What is the amount of finished goods inventory

Assignment Help Financial Accounting

Reference no: EM131202444

During its first year of operations, Silverman Company paid $15,085 for direct materials and $10,200 for production workers' wages. Lease payments and utilities on the production facilities amounted to $9,200 while general, selling, and administrative expenses totaled $4,700. The company produced 6,050 units and sold 3,700 units at a price of $8.20 a unit. What is the amount of finished goods inventory on the balance sheet at year-end? (Do not round intermediate calculations.)

$9,250

$13,395

$2,350

$6,698

Reference no: EM131202444

Questions Cloud

Explain elements of murder : Explain elements of murder, including what is required to convict someone of attempt to commit murder.- Explain whether Mr. Assin is guilty of attempted murder of Sally's husband.

Calculate cost per equivalent unit for the month : Input to process Y in June was 5000 units of direct materials from Process X,costing $27500 and added materials costing $2080.Direct labor costs in process Y were $4000 and production overhead was $8000.Output from the process was 4000 units. Calcula..

How did you arrive at the number of co molecules in drawing : The following drawing represents a sample of H2. Make a corresponding drawing of the CO needed to react completely with the H2. How did you arrive at the number of CO molecules in your drawing?

About investing in business activities : Two acquaintances have approached you about investing in business activities in which each is involved. Nateisha is seeking $680 and Tian needs $590. One year from now your original investment will be returned, along with $61 income from Nateisha or ..

What is the amount of finished goods inventory : During its first year of operations, Silverman Company paid $15,085 for direct materials and $10,200 for production workers' wages. Lease payments and utilities on the production facilities amounted to $9,200 while general, selling, and administrativ..

Define the organization vision statement : Explain the process for ensuring the number, competency, and skill mix of staff as related to the provision of needed services. Analyze the types of information and information systems capabilities needed by healthcare organizations.

Periodic inventory system and perpetual inventory system : Journalize the following transactions for Armour Inc. using both the periodic inventory system and the perpetual inventory system, presented in a side-by-side format shown at the end of this exercise. Sold merchandise on credit to Rondo Distributors,..

How the strategy maximizes the amount of transferred wealth : You are an associate in a boutique tax consulting firm that specializes in the real estate industry. Consider how the strategy maximizes the amount of transferred wealth to the client's children over time and explain the amount in an Excel spreadsh..

Write a description of the aim of the gieven sports science : Write a description of the aim of the following. - Phase two of training is associated with gaining maximum strength of the basketball player.

User Account

All Pages