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Campbell Soup Company provides access to its annual reports online at www.campbellsoup.com.The annual reports are found in the "Our Company/Investor Center/Financial Information/Annual Reports" area of its website. Locate the following information in the annual reports provided for 2011, 2010, and 2009:1. From the notes to consolidated financial statements, find the composition of the beginning and ending inventory for each of the following accounts: Raw Material, Work in Process, and Finished Goods.2. From the consolidated statements of income, find the amount for Cost of Sales.3. From the consolidated balance sheets, find the amount for Inventories.4. From the management's discussion and analysis, find the overview section that explains Gross Profit.Required:
a. Calculate the cost of goods manufactured for 2011, 2010, and 2009.b. Calculate the total amount of combined cost incurred in 2011, 2010, and 2009 for raw material, direct labor, and manufacturing overhead.c. From the 2011 "Management's Discussion and Analysis of Financial Condition and Results of Operations," identify the ratio of cost of sales to net sales.Comment on the overall trend.d. Review Chapter 11 if necessary and calculate the inventory turnover and day's sales in inventory for 2011, 2010, and 2009. Comment on the overall trend.
You have been provided with a list of budgeted costs and asked to devide them into two different cost pools as part of your accounting process. You use the ABC method and accummulate costs into logical cost pools. The list of costs need to be divided..
Sager Company manufactures variations of its product, a technopress, in response to custom orders from its customers.
CompTronics, a manufacturer of computer peripherals, has excess capacity. The company's Utah plant has the following per-unit cost structure for item no. 89:
Kimm Company has gathered the information about its product - Compute Kimm's total standard cost per unit.
Why is variable costing not allowed for financial reporting purposes?
Knox Company begins operations on January Because all work is done to customer specifications, the company decides to use a job order cost system.
Compute the before-tax NPV of the new lift and advise the managers of Deer Valley about whether adding the lift will be a profitable investment. Show calculations to support your answer.
A company's shipping division (an investment center) has sales of $ 2,420,000, net income of $ 516,000, and average invested assets of $ 2,250,000.
Prepare a general journal entry summarizing for the month each of the above categories of transactions. Explanations may be omitted.
finlon upholstery inc. uses a job-order costing system to accumulate manufacturing costs. the companys work-in-process
Peoria Implements Company produces farm implements. Peoria is in the process of measuring its manufacturing costs and is particularly interested in the costs of the manufacturing maintenance activity, since maintenance is a significant mixed cost.
Suppose one predetermined rate per copy was used to allocate all photocopy costs. What rate would be used and how much cost would be allocated to the Public Works Department in August?
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