User Account

All Pages

Calculate the amount of cost of sales for the year

Assignment Help Managerial Accounting
Reference no: EM132979275

Below is information in relation to the accounts of A FACTORY LIMITED.

§ Direct materials (1/1) €25.000

§ Purchases made during the year €115.000

§ Direct materials (31/12) €15.000

§ Direct labor used during the year €60.000

§ Direct labor paid during the year €56.000

§ Direct labor liability (31/12) €4.000

§ Manufacturing Overhead during the year €85.000

§ Work in Progress (1/1) €27.000

§ Work in Progress (31/12) €22.000

§ Finished goods (1/1) €44.000

§ Finished goods (31/12) €39.000

Problem 1: You are required to calculate the amount of Cost of Sales for the year.

Reference no: EM132979275

Questions Cloud

Explain the disadvantages of billing : Question - Explain the disadvantages of billing at 100% or 500% of the Medicare Fee Schedule as it relates to profitability
Prepare a standard cost card for product a : Prepare a standard cost card for product A. Nationalic makes one product, product A. Two types of labor are involved to produce product A
What will the book value of the asset on december : Deprecation is charged at 10% per Annum using the declining balance method. What will the book value of the asset on December 31, 2013
Why is it important to understand the internal : Why is it important to understand the internal and external contexts of an organisation with reference to risk management
Calculate the amount of cost of sales for the year : You are required to calculate the amount of Cost of Sales for the year. Purchases made during the year €115.000. Direct labor used during the year €60.000
Aid of cqmc : How different do you feel healthcare would be without the aid of CQMC and all that it has accomplished and set out to achieve
Which asset is more likely to lose money : Question - Two assets have normally distributed returns: asset A: 5% E(R.). Which asset is more likely to lose money in any holding period
How equal employment law effect employee selection : How equal employment law effect employee selection
What is important about having a detailed business plan : As a 21st Century Entrepreneurial Leader, detail why and what is important about having a detailed Business Plan.

Reviews

Write a Review

Managerial Accounting Questions & Answers

  Find how well does investment in working capital bear up

How well does investment in working capital bear up to the scrutiny of the time value of money principle? Appraise your company's ability to deliver

  What are the actual net earnings

NANOSINE Corp. produces a brand new sports drink which uses a new grinding procedure to transform natural minerals into nano particles which themselves are later on dissolved in water. What are the actual net earnings (EBIT) for the year 01 based o..

  Compute the company budgeted sales for the next week

Compute the company's budgeted sales for the next week. Robust Resources expects to sell 400 units of Product A and 360 units

  What operating cash flow for project for jefferson and sons

The applicable tax rate is 22 percent. What is the operating cash flow for this project? Jefferson & Sons is evaluating a project that will increase annual sale

  Prepare a sales budget and cash receipts budget

Prepare a sales budget, cash receipts budget, production budget, raw materials budget, and cash disbursements budget - peak sales coming in the third quarter

  Prepare a report to comment on the suitability of the TDABC

You are required to prepare a report to comment on the suitability of the Time-Driven Activity-Based Costing for a company of your choice

  Determine the projects rate of return

Determine the projects rate of return. The project will have $400,000 cash inflows per year in years 1-5; $200,000 cash inflows in years 6-10, and $40,000 cash

  Is a work breakdown structure advisable for outreach project

Is a work breakdown structure advisable for outreach projects? Is WBS recommendable and when is it better to use responsibility matrix for outreach projects?

  Calculate total estimated costs for next year

Calculate total estimated costs for next year. Calculate Preferred's net operating income assuming the company uses variable costing.

  Why might it be easier for an investor desiring to diversify

Why might it be easier for an investor desiring to diversify his portfolio internationally to buy depository receipts rather than the actual shares of the company?

  How many units should Rizzo budget to purchase in year

During year 6, Rizzo expects to sell 210,000 units of calipers. How many units should Rizzo budget to purchase in year 6

  Which statement characterizes time value of money concept

Which statement characterizes the time value of money concept? The present value of a dollar received in the future is less than a dollar.

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