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Let's try one "numbers" exercise to test our knowledge of the basic accounting terms.Given that, sales = 12,500 units during the yearCost of good sold = $250,000Beginning inventory of finished goods = $87,000Cost of goods manufactured = $241,000Gross profit ratio = 60% of salesDirect materials used = $122,000Direct labor cost = $74,000Manufacturing overhead cost = $40,000Beginning Work-in-process = $55,000Selling and general admin cost = $310,000The company is subject to a 30% income tax rate.
Based on the above information, answer the following questions. You can answer all, or just a few at a time and leave the rest for your classmates.
Use the indirect method to compute cash flow from operating activities.
Prepare a variance summary, and briefly comment on variances that should be investigated.
What is the amount of cash April Wood Products received from customers during the reporting period if its sales were $44 million?
chiapas corporation purchased 2000 shares of its 10 par value general stock for 120000 on 1st august. it will hold
Construct the company's direct labor budget for the upcoming fiscal year, assuming that the direct labor workforce is adjusted each quarter to match the number of hours required to produce the forecasted number of units produced.
What would be the pretax amounts related to the investment that Beilich would report in its statement of cash flows for the year ended December 31, 2011?
Products Gamma and Delta are joint products. The joint production cost of the products is $800. Gamma has a market value of $500 at the split-off point.
Does the statement of cash flows report only transactions that cause an increase or a decrease in cash? Explain.
1 nbspnbsp process solutions provides a computer-based document processing service. the accountant has produced the
There're four primary techniques of examining capital decisions - two are discounting techniques and two aren't. Please pick one of them, describe the method and the pros and cons.
Effect of transactions on liquidity measures. Selected balance sheet accounts for Tibbetts Company on September 30, 2013, are as follows:
Assuming a 365-day year, what is the length of its cash conversion cycle?
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