Calculate the cost in ending finished goods inventory

Assignment Help Financial Accounting
Reference no: EM13174153

Requirement #4: Based on the current economic pressures, the company has decided to eliminate the part time janitor and the cost of that position and have the production workers clean up the area. What will be the new COGM?

1. What will be the new COGM?

2. Computation of Cost per unit: COGM/units produced

3. Calculate the cost in ending finished goods inventory at the end of the year.

If you have used only cell references on your statements you should only have to eliminate the figure in requirement #1 and

the COGM statement will change automatically. Make sure you change the information back to the original information before submitting.


Attachment:- Project.xls

Reference no: EM13174153

Questions Cloud

Which account has the greatest long-term implication. : Discuss the problems associated with having a persistent vs. temporary current account deficit and determine which one has the greatest long-term implication.
Develop a thorough understanding of accounting standards : Develop a thorough understanding of accounting standards and principles and fulfill the core accounting educational requirement to sit for the CPA exam.
Analyze the balance-of-payment structure : Analyze the balance-of-payment structure and make at least one recommendation for reducing errors and/or omissions. Explain your reasoning for making the recommendation you did.
How many grams of h2 are present at equilibrium : 2.0 atm H2 and 2.0 atm of CO2 into a 1.00-L container at 25.0C and then raises the temperature to 700C at which Kc=.534 H2 + CO2--> H2O + CO, how many grams of H2 are present at equilibrium.
Calculate the cost in ending finished goods inventory : What will be the new COGM and computation of Cost per unit: COGM/units produced, calculate the cost in ending finished goods inventory at the end of the year.
Explain how rent seeking can lead to a drop in production : explain how rent seeking can lead to a drop in production of goods and services. what role might the underground economy play in lessing the drop in productie activities.
What is the final temperature of gold upon absorbing : Suppose that 25g of gold is initially at 27 degrees Celsius. What's the final temperature of gold upon absorbing 2.35kJ of heat?
Calculate the number of grams of glucose : Calculate the number of grams of glucose must be dissolved in water in order to produce 100.0 ml of a 3.700 M glucose solution (C6H12O6). Density = 2.601
Calculate the molarities of each ion in the solution : An experimenter makes up a solution of .310 mol Na3PO4, .100 mol Ca(NO3)2, and .150 mol AgNO3 in 4.000L of water solution. Note any precipitations that occur, writing a balanced equation for each. Then, calculate the molarities of each ion in the ..

Reviews

Write a Review

Financial Accounting Questions & Answers

  What is the organization total revenue

If the interest rate that the firm must pay to borrow capital is 25%, then if the firm borrows the optimal amount of capital, what is the organization's total revenue?

  Illustrate what is net realizable value of sanchez company

Prepare the journal entry for Sanchez Company to write off the Maximillan receivable. Illustrate what is the net realizable value of Sanchez Company’s accounts receivable before the write-off of the Maximillan receivable?

  Find the probable role of the monthly report

Find the probable role of the monthly report and What is the controller's responsibility with respect to a president who doesn't know much accounting?

  Cash basis accounting system

Are adjusting entries used in an accrual basis accounting system or in a cash basis accounting system?

  Prepare a schedule showing amounts -buildings and machinery

Land, Buildings, and Machinery - Prepare a schedule showing the amounts to be recorded as Land, Buildings, and Machinery.

  Discuss how differences between pooling and purchase account

Discuss how differences between pooling and purchase accounting for acquisitions affect future reported earnings if the Pierson/Drew business combination.

  What is journal entry for issuing this bond

It has detachable warrant that allows purchaser to buy 20 shares of stock. Price of bond right after issue is 96 and detachable warrant is 2$. What is journal entry for issuing this bond?

  Compute general mills'' accounts receivable turnover ratio

Compute General Mills' accounts receivable turnover ratio for 2004. (Assume that all sales are on credit. and determine the average collection period, in days, for an account receivable? Explain your answer.

  Description of ratio and proportion

According to a professor from the University of Minnesota, your maximum ideal waist size is directly proportional to your hip size. For a woman with 40 inch hips, the max ideal waist size is 32 inches.

  What was account balance at end of the tenth year

At the end of the sixth year, the account balance was transferred to a bank paying 10%, and annual deposits of $6,000 were made at the end of each year from the seventh through the tenth years. What was account balance at the end of the tenth yea..

  Difference between an associate and a subsidiary

What is the difference between an "Associate" and a "Subsidiary"? Give an example in your answer. And what is Goodwill and when is that applie

  Prepare journal entries to record the above transactions

Preparation of journal entries to record issue of shares and dividend and Prepare journal entries to record the above transactions.

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!

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