User Account

All Pages

Compute cost of goods manufactured

Assignment Help Accounting Basics
Reference no: EM132132712

Question - The following information is available for Collins Company. January 1, 2014 2014 December 31, 2014 Raw materials inventory $22,000 $30,000 Work in process inventory 20,300 17,200 Finished goods inventory 27,000 29,000 Materials purchased $170,000 Direct labor 200,000 Manufacturing overhead 183,000 Sales revenue 875,000

Instructions -

(a) Compute cost of goods manufactured?

(b) Make an income statement through gross profit?

(c) Show the presentation of the ending inventories on the December 31, 2014 balance sheet?

(d) How would the income statement and balance sheet of a merchandising company be different from Laurel's financial statements?

Reference no: EM132132712

Questions Cloud

Ethics in information management : Discuss what you learned from those articles. In your discussion, give example(s) of your organization handles ethic concerns.
Central planning committee that made decisions : What changes would you propose if you were on the central planning committee that made decisions for your city?
Describe the important dimensions of knowledge : Define knowledge management and explain its value to businesses. Describe the important dimensions of knowledge.
Salesman learned the price elasticity of demand : How many percent will increase in the total sales (revenue) if he cuts the price by 10%? Show your calculation process
Compute cost of goods manufactured : Raw materials inventory $22,000 $30,000 Work in process inventory 20,300 17,200, Compute cost of goods manufactured
The use of computer assisted education in elementary school : How information technology has enhanced the use of computer assisted education in the elementary school classroom.
Which type or category of unemployment best describes : a. Which type or category of unemployment best describes Tom, Jerry and Mary situation. Explain.
How would the redesign enhance successful teamwork : Brainstorm some ways to "redesign" your office space (or an office space you have previously worked in) on paper using virtual or flexible space.
Outcome measure in an economic evaluation : When is it appropriate to use "QALYs" instead of simply improved life expectancy as the outcome measure in an economic evaluation?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Sam has a loan that requires a single payment of 4000 at

sam has a loan that requires a single payment of 4000 at the end of 3 years. the loans interest rate is 6 compounded

  Effect of cost structure on profitability

Describe the effect of cost structure on profitability, including recommendations for each company given the current economic environment

  Having in mind the companys relationship between

having in mind the companys relationship between receivables and cash the influence of liquidity and solvency and they

  What is the amount of martha capital loss carry forward

Martha has a net capital loss of $20000 and What is the amount of Martha's capital loss carry forward? Show your work

  Calculate the amount to be recorded as a right-of-use asset

Rumsfeld Corporation leased a machine on December 31, 2018, for a three-year period. Calculate the amount to be recorded as a right-of-use asset

  What are the budgeted cash receipts from sales on account

If sales on account are budgeted to be $170,000 for June and $200,000 for July, what are the budgeted cash receipts from sales on account for July

  What is the company cost of retained earnings

The common stock of Anthony Steel has a beta of 1.20. The risk-free rate is 5% and the market risk premium is 6%.Assume the firm will be able to use retained earnings to fund the equity portion of its capital budget. What is the company's cost of ..

  Problem related to straight-line method of depreciation

ABC Corp. purchased an asset on January 1, 2008, for $10,400. The asset was expected to have a ten-year life and a $1,000 salvage value. ABC Corp. uses the straight-line method of depreciation. On January 1, 2010, ABC Corp. determines that the ass..

  Mae charged the following amounts of overhead to jobs

m.a.e. charged the following amounts of overhead to jobs during the year 20000 to jobs still in process 60000 to jobs

  What kind of lease is this to fenton company

What kind of lease is this to Fenton Company, What should be considered the lease term

  Research paper on the economy of norway

Research paper on the economy of the following group of countries listed below. Norway, Russia, Venezuela, and Saudi Arabia

  Investments in current assets section

Fulton will report investments in its current assets section of :

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd