Which amount is the correct cost sales figures

Assignment Help Financial Accounting
Reference no: EM132946076

Question - The normal capacity of an entity is 350 000 units per annum. The raw material cost is R220 per unit and direct labour is R250 per unit.

Variable production overheads are R60 per unit and fixed production overheads incurred amounts to R 5250 000. The crossing balance of finished goods is R9500 units (assume there is no opening balance).

Which amount is the correct cost sales figures if the actual production was 280 000 units for the year?

Reference no: EM132946076

Questions Cloud

What is the total amount oft he dividend : What is the total amount oft he dividend? CT, Inc. has 10,000 shares of 8% P50 par preference shares and 100,000 shares of P4par ordinary shares outstanding
How much money must you set aside today : You would like to give your daughter $75,000 towards her college education 20 years from now. How much money must you set aside today
How much of the proceeds would be allocated to common stock : How much of the proceeds would be allocated to the common stock? Tiktok Company issued 10,000 shares of its P5 Par value common stock having market value
What amount would the donation cause shareholder equity : Bobcat Corporation received a donation of 2,000 shares. By what amount would this donation cause shareholder's equity to decrease?
Which amount is the correct cost sales figures : The normal capacity of an entity is 350 000 units per annum. Which amount is the correct cost sales figures if the actual production was 280 000 units
What should be the current balance of retained earnings : What should be the current balance of retained earnings? Excess of proceeds over cost of treasury stocks sold P140,000. Total cash dividends paid P260,000
What amount should be reported as unappropriated retained : The entity had 400,000authorized shares of P 5 par value, What amount should be reported as Unappropriated retained earnings on December 31, 2013?
What is the equity component of the issuance : On January 1, 2019, Silakbo Company issued 1,000 convertible bonds. What is the equity component of the issuance
How much is the total loss on realization for bench : How much is the total loss on realization? Lee and Bench are partners having the following capital balances of P 11,200, P13,000 and P5,800 respectively.

Reviews

Write a Review

Financial Accounting Questions & Answers

  For foreign tax credit purpose

USAco, a domestic corporation, has a branch in Canada. The functional currency of the Canadian branch is the Canadian dollar (C$). The Canadian branch pays C$100,000 of Canadian income taxes during the taxable year. For foreign tax credit purposes, U..

  Find ending inventory assuming weighted-average cost would

Find Ending inventory assuming weighted-average cost would be: (Round weighted-average unit cost to 4 decimal places and final answer to the nearest)

  Make a tabular analysis of the september transactions

Prepare a tabular analysis of the September transactions beginning with August 31 balances. (If a transaction causes a decrease in Assets, Liabilities)

  What amount of cash did harlem receive from customers

Sales for Harlem Tool & Die during 20X1 were $600,000, 75% of them on credit and 25% for cash. During the year, accounts receivable increased from $56,000 to $67,000, an increase of $11,000. What amount of cash did Harlem receive from customers durin..

  Accounting principle changes is an interesting topic

Accounting principle changes is an interesting topic to deal in accounting because of its advantages and disadvantages. Please elaborate how the company has handled the change and how it was shown in the financial statements.

  Dividend yield equals

A company paid $0.80 in cash dividends per share. Its earnings per share is $4.52 and its market price per share is $26.00. Its dividend yield equals (Round you answer to 2 decimal places)

  What is the effect on the existing partners capital accounts

What is the effect on the existing partners' capital accounts if a bonus is paid to a new partner upon admission into the partnership?

  Calculate the balance of the fund on july 1

2000 is deposited into a newly opened fund on January 1, 1999.- Calculate the balance of the fund on July 1, 1999, immediately before the deposit is made

  Using the units of production method

A company purchased a delivery van for $30,000 with a salvage value of $6,000 on January one, Year 1. It has an estimated useful life of 6 years or 60,000 miles. The van was driven 13,000 miles in the first year. Using the units of production method,..

  What price can john sell the ownership

If he opens the restaurant at t=0 and sell entire ownership of the restaurant to Peter at t=0, with what price can John sell the ownership?

  What is terry basis in the sports memorabilia

What is Terry's basis in the sports memorabilia? Terry has basis in Bulldog Bar, a partnership, of $15,000. He received a distribution of a piece of appreciated

  How to calculate the bade debt expense

How to calculate the Bade debt expense. At the beginning of the current period, Splish Brothers Corp. had balances in Accounts Receivable of $190,800

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