What was the cost of finished goods inventory at beginning

Assignment Help Managerial Accounting
Reference no: EM132657217

Sage Ltd. had the following results for the month of March.

Sales $1,740,000

Cost of goods manufactured $1,009,200

Gross margin 40% of sales

Ending finished goods inventory$189,000

Required:

Problem 1: What was the cost of finished goods inventory at the beginning of March?

Reference no: EM132657217

Questions Cloud

Challenges that exist in crime and criminology : Define the problems and challenges that exist in crime and criminology. Explain the historical issues that have contributed to the problems and challenges.
Calculate measures of central tendency : Calculate measures of central tendency and dispersion and provide interpretations - Calculate and Interpret Measures of Central Tendency
Describe plan for data analysis for demographic variables : Describe plan for data analysis for demographic variables (descriptive statistical tests). Describe plan for data analysis of study variables.
What is the convexity and duration of the bond : A 10-year maturity bond making annual coupon payments with a coupon rate of 10%, the bond currently sells at a yield to maturity of 8%.
What was the cost of finished goods inventory at beginning : What was the cost of finished goods inventory at the beginning of March? Cost of goods manufactured $1,009,200. Ending finished goods inventory$189,000.
Calculate the firm expected profit : A firm wants to undertake an investment project which costs $25,000, which it wants to finance through a bank loan. The project has a 60 percent probability of
Determine the retail price charged to consumer : If the manufacturer sells directly to a retailer who then adds a set margin of 40% based on retail selling price, determine the retail price charged to consumer
Calculate the conversion cost per unit costs : Calculate the Conversion cost per unit costs: (Round your answers to 2 decimal places.)Discon Corporation manufactures a popular doll called Teardrops
The juvenile court system be rehabilitative or punitive : Should the philosophy of the juvenile court system be rehabilitative or punitive? Defend your position.

Reviews

Write a Review

Managerial Accounting Questions & Answers

  Calculate the amount of bad debt expense for the period

Calculate the amount of bad debt expense for the period and the net realizable value of Accounts receivable and the balance after adjustment

  The question this week will force each and everyone to look

The question this week will force each and everyone to look inside ourselves and determine where we want our future of our society to go.

  Discuss how an allocation of overhead based on opportunity

Discuss how an allocation of overhead based on opportunity cost would facilitate an appropriate bidding decision.

  How much is cost of goods sold

On January 1, 2015, the balance in the Work-in-Process inventory account is $12,000. Cost of goods manufactured is $290,000. How much is cost of goods sold?

  Define value-added costs

Define what is Value-added costs?include maintenance and repairs of the manufacturing equipment/are costs that a customer is unwilling to pay for

  Prepare the cash collections budget from sales

Prepare the Cash Collections Budget from sales if the cash sales are equal 40% of the total sales and the credit sales are equal to 60%

  Classify all manufacturing costs and selling

What types of capital budgeting factors would you look at when deciding whether to do this? What would be the relevant costs that you would consider in this decision?

  Discuss horizontal analysis

Discuss Horizontal analysis, Vertical Analysis, Ratio Analysis and how are these concepts used in analyzing financial statements.

  Show improvement in the performance measure

Explain actions that managers might take to show improvement in the performance measure but that do not actually lead to improvement in the organization

  Create a schedule of cost of goods manufactured for the year

Create a schedule of cost of goods manufactured for the year, Assume all raw materials are used in production as direct materials.

  What specific managerial accounting activities useful

Demonstrate how the principles of management accounting can be utilized. What specific managerial accounting activities would be useful?

  Compute what do the metrics tell about company performance

If you were considering investing in a company, what other questions would you ask to gain further insight into its performance?

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