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3 years ago

Unimart Precision Manufacturing

Business

1 answer:

Anarel [89]3 years ago

7 0

Answer:

Results are below.

Explanation:

Giving the following information:

Company 1:

Beginning inventory Merchandise $253,000

Cost of purchases 600,000

Ending inventory Merchandise 153,000

Company 2:

Beginning Finished goods $506,000

Cost of goods manufactured 930,000

Ending Finished goods 147,000

To calculate the cost of goods sold, we need to use the following formula:

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

Company 1:

COGS= 253,000 + 600,000 - 153,000

COGS= $700,000

Company 2:

COGS= 506,000 + 930,000 - 147,000

COGS= $1,289,000

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Use the following information and the indirect method to calculate the net cash provided or used by operating activities: net in

Pavel [41]

Using the indirect method, the net cash is $93,900

Solution:

Cash flow from Operating Activities
Net Income $85,300
Depreciation Expense $12,000
Gain on Sale of Land ($7,500)
Increase in Merchandise Inventory ($2,050)
Increase in Accounts Payable $6,150
---------------
Net Cash $93,900

Remember:
Increase in current assets (accounts receivables, inventory), it means subtract.
Decrease in current assets, means, add.
Increase in current liabilities (accounts payable, tax liabilities), it means add.
Decrease in current liabilities, means, subtract.

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3 years ago

When a firm operates under conditions of monopoly its price is:?

Amiraneli [1.4K]

Havent you played monoply?

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3 years ago

Total Product Cost and Per-Unit Product Cost Slapshot Company makes ice hockey sticks. Last week, direct materials (wood, paint,

umka21 [38]

Answer:

Total product cost for last week= $120,000

Unit cost per hockey= $240

Explanation:

Total product cost is the sum of direct material cost, direct labour and overhead

Direct material cost is the costs of all specific materials required to product a product. For example, wood, paint for making chairs.

Direct labour : the cost of the man hours used directly for the purpose of production. wages of carpenters working on the chairs. It is arrived as active hours used for production × wage rate per hour.

Overhead :Sum of the indirect costs. indirect costs. These include expenditures on materials , labour and expenses incurred not specifically for a particular product. Examples are, cost of detergent for cleaning the toilets, salaries of the accountant, rent of the factory, e.t.c.

Total product cost for last week

= $32,000 + $28,0000+ $60,000= $120,000

Cost per product = Total product cost/ units produced

Unit cost per hockey= $120,000/500= $240

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3 years ago

Theory of production

Helen [10]

Answer:

Theory of production, in economics, an effort to explain the principles by which a business firm decides how much of each commodity that it sells (its “outputs” or “products”) it will produce, and how much of each kind of labour, raw material, fixed capital good, etc., that it employs (its “inputs” or “factors of .

Explanation:

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2 years ago

The following data were taken from the records of Clarkson Company for the fiscal year ended June 30, 2017.Raw Materials Invento

konstantin123 [22]

Answer:

A) cost of goods manufactured schedule

Factory Insurance 4,700

Factory Utilities 29,100

Factory Machinery Depreciation 19,000

Direct Labor 147,750

Plant Manager`s Salary 65,600

Indirect Labor 26,560

Factory Property Taxes 9,810

Factory Repairs 1,600

Add Beginning Work in Process Inventory 26,800

Less Closing Work in Process Inventory (22,300)

Cost of Goods Manufactured $308,620

B) income statement through gross profit

Sales Revenue 564,000

Less Sales Discounts (4,700)

Net Sales 559,300

Less Cost of Goods Sold :

Finished Goods Inventory 98,200

Add Cost of Goods Manufactured 308,620

Less Closing Finished Goods Inventory (26,100) (380,720)

Gross Profit 178,580

C) current assets section of the balance sheet at June 30,2017

Current Assets

Raw Materials Inventory 46,000

Work in Process Inventory 22,300

Finished Goods Inventory 26,100

Accounts Receivable 27,100

Cash 35,600

Total Current Assets 157,100

Explanation:

Raw Materials Consumed in Production Calculation

Open a Raw Materials T - Account as follows :

Debit :

Opening Balance $51,100

Purchases $97,500

Totals $148,600

Credit :

Closing Balance $46,000

Requisitioned for Production (Balancing figure) $102,600

Totals $148,600

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3 years ago