1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Alecsey [184]
2 years ago
15

Nadell Corporation reported the following data for the month of AprilInventory Beginning Ending Raw Materials $30,000 $32,000 Wo

rk in Process $20,000 $21,000 Finished Goods $39,000 $53,000If the company transferred $234,000 of completed goods from work in process to finished goods inventory during April, what was the cost of goods sold for the month?
Business
1 answer:
jeyben [28]2 years ago
7 0

Answer:

COGS= $181,000

Explanation:

Giving the following information:

Beginning Finished Goods= $39,000

Ending Finished Goods= $53,000

Cost of goods manufactured= 234,000 - 39,000= $195,000

<u>To calculate the cost of goods sold, we need to use the following formula:</u>

COGS= beginning finished inventory + cost of goods manufactured - ending finished inventory

COGS= 39,000 + 195,000 - 53,000

COGS= $181,000

You might be interested in
Martinez Corporation commenced operations in early 2020. The corporation incurred $48,500 of costs such as fees to underwriters,
igomit [66]

Answer:

See below.

Explanation:

Since the expenses are related to the formation of the business, we first capitalize these expenses and record them in our balance sheet as,

Debit Intangible Assets (Formation) by $48,500

Credit Cash/Bank by $48,500

This records an asset for the year of operation.

We amortize or depreciate these type of capitalized costs over a defined period of time. Assuming that we write off the entire cost by the end of first year we will record amortization as,

Debit Amortization expense/Income statement by $48,500

Credit Intangible Assets (Formation) by $48,500

Hope that helps.

7 0
3 years ago
If a borrower's monthly interest payment on an interest-only loan at an annual interest rate of 7.3% is $877, how much was the l
mihalych1998 [28]

Answer:

$144,200

Explanation:

7 0
2 years ago
Dr. wahls explains at great length the importance of diet to mitochondrial function, but if you had to simplify her message to f
Alla [95]

If the whole lecture about mitochondria was placed in a single tweet, it would be this one:

 

<span>“The mitochondria is the power house of the cell” A powerhouse that we all should be mindful about and to take care of our own.</span>

5 0
3 years ago
A.
borishaifa [10]

internet service providers

3 0
2 years ago
You manage a risky portfolio with an expected rate of return of 22% and a standard deviation of 35%. The T-bill rate is 6%. Your
muminat

Answer

The answer and procedures of the exercise are attached in the following archives.

Explanation  

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.  

Download xlsx
5 0
3 years ago
Other questions:
  • Both firms in a Cournot duopoly would enjoy lower profits if:
    15·1 answer
  • For each of the following transactions for New Idea Corporation, give the accounting equation effects of the adjustments require
    13·1 answer
  • A(n) _____ is elected by the stockholders of a corporation to oversee its general operation and set long-term objectives.
    8·1 answer
  • The Anti-Federalists wanted to
    9·2 answers
  • Wormwood, Ltd., produces a variety of furniture products. The planning committee wants to prepare an aggregate plan for the next
    14·1 answer
  • Charlie was standing outside his classroom talking on the phone when a friend heard him say, "Thank you for taking my call so qu
    13·1 answer
  • Assuming that the quantities of inventory on hand during the current year were sufficient to meet all demands for sales, a decre
    7·1 answer
  • What steps can you take to prevent yourself from being affected by a market correction? Explain.
    10·1 answer
  • (Check your book for an explanation of double counting costs) Consider Diego’s decision to go to college. If he goes to college,
    11·1 answer
  • Select the examples of Early Childhood Development and Services workplaces. Check all that apply. A hospital a private home an o
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!