User Account

All Pages

Determine the cost of goods manufactured

Assignment Help Accounting Basics
Reference no: EM131784010

Question - Cost of Goods Manufactured

Presented below is selected information from the Greenville Company's current period accounting records (in $000s):

Sales $10,000

Raw Materials Used 2,500

Direct Labor Costs 1,000

Period Costs (Selling and Administrative) 2,500

Beginning Raw Material Inventory 300

Ending Raw Material Inventory 1,000

Net Income 200

Beginning Work-in-Process Inventory 0

Ending Work-in-Process Inventory 300

Beginning Finished Goods Inventory 700

Ending Finished Goods Inventory 400

* NOTE: All raw materials used were direct materials.

Required: Determine the following (in dollars):

a. Raw Material Purchases

b. Gross Profit

c. Cost of Goods Manufactured

d. Manufacturing Overhead

Reference no: EM131784010

Questions Cloud

Determine the best modulation scheme to transmit : determine the best modulation scheme to transmit the data in a bandwidth of 4 kHz
Strategically uses human resources to develop its personnel : Explain how this Southwest Airline strategically uses human resources to develop its personnel.
Compute the weighted average number of shares : Compute the weighted average number of shares to be used in computing earnings per share for 2015
Consumers by the electronic fund transfer act : What happens during the process of an electronic funds transfer? What protection is given to consumers by the Electronic Fund Transfer Act?
Determine the cost of goods manufactured : Question - Cost of Goods Manufactured. Determine the Cost of Goods Manufactured and Manufacturing Overhead
Qualitative analysis used in non routine decisions : Describe quantitative analysis and qualitative analysis used in non routine decisions,
How to write a journal entry on the given transaction : How to write a journal entry on this transaction? Aloha company has original supplies of $5,600 at the end of July and the beginning of August they purchased.
New belgium focus on social responsibility : Do you agree that New Belgium’s focus on social responsibility provides a key competitive advantage for the company? Why or why not?
Consumed in a standard aluminum-copper cell : If 4.50 g of an aluminum electrode has been consumed in a standard aluminum-copper cell, how many moles of electrons have been transferred?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Problem regarding the business professional look

The presentation should include a minimum 20-25 slides and a business professional look, with Times New Roman, 12-point font. Any sources used should be appropriately cited using APA style writing.

  Actual revenues reported in the income statement

Assume you are reviewing a company's annual report. In addition to actual revenues reported in the income statement, what other information disclosed would give you help in estimating this company's future revenues?

  Provide the journal entry for the asset revaluation

Excel Medical, LLC, consists of two doctors, Douglass and Finn, who share in all income and losses according to a 2:3 income-sharing ratio. Dr. Lindsey Koster has been asked to join the LLC.

  Does it appear that the realty business can pay it is debts

Identify the personal items given in the proceeding facts that would not be reported on the balance sheet of the business.

  Budgeted direct labor cost for the month

Margo's ending finished goods inventory is budgeted to be 20% of the following month's sales. How much was Margo's budgeted direct labor cost for the month of August, assuming that the hourly wage rate is $15.00

  What is value of the fixed cost for cost estimating quation

The variable cost per animal is $2 and the high and low costs used, What is the value of the fixed cost for the cost estimating quation

  Determine the amount of warranty expense

Determine the amount of warranty expense to appear in the year-end 12/31/14 income statement

  Identify the company by providing a summary

THE ANNUAL REPORT PROJECT - ACCT2301 Identify the company by providing a summary - What was the closing market price of the company's stock within two weeks of the due date of the final exam?

  Prepare a common-size income statement and balance sheet

decide a whether sanfields ability to pay debts and to sell inventory improved or deteriorated during 2011 and b

  Discuss what amount of maintenance department costs

Using the direct method, what amount of Maintenance Department costs will be allocated to Department B

  Xyz establish a central warehouse

XYZ company manufactures toys in three different countries: S1, S2 and S3. It sells these toys in four countries: A, B, C and D. The following table shows the total requirement for each type of toy by country of manufacture:

  Solve the case of the hall inc

Locke, CPA, was engaged by Hall Inc. to audit Willow Company. Hall purchased Willow after receiving Willow's audited financial statements.

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