Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Question - Gelinas Computer Company was organized on May 1. On that date, the company purchased 42,000 USB flash drives to be sold with personal computers, each pre-loaded with the company's product information brochures. The front of the USB flash drives displays the company's name and an attractive corporate logo. Each USB flash drive cost Gelinas $6.
During May, 31,500 USB flash drives were drawn from the raw materials inventory account. Of these, 600 were taken by the sales manager to an important sales meeting with prospective customers and handed out as advertising. The remaining USB flash drives drawn from inventory were sold by bundling them with units of the company's product that were being manufactured during May. Of the units of product that were bundled with the USB flash drive during May, 80% were completed and transferred from work in process to finished goods. Of the units completed during the month, 70% were sold and shipped to customers.
Required -
1. Determine the cost of flash drives that would be in each of the following accounts at May 31:
Raw materials
Work in Process
Finished Goods
Cost of Goods Sold
Advertising Expense
2. Specify whether each of the above accounts would appear on the balance sheet or on the income statement at May 31.
Compute the simple rate of return on the printer. The CFO of The Fun Factory is investigating the possibility of investing in a three-dimensional
Calculate the expected full cost of the Surenex engagement, including an allocation of overhead.
$1,300 of ski boots in merchandise inventory at the end of October to cover part of anticipated November sales. What is budgeted cost of goods sold for October?
Financial analysis on the three companies FedEx, Volkswagen and Hershey
Pricing Kings currently sells vehicles for $3,600. What is the target cost if the company wants to maintain its same income level, and marketing is correct?
Explain why several government bond yields (including German, French and Swiss) turned negative in January 2015? Discuss the implications to issuers
What is the minimum amount of money you must pay when subscribing to the share? JSC „RDZ-2" announced the subscription on the new emission
How will the calculation of the break-even point change (if at all) if the relative percentages of the products in the mix change from 60% to 40%?
Calculate the annual cost of fighting the pirates, based on the information Jefferson provides, using the accounting technique of asset capitalization
Prepare a more appropriate forecast of before tax profit related to the Indianapolis Craft Expo.
Calculating the ending balance in Raw Materials Inventory, Work in Process Inventory, Finished Goods Inventory, and Cost of Goods Sold
What do the metrics tell you about the company's performance? Support your answer by explaining the results from your assessment.
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd