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Masteriza [31]
2 years ago
7

Prepare schedules of cost of goods manufactured and cost of goods sold.

Business
1 answer:
Aneli [31]2 years ago
3 0

How to prepare schedules of cost of goods manufactured and cost of goods sold is explained below.

The cost of goods manufactured (COGM) is a calculation used to determine whether production costs are excessively high or excessively low when compared to revenue.

The equation computes the manufacturing costs associated with goods completed during a specific time period.

In other words, the total cost for a company to convert inventory into finished product.

Management can analyze each individual player in the COGM formula by having a clear picture of what a company is manufacturing.

The company's net income can then be maximized by making adjustments.

Overall, COGM provides critical information to the company: cost elements.

Furthermore, COGM contributes to a company's overall clarity and planning.

It enables the company to plan and modify its product pricing strategy.

It provides an accurate year-to-year comparison of manufacturing operations.

It will allow for the planning of resource use and output volume for each period.

The schedule of cost of goods manufactured and cost of goods sold is given in the attached image.

Hence, refer to the image to know about schedules.

Learn more about cost of goods manufactured:

brainly.com/question/14610175

#SPJ4

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g How would you define the role of human resources in your organization? How does it compare with the information in this week's
emmasim [6.3K]

Answer:

Hello, you didn't attach the readings referenced in the question, so I'd give you a robust response that would speak to any scenario.

A) The role of Human Resources in my organization is very crucial to the attainment of that company's organizational objectives.

Here's why.

Business goals and strategies, no matter how excellently designed, cannot execute themselves. Human capital is required to drive them. Even in the age of Artificial Intelligence, there is a need to provide such a system with the type and quantity of data that it requires to deliver at the level required of it.

Human Resource executives are people who are disciplined by virtue of rigorous processes to identify and resolve problems associated with having Human Capital.

These include but are not limited to

  • Recruitment
  • Learning and Development
  • Compensation and Benefits
  • Compliance with Labour Law
  • Analytics and Metrics based Performance Management
  • Insurance/Assurance
  • Employer Brand Management
  • HR Planning

Getting it wrong with any of the above could prove detrimental to the health of any organization regardless of how excellent the products or services are.

Recruitment for instance has to do with attracting the right person for the right role at the right time and at the right cost to the company.  If the wrong person was hired, it always comes with a lot of cost such as:

  • Cost of replacement
  • Time lost
  • Cost in some cases related to reputation management
  • Cost of training the new employee
  • Energy expended in managing employee morale etc
  • The wrong person can in extreme cases cripple an organization by either intentionally or inadvertently exposing it to huge liabilities

B) The role of the HR personnel is increasingly becoming advanced and integrated into other business areas such as Insurance and Assurance. HR personnel are now required to understand Life Insurance Products as well as how the Health Management System works.

Labor Law is another critical aspect of the HR process. Labour law itself is evolving as the world increasingly becomes smaller via the use of technology. Remote jobs mean that companies can now leverage technology to employ someone from a different time zone, a different set of Labour laws, and different cultures because it makes economic sense to do so. The HR must now come to grasp the new understanding that it takes to ensure that the Human Capital remains optimized, in the face of these rapid changes.

In addition, Artificial Intelligence is changing the role of the Human Resource executive as regards succession planning. It is no longer feasible to plan 10 years ahead into the future because the rate at which technology is taking over jobs with ease, delivering at unprecedented levels of effectiveness and efficiency (that is, high output at relatively lower costs) is amazing and scary at the same time.

Rather than groom people to take over from people, the HR personnel is now presented with the problem of helping people stay relevant within the system by ensuring that they add skills that are required in the ever-changing universe of the Labour Market.

C) Supervisors and Managers need HR to make the most of their careers. They can do this by sharing information regularly especially with regard to the challenges they face in their work as managers and supervisors as well as their personal growth track.

The reason is this: HR is trained to see differently. Their job is to maximize the efficiency of those who do the job regardless of their status or cadre.

The Job of the HR is to identify and solve these type of problems. Isolating one's self from the benefits of the HR's office is detrimental and not otherwise.

Cheers

3 0
3 years ago
North Company sells a single product. The product has a selling price of $30 per unit and variable expenses of 70% of sales. If
zavuch27 [327]

Answer:

$200,000

Explanation:

Given:

Selling price = $30

variable expenses = 70% of  = 70% of $30 = $21

Fixed cost = $60,000

Computation of contribution margin :

Contribution\ margin = \frac{Selling\ price-variable\ expenses}{Selling\ price}\\\\Contribution\ margin = \frac{30-21}{30}\\\\Contribution\ margin = 0.3\\\\

Computation of break-even sales:

Break-even sales = Fixed cost / contribution margin

Break-even sales = $60,000 / 0.3

Break-even sales = $200,000

5 0
3 years ago
Use the dividend growth model to determine the required rate of return for equity. Your firm recently paid a dividend of $2.25 p
lora16 [44]

Answer:

the required rate of return using the dividend growth model is 8.6%

Explanation:

The computation of the required rate of return using the dividend growth model is as follows;

The Required return is

= (Dividend at year 1 ÷ Current price per share) + Growth rate

= ($2.25 ÷ $40.2) + 0.03

= 8.6%

Hence, the required rate of return using the dividend growth model is 8.6%

We simply applied the given formula

4 0
3 years ago
Max lives in boston and earns $132,500 per year. if max decides to move to san francisco, what annual salary will he need to mak
Alex Ar [27]

According to bestplaces.net, San Francisco is 67.8% more expensive than Boston. This means, if Max is making 132,500 in Boston he would need 132,500*1.678 = 222,335 in San Francisco to maintain the same real wage.

7 0
3 years ago
Acme Partnership reported the following items of income and expense: Sales $200,000 Cost of goods sold 115,000 Interest expense
Yanka [14]

The amount that ACME Partnership should report as ordinary income is $83,000.

Data and Calculations:

Sales Revenue =          $200,000

Cost of goods sold =       115,000

Gross profit =                 $85,000

Administrative expenses  2,000

Operating income =    $83,000

Interest expense             13,000

Taxable income           $70,000

Charitable contributions 2,000

Long-term capital gain  10,000

The operating income is the ordinary income before determining the eligibility of the charitable deductions and the long-term capital gain.

Thus, the ordinary income of ACME Partnership is $83,000.

Learn more: brainly.com/question/25056982

4 0
2 years ago
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