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soldier1979 [14.2K]
3 years ago
7

In a cost reconciliation schedule, costs accounted for is computed by adding the cost of the beginning work in process and the c

ost of units transferred out. ending work in process and the cost of units started into production. beginning work in process and the cost of ending work in process. ending work in process and the cost of units transferred out.
Business
1 answer:
frozen [14]3 years ago
8 0

Answer:

ending work in process and the cost of units transferred out.

Explanation:

In a cost reconciliation schedule, costs accounted for is computed by adding the cost of the ending work in process and the cost of units transferred out.

The cost reconciliation schedule gives the relationship between total costs accounted for and total costs to be accounted for.

When the total costs accounted for equal the total costs to be accounted for, this is a cost reconciliation schedule.

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The beginning inventory at Midnight Supplies and data on purchases and sales for a three-month period ending March 31, are as fo
agasfer [191]

Answer:

Using LIFO:

TOTAL Sales : $19,875,500

COGS = $11,021,250

GROSS PROFIT = $8,853,750

Explanation:

KINDLY CHECK ATTACHED PICTURE

4 0
3 years ago
Assume that Crane Company uses a periodic inventory system and has these account balances: Purchases $630,000; Purchase Returns
Veseljchak [2.6K]

Answer:

Cost of goods sold =$61,5300

Gross Profit = $144,700

Explanation:

Given the information:

  • Purchase : $630,000
  • Purchase Returns and Allowances $25,700
  • Prchases Discounts $10,900
  • Freight-In $18,300
  • beginning inventory of $45,000
  • ending inventory of $64,600
  • net sales of $760,000

As we the, the fomular for total Goods Available for Sale

=   Beginning Inventory + Purchases + Freight-In - Purchase Returns and Allowances - Purchases Discounts

= $45,000 +  $630,000 + $18,300 - $25,700 - $10,900

= $67,9900

=> Cost of goods sold =  Total Goods Available for Sale - ending inventory

= $67,9900 - $64,600

= $61,5300

=> Gross Profit = Net sales - Cost of goods sold

= $760,000 - $61,5300

= $144,700

Hope it will find you well.

7 0
2 years ago
Read 2 more answers
Question 11 of 20
Inessa [10]

Answer: Gus should keep the files A. and D.

Explanation:

I don’t believe that he should keep B. due to D. showing an update to B. so, he shouldn’t keep B. so that he doesn’t get confused by both B. and D. being in the files.

8 0
1 year ago
g Liabilities of the commercial banking system include Question 69 options: A) deposits. B) loans and deposits. C) reserves and
netineya [11]

Answer:

A) deposits

Explanation:

In the case of the commercial banking system, the  liabilities is deposits as the deposit is the amount of the depositors

So as per the given situation, the option A is correct as the deposits represents the commercial banking liabilities

hence, all the other options are incorrect

Therefore, the same is to be considered

8 0
2 years ago
Suppose a perfectly competitive market is suddenly transformed into a monopoly (all competing firms are consolidated into a sing
Digiron [165]

just you know what it must be that i think

Explanation:

suppose a perfectly competitive market is sufdenly what think so

5 0
2 years ago
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