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2 years ago

Beginning inventory plus net purchases is:

Business

2 answers:

klemol [59]2 years ago

7 0

Answer:

merchandise available for sale , also known as cost of goods available for sale

Explanation:

you can use this formula to understand better :

Cost of Goods Available for sale = Opening Saleable Inventory + Finished Goods Produced during the period + Any Merchandise Acquired during the period.

Hope this helps...

Greeley [361]2 years ago

3 0

Beginning inventory plus net purchases provides the available inventory for sale or also known as the cost of goods available for sale.

If the cost of goods available for sale is deducted from closing inventory then it will provide the cost of goods sold during the period.

<h3 />

Inventory is the current asset for a company

What is Inventory?

Inventory is the sum of products that are manufactured by an organization to be sold to consumer at a market price.

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Learn more about Inventory at brainly.com/question/27908790

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At May 31, 2017, the accounts of Lopez Company show the following.

frosja888 [35]

Answer:

a. cost of goods manufactured schedule.

Direct materials $62,400

Direct labor $50,000

Manufacturing overhead applied $40,000

Add Opening work in process Inventory $14,700

Less Closing work in process Inventory ($15,900)

Cost of goods manufactured $151,200

b. income statement for May

Sales Revenue $215,000

Less Cost of Goods Sold :

Opening finished goods Inventory $12,600

Add Cost of goods manufactured $151,200

Less Closing finished goods Inventory ($12,600) ($176,400)

Gross Profit $38,600

c.presentation of the manufacturing inventories

raw materials $7,100

work in process $15,900

finished goods $9,500

Total Inventory $32,500

Explanation:

a.Cost of Goods Manufactured schedule included all the manufacturing costs incurred during production.

b.The Income statement is used to calculate gross profit as Sale less Cost of Sales.

c.The manufacturing inventories are presented in the balance sheet in their older of liquidity starting with the least liquid category.

7 0

3 years ago

Rice Company has a unit selling price of $730, variable costs per unit of $500, and fixed costs of $208,400. Compute the break-e

DaniilM [7]

Answer:

Rice Company

a) Break-even point in units using the mathematical equation = 906 units

b) Break-even point in units using the unit contribution margin = 906 units

Explanation:

a) Data and Calculations:

Selling price per unit = $730

Variable costs per unit = $500

Contribution margin per unit = $230 ($730 - $500)

Fixed costs for the period = $208,400

Break-even point in units:

a) Mathematical equation:

(Total Revenue = Expenses at the BEP)/

Profit = Selling price − Variable Expenses − Fixed Expenses

$ 0 = Unit CM * Q − Fixed expenses

$ 0 = $ 230 * Q − $208,400

$208,400 = $230 * Q

= $230Q = $208,400

= Q = $208,400/$230

= 906 units

b) Unit contribution margin:

Break-Even point (units) = Fixed Costs ÷ (Sales price per unit – Variable costs per unit)

= $208,400/ ($730 - $500)

= 906 units

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3 years ago

One approach to reducing project length would be to: Group of answer choices Eliminate tasks on the critical path. Use hammock a

xxMikexx [17]

Answer:

the correct answer is Eliminate tasks on the critical path.

Explanation:

Critical path is the set of activities which are essential or "critical" for the success of the process. If we truly need to reduce the length of a project, we should find innovative ways to reduce the number of critical processes in the critical path.

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3 years ago

Tim wants to purchase a new computer and go to the Caribbean for spring break. The computer is priced at $1,299, and the vacatio

Luda [366]

Answer:

Tim can easily determine that the price of the computer is more than the price of the vacation = Unit of Account

Tim has $1,537 in his checking account = Store of value

Tim writes a check for $1,299 = Medium of Exchange

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3 years ago

Spending plans are divided into three categories with roughly ______% of the after tax budget going to the category of needs and

kati45 [8]

Spending plans are divided into three categories with roughly 50 % of the after tax budget going to the category of needs and 30% of the after tax budget going to wants, with the rest going to 20 % .

<h3>What is the 50-30-20 budget method?</h3>

The 50-30-20 approach that is often used in budgeting is known to be one one the of the simplest and very straight way in the aspect of money management options.

Note that this ideal is often made for those who need to form a budget but they are said to not possess the time or the patience to be able to keep track of their spending in a well detailed manner.

The ways is that one need to spend 50 percent of their after-tax pay on needs, 30 percent in regards to wants, and the last 20 percent in regards to savings or paying off any kind of debts.

Hence, Spending plans are divided into three categories with roughly 50 % of the after tax budget going to the category of needs and 30% of the after tax budget going to wants, with the rest going to 20 % .

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5 0

2 years ago