What would kutty industriess cost of goods sold had been if

Reference no: EM13588898

1.Odaine also disclosed that Bad Debt Expense was $1200 in 2012 and $990 in 2011. There were no recoveries of previously-written off accounts in either year. What were total write-offs of uncollectable accounts for the year ended 12/31/2012?

$1,250

$1,150

$210

$1,200

$950

JannaChan Ltd.'s Statement of Cash Flows had the following line items:

	2012	2011
Bad Debt Expense, net	$1,500	$1,350
Increase in Accts Receivable	$(6,600)	$(4,900)

2.JannaChan reported Sales of $150,000 during the year ended 12/31/2012. There were no write-offs or recoveries during 2012. How much cash did JannaChan collect from customers during the year ended 12/31/2012?

$143,400

$156,600

$150,000

$148,500

$141,900

3.A retail company, Telmo-Mart, had the following line item on its Balance Sheet:

		12/31/2012		12/31/2011
Inventory		$2,500		$2,200

Telmo-Mart's Income Statement had the following line item:

		2012		2011
Cost of Goods Sold		$65,000		$59,000

How much inventory did Telmo-Mart purchase during the year ended 12/31/2012?

$65,300

$64,700

$58,700

$65,000

$59,300

4.Nguyen Co. incurred the following costs during the quarter:

Raw materials used in production		$132,000
Marketing materials used by sales staff		$114,000
Wages of factory workers		$191,000
Salaries of sales staff		$391,000
Depreciation on factory and production equipment		$152,000
Depreciation on headquarters building		$132,000
Manufacturing overhead		$172,000

How much of these costs would have been recorded in Nguyen's Work in Process Inventory account during the quarter?

$495,000

$647,000

$488,000

$779,000

$1,252,000

5.A manufacturing company, Kutty Industries Ltd., had the following line items in a footnote:

	12/31/2012	12/31/2011
Raw Materials	$150	$140
Work in Process	$215	$200
Finished Goods	$250	$240
	$615	$580
LIFO Reserve	$(100)	$(60)
Total Inventory	$515	$520

Kutty Industries' Income Statement had the following line item:

		2012		2011
Cost of Goods Sold		$1,850		$1,725

What would Kutty Industries's Cost of Goods Sold had been if they had used the FIFO inventory method for the year ended 12/31/2012?

$1,950

$1,810

$1,750

$1,890

$1,850

Reference no: EM13588898

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