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Wynne Company has a broad range of products it sells in a four-state area. Sales for the four quarters of 2016 are expected to be $448,000, $789,000, $804,000, and $550,000, for an annual total of $2,591,000. Cost of goods sold averages 60% of sales. Ending inventory for each quarter should be 15% of cost of goods sold for the following quarter. Inventory at January 1 is expected to be $40,000. Required: a. Show calculations for ending inventory, purchases, and cost of goods sold for the first three quarters of 2016. b. Assume that all the information above has come from the President, the Marketing Manager, and the Chief Financial Officer of Wynne. Briefly describe the potential advantages of the top-down budgeting approach in use at this time. What risks, if any, does the company face because of this strategy?
a companys income statement showed the following net income 130000 depreciation expense 33000 and gain on sale of plant
1.a company had sales of 699000 and cost of goods sold of 280000. its gross profit
berneys produces two products a and b. a sells for 4.00 per unit b sells for 5.25 per unit. variable costs for a and b
patrick star and spongebob squarepants aquatic entreprenuers are considering the purchase of a crabbie pattie conveyor
alfred e. old and beulah a. crane each age 42 married on september 7 2011. alfred and beulah will file a joint return
boswell company reported the following information for the current year. sales 50000 units 1000000 direct materials
eve brown is trying to save for her retirement. she believes she can earn 12 on average each year on her retirement
Let's talk about donated services. Clearly unique to nonprofits (well, I've never heard of anyone willingly donating their time and efforts to General Motors, but I guess it's possible) - What does FASB say about donated services?
The translation (remeasurement) adjustment reported in a translation when the functional currency is not the foreign currency is included:
1. Calculate the direct materials used in the production of services. 2. Prepare a statement of cost of services sold.
Compute the activity rates for the Filling Orders and Product Support activity cost pools by filling in the table
compute fifo lifo and average cost - periodic and perpetual some of the information found on a detail inventory card
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