Reference no: EM132318525
Question
1. Using the information below for our company; determine the cost of goods manufactured during the current year?
Direct materials used$5,000
Direct Labor 7,000
Total Factory overhead 5,100
Beginning work in process 3,000
Ending work in process 4,000
2. Using the information below, calculate net income for the period?
Beginning Raw Materials Inventory $25,000
Ending Raw Materials Inventory 30,000
Beginning Work in Process Inventory 55,000
Ending Work in Process Inventory 64,000
Beginning Finished Goods Inventory 80,000
Ending Finished Goods Inventory 67,000
Cost of Goods Sold for the period 540,000
Sales revenues for the for the period 1,254,000
Operating expenses for the period 232,000
3.Based on a predicted level of production and sales of 22,000 units, a company anticipates total variable costs of $99,000, fixed costs of $30,000, and operating income of $36,000. Based on this information, the budgeted amount of variable costs for 20,000 units would be:
4. A corporation declared a $0.50 per share cash dividend on its common shares. The company has 20,000 shares authorized, 9,000 shares issued, and 8,000 shares of common stock outstanding. The journal entry to record the dividend payment is?
What is the most important thing you learned
: What is the most important thing you learned so far in this course, and how specifically does it apply to your current or future career?
|
Analyze the impact of standard forms of measurements
: Analyze the impact of standard and alternative forms of measurements upon the target of your program evaluation. Provide research support.
|
The pretax net income is
: A firm expects to sell 25,400 units of its product at $11.40 per unit and to incur variable costs per unit of $6.40. Total fixed costs are $74,000.
|
Cost of goods manufactured and cost of goods sold is
: Xia Co. manufactures a single product. The company's cost of direct materials used, cost of goods manufactured and cost of goods sold is?
|
Determine the cost of goods manufactured
: Using the information below for our company; determine the cost of goods manufactured during the current year. Calculate net income for the period?
|
Prepare April and May income statements for Nascar Motors
: Prepare April and May 2017 income statements for Nascar Motors under (a) variable costing and (b) absorption costing
|
Calculate net cash provided or used by operating activities
: A company's income statement showed the following: net income, $134,000; depreciation expense, $30,000; and gain on sale of plant assets, $4,000.
|
Prepare budgeted income statements for each of the months
: Merline Manufacturing makes its product for $55 per unit and sells it for $147 per unit. The sales staff receives a 10% commission on the sale of each unit.
|
How many units must be sold
: Total fixed costs are $436,000. If the firm wants to earn $63,500 pretax income, how many units must be sold?
|