods (EI, FG) inventory as of December 31, 2015. If beginning finished coods (BIFG) inventory was $10,000 and cost of goods sold (CGS) was $40.000, how much would Poor Professor Mullen, Inc report for cost of goods manufactured (CGM)? A) $45,000 B) $10,000 C) $50,000 D) $30,000 7. Lao Shu Mullen, Ine's accounting records reflect the following inventories: -_Jan 1. 2015 (BI) Dec.31. 2015 (ET) Raw materials inventory (RM)...
4) In the Schedule of Cost of Goods Manufactured and Cost of Goods Sold, the cost...
4) In the Schedule of Cost of Goods Manufactured and Cost of Goods Sold, the cost of goods manufactured is computed according to which of the following equations? A) Cost of goods manufactured = Total manufacturing costs + Ending work in process inventory - Beginning work in process inventory B) Cost of goods manufactured = Total manufacturing costs + Beginning work in process inventory - Ending work in process inventory C) Cost of goods manufactured = Total manufacturing costs +...
Required information Problem 16-1A Production cost flow and measurement; journal entries LO P1, P2, P3, P4...
Required information Problem 16-1A Production cost flow and measurement; journal entries LO P1, P2, P3, P4 [The following information applies to the questions displayed below) Sierra Company manufactures soccer balls in two sequential processes: Cutting and Stitching. All direct materials enter production at the beginning of the Cutting process. The following information is available regarding its May inventories: Raw materials inventory Work in process inventory-Cutting Work in process inventory Stitching Finished goods inventory Beginning Inventory $ 96,000 223,500 243,300 56,100...
Exercise 3-3 Schedules of Cost of Goods Manufactured and Cost of Goods Sold [LO3-3] Primare Corporation...
Exercise 3-3 Schedules of Cost of Goods Manufactured and Cost of Goods Sold [LO3-3] Primare Corporation has provided the following data concerning last month's manufacturing operations. Purchases of raw materials Indirect materials included in manufacturing overhead Direct labor Manufacturing overhead applied to work in process Under applied overhead $30,000 $ 4,800 $59,500 $88, 400 $ 4.050 Inventories Raw materials Vork in process Finished goods Beginning $ 10.200 $ 54,200 $ 33,800 Ending $ 19.700 $ 66.800 $43.600 Required: 1. Prepare...
Please show the computation to obtain the answers. 12. Required information [The following information applies to...
Please show the computation to obtain the
answers.
12. Required information [The following information applies to the questions displayed below.) Part 1 of 2 0.58 points Sierra Company manufactures soccer balls in two sequential processes: Cutting and Stitching. All direct materials enter production at the beginning of the Cutting process. The following information is available regarding its May inventories: Beginning Ending Inventory Inventory $ 76,000 $ 91,750 183,500 130,500 Raw materials inventory Work in process inventory- Cutting Work in process...
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...
prepare the schedule of cost of goods manufactured and cost of goods sold. Raw Materials Inventory...
prepare the schedule of cost of goods manufactured and cost of goods sold. Raw Materials Inventory Jan 1 $10 Raw Materials Inventory Inventory Dec 31 4 Work In Process Inventory Jan 1 15 Work In Process Inventory Dec 31 22 Finished Goods Inventory Jan 1 11 Finished Goods Inventory Dec 31 14 Raw Materials Purchased incl freight 30 Direct Labor 40 Manufacturing Overhead 30
Help Required information (The following information applies to the questions displayed below.) Sierra Company manufactures woven...
Help Required information (The following information applies to the questions displayed below.) Sierra Company manufactures woven blankets and accounts for product costs using process costing. Data below are for one of its processing departments. The following information is available regarding its May inventories Raw materials inventory Work in process inventory Finished goods inventory Beginning Inventory $ 54,000 430,500 633,000 Ending Inventory $ 70,500 545,000 564,000 The following additional information describes the company's production activities for May. 270,000 1,562,000 80,000 Raw...
Required information Problem 16-1A Production cost flow and measurement; journal entries LO P1, P2, P3, P4...
Required information Problem 16-1A Production cost flow and measurement; journal entries LO P1, P2, P3, P4 [The following information applies to the questions displayed below.) Sierra Company manufactures soccer balls in two sequential processes: Cutting and Stitching. All direct materials enter production at the beginning of the Cutting process. The following information is available regarding its May inventories: Raw materials inventory Work in process inventory-Cutting Work in process inventory-Stitching Finished goods inventory and Beginning Inventory $ 36,000 103,500 123,300 32,100...
6. Poor Professor Mullen (PPM) Ine hae $20.000 of ending finished goods (EI, FG) inventory as of December 31, 2015. If beginning finished coods (BIFG) inventory was $10,000 and cost of goods sold (CGS) was $40.000, how much would Poor Professor Mullen, Inc report for cost of goods manufactured (CGM)? A) $45,000 B) $10,000 C) $50,000 D) $30,000 7. Lao Shu Mullen, Ine's accounting records reflect the following inventories: -_Jan 1. 2015 (BI) Dec.31. 2015 (ET) Raw materials inventory (RM)...
4) In the Schedule of Cost of Goods Manufactured and Cost of Goods Sold, the cost of goods manufactured is computed according to which of the following equations? A) Cost of goods manufactured = Total manufacturing costs + Ending work in process inventory - Beginning work in process inventory B) Cost of goods manufactured = Total manufacturing costs + Beginning work in process inventory - Ending work in process inventory C) Cost of goods manufactured = Total manufacturing costs +...
Required information Problem 16-1A Production cost flow and measurement; journal entries LO P1, P2, P3, P4 [The following information applies to the questions displayed below) Sierra Company manufactures soccer balls in two sequential processes: Cutting and Stitching. All direct materials enter production at the beginning of the Cutting process. The following information is available regarding its May inventories: Raw materials inventory Work in process inventory-Cutting Work in process inventory Stitching Finished goods inventory Beginning Inventory $ 96,000 223,500 243,300 56,100...
Exercise 3-3 Schedules of Cost of Goods Manufactured and Cost of Goods Sold [LO3-3] Primare Corporation has provided the following data concerning last month's manufacturing operations. Purchases of raw materials Indirect materials included in manufacturing overhead Direct labor Manufacturing overhead applied to work in process Under applied overhead $30,000 $ 4,800 $59,500 $88, 400 $ 4.050 Inventories Raw materials Vork in process Finished goods Beginning $ 10.200 $ 54,200 $ 33,800 Ending $ 19.700 $ 66.800 $43.600 Required: 1. Prepare...
Please show the computation to obtain the
answers.
12. Required information [The following information applies to the questions displayed below.) Part 1 of 2 0.58 points Sierra Company manufactures soccer balls in two sequential processes: Cutting and Stitching. All direct materials enter production at the beginning of the Cutting process. The following information is available regarding its May inventories: Beginning Ending Inventory Inventory $ 76,000 $ 91,750 183,500 130,500 Raw materials inventory Work in process inventory- Cutting Work in process...
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...
Help Required information (The following information applies to the questions displayed below.) Sierra Company manufactures woven blankets and accounts for product costs using process costing. Data below are for one of its processing departments. The following information is available regarding its May inventories Raw materials inventory Work in process inventory Finished goods inventory Beginning Inventory $ 54,000 430,500 633,000 Ending Inventory $ 70,500 545,000 564,000 The following additional information describes the company's production activities for May. 270,000 1,562,000 80,000 Raw...
Required information Problem 16-1A Production cost flow and measurement; journal entries LO P1, P2, P3, P4 [The following information applies to the questions displayed below.) Sierra Company manufactures soccer balls in two sequential processes: Cutting and Stitching. All direct materials enter production at the beginning of the Cutting process. The following information is available regarding its May inventories: Raw materials inventory Work in process inventory-Cutting Work in process inventory-Stitching Finished goods inventory and Beginning Inventory $ 36,000 103,500 123,300 32,100...
Most questions answered within 3 hours.
-
Would you hire a white hat hacker or black hat hacker? What are
the pros and...
asked 3 minutes ago -
The CFO is conducting a meeting and she says "we shouldn't
accept this project because we...
asked 5 minutes ago -
How do you obtain the discount rate for an international capital
budgeting problem?
asked 2 minutes ago -
Hi, please read the entire problem.
I need help with the BusOrder class and test for...
asked 4 minutes ago -
Hello, regarding the photoelectric effect I had a couple
questions:
Red light is shining on a...
asked 20 minutes ago -
build a sample navigation Sprite in css ?
asked 18 minutes ago -
Please write a C# program for an concert sale with the
requirements below in Console Form:...
asked 21 minutes ago -
use linux follow instructions , put the commands at each step
and screenshot at each step...
asked 35 minutes ago -
Suppose producer’s production function let q(K, E) =
K0.5E0.5
Suppose producer’s cost function if w=w’ and...
asked 31 minutes ago -
Using the information given below for the fictitious country
"Alpha," find the national saving rate.
...
asked 22 minutes ago -
What is the advantage(s) of using iPS instead of ES cells for stem
cell therapies?
asked 31 minutes ago -
1. The return on assets
(ROA) for XYZ Hospital Systems Inc, below, for the year 20XX
was...
asked 34 minutes ago