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ira [324]
3 years ago
11

On July 1, Robles Metal Products had a beginning inventory of $505,700. During the quarter, goods costing $290,900 were manufact

ured. The inventory at the end of September was $485,300. During the quarter, Robles' net sales were $759,200. What was the cost of goods sold for the quarter? What was Robles's gross profit for the quarter?
Business
1 answer:
irga5000 [103]3 years ago
7 0

Answer:

Instructions are below.

Explanation:

Giving the following information:

beginning inventory= $505,700

Cost of goods manufactured= $290,900

Ending inventory= $485,300

Net sales= $759,200.

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

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

COGS= 505,700 + 290,900 - 485,300

COGS= $311,300

Now, we can determine the gross profit:

Gross profit= net sales - COGS

Gross profit= 759,200 - 311,300

Gross profit= 447,900

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Ayayai Inc. had the following balance sheet at December 31, 2019.
Mrrafil [7]

Answer:

(a) Increase in cash = $50,200

(b) Total Assets =  Liabilities and Stockholders' Equity = $298,900

Explanation:

Note: There are errors as date and name inconsistency in the requirements in this question. The requirements are therefore correctly stated before answering the question as follows:

(a) Prepare a statement of cash flows for the year 2020 for Ayayai Inc.

(b) Prepare the balance sheet as it would appear as of December 31, 2020.

The explanation of the answer is now provided as follows:

(a) Prepare a statement of cash flows for the year 2020 for Ayayai Inc.

Note: See part (a) of the attached excel file for the statement of cash flows for the year 2020 for Ayayai Inc.

In the attached excel file, we have:

Increase in cash = $50,200

(b) Prepare the balance sheet as it would appear as of December 31, 2020.

Note: See part (b) of the attached excel file for the balance sheet as it would appear as of December 31, 2020.

In the attached excel file, we have:

Total Assets =  Liabilities and Stockholders' Equity = $298,900

Download xlsx
8 0
2 years ago
Which of the following principles underlies the interaction of individual choices? a Marginal analysis is used for "how much" de
GalinKa [24]

Answer:

d There are gains from trade.

Explanation:

A trade can be defined as the process that typically involves the buying and selling of goods and services between a buyer (consumer) and a seller (producer).

Thus, trade creates an enabling environment that suits a specific service provider or producer of a particular product.

Basically, the interaction of individual choices underlies the fact that there are gains from trade.

This ultimately implies that, as a result of the difference between human needs and wants, there is always an opportunity for various producers to manufacture goods and services to meet the needs or requirements of these customers.

6 0
3 years ago
Summarise the following passage in on more than 60w words and supply an appropriate title:every second,1 hectare of the world's
Inga [223]

Answer:

I don't know...

Explanation:

I'm sorry...............

7 0
2 years ago
An investor is given the two investment alternatives (Assets A and B) with the following characteristics: Asset Expected Return
kow [346]

Answer:

12.00%

Explanation:

As per the given question the solution of standard deviation of a portfolio is provided below:-

Standard deviation of a portfolio = √(Standard deviation of Product 1)^2 × (Weight 1)^2 + Standard deviation of Product 2)^2 × (Weight 2)^2 + 2 × Standard deviation of product 1 × Standard deviation of product 2 × Weight 1 × Weight 2 × Correlation

= √(0.165^2 × 0.6^2) + (0.068^2 × 0.4^2) + (2 × 0.6 × 0.4 × 0.165 × 0.068 × 0.7)

= √0.009801  + 0.0007398  + 0.00376992

= √0.01431076

= 0.119628592

or

= 12.00%

So, we have calculated the standard deviation of a portfolio by using the above formula.

3 0
2 years ago
Budgeted performance is a better criterion than past performance for judging​ managers." do you​ agree? why?
eimsori [14]
Not really, the budgeted performance is like an expectation of a work, which is still uncertain until the result comes, in other words, an opinion on a work; while the past performance was the fact, which came from the employee's work in the past few months. To judge the fact is better than an uncertain picture.
3 0
3 years ago
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