User Account

All Pages

Compute how much value of ending finished goods inventory

Assignment Help Cost Accounting
Reference no: EM132694133

The following events took place at the Rounin Company over the past year.

Incurred direct labor costs of P47, 000

Purchased manufacturing equipment for P75, 000

Purchased direct materials for P176, 000

Incurred manufacturing overhead of P81, 000

Transferred 73% of the direct materials to work in process

Completed work on 85% of the goods in work in process

Sold 90% of the completed goods

Marketing and administrative costs were P85, 000

Sales amounted to P400, 000

There were no beginning balances in any of the inventory accounts. Costs are assigned equally across all work in process

Question 1: What is the cost of goods sold?

Question 2: What is the company's net income or net loss?

Question 3: How much is the value of the ending finished goods inventory?

Reference no: EM132694133

Questions Cloud

Compute what amount of overhead applied to order number : Find What amount of overhead should be applied to order number 100? During the month of January, cost sheet of order number 100 indicates P20 of raw materials
What drives different generations motivations : What do you think about what drives different generations' motivations in the workplace? The response must be typed, double spaced, times new roman.
What worley should report cost of goods sold of : Appropriate inventories and cost of goods sold based on year-end balances in it's year end income statement. Worley should report cost of goods sold of
Identify jobs for which incentive pay is inappropriate : Identify two jobs for which individual incentive pay is inappropriate. Choose realistic jobs. Justify your answer. Separate your answer into paragraphs
Compute how much value of ending finished goods inventory : There were no beginning balances in any of the inventory accounts. Costs assigned equally across. How much is the value of the ending finished goods inventory?
Discuss ways in which effective hr forecasting can be used : What is the relationship between corporate strategy and human resources strategic planning? Identify and discuss two key ways in which effective HR forecasting.
What are frequent causes of stress : What are frequent causes of stress and ways to effectively manage each cause? How can managers help alleviate workplace stress of their subordinates?
Which of the accounting principles would best account : Which of the accounting principles would best account for the discrepancy between what you are reading in the financials and what you believe to be true
What are the most substantial challenges to the growth : What are the most substantial challenges to the growth and development of IFRS in the coming years? Why? How would you propose that the IASB

Reviews

Write a Review

Cost Accounting Questions & Answers

  Create gantt charts for both the fcfs and johnson rule

Create Gantt charts for both the FCFS and Johnson's rule methods.Compute the total time to complete the jobs using FCFS and using Johnson's rule

  When the borrower pays herzog the correct amount owed

On July 1, 2012, Herzog Mining lends cash and accepts a $9,000 note receivable that offers 10% interest and is due in nine months. How would Herzog record the transaction on April 1, 2013, when the borrower pays Herzog the correct amount owed

  Compute each partners equity on the books

Compute each partners equity on the books of the new partnership - Admission of a new partner

  What is the controllable overhead variance

What were standard hours for September, what is total monthly budgeted fixed overhead cost and what is the controllable overhead variance?

  What amount is jarvie required to include in taxable income

Jarvie loves to bike. In fact, he has always turned down better paying jobs to work in bicycle shops where he gets an employee discount. At Jarvie’s current shop, Bad Dog Cycles, each employee is allowed to purchase four bicycles a year at a discount

  What is duke cost of common stock equity

During this time, dividends have grown at a compound annual rate of 7%. If Duke Energy's current stock price is $78 and the firm's plans to pay a dividend of $6.50 next year, what is Duke's cost of common stock equity?

  BUSS 1602 Cost Accounting Assignment

BUSS 1602 Cost Accounting Assignment Help and Solution, Middle East College - Assessment Writing Service - Differentiate between direct and indirect costs

  Prepare an income statement for september

Prepare an income statement for September, an owner"s equity statement for September, and a balance sheet at September 30.

  Explain difference between a joint product and by-product

Discuss the procedures to be followed when using relative-sales-value method of allocating joint costs if the joint products require further processing

  Which types of companies likely use a process costing system

Which types of companies would most likely use a process costing system and which types of companies would use job costing? Provide examples

  Describe the difference between direct and indirect costs

Describe the difference between direct and indirect costs. Do you agree that all variable costs are direct costs while all fixed costs are indirect costs?

  How much is cost of goods sold for april

How much is Cost of Goods sold for April? Beginning Finished Goods Inventory $17,400. Ending Finished Goods Inventory $25,400

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