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
elixir [45]
3 years ago
11

Prepare the cost of goods sold section of the income statement at December 31, 2017, for each company in Merchandising Business

and Manufacturing Business.
Shown here are annual financial data at December 31, 2017, taken from two different companies.
Music World Retail Wave-Board Manufacturing Beginning inventory Merchandise $200,000Pinished goods $500,000 Cost of purchases 300,000Cost of goods manufactured 875,000 Ending inventory Merchandise 175,000Finished goods 225,000
Required: 1. Prepare the cost of goods sold section of the income statement at December 31, 2017, for each company in Merchandising Business and Manufacturing Business.
Business
1 answer:
Lady bird [3.3K]3 years ago
8 0

Answer: (a) $325,000

(b) $1,150,000

Explanation:

(a) For Music world retail:

Cost of goods sold = Goods available for sale - Ending merchandise inventory

                                = (Beginning merchandise inventory + Cost of purchases) - Ending merchandise inventory

                                = ($200,000 + $300,000) - $175,000

                                = $500,000 - $175,000

                                = $325,000

(b) For Wave-Board Manufacturing:

Cost of goods sold = Goods available for sale - Ending finished goods inventory

                               = (Beginning finished goods inventory +  Cost of goods manufactured) - Ending finished goods inventory

                                = ($500,000 + $875,000) - $225,000

                                = $1,150,000

You might be interested in
Choose a topic related to a career that interests you and think about how you would research that topic on the Internet. Set a t
I am Lyosha [343]

Answer:

Explanation:

Topic chosen is - HR manager, this position interest me because it would help to improve my managerial skills, it will as well help me to know other people and how to handle and understand them.

For this position, i went online for 15 min. collected information on job site like linkedin , monster, indeed, glassdoor etc. to gather as much information as possible.

From Linkedin i get to know the avg salary of HR manager is about $100,600 per annum.

From Indeed i was able get recent information of a job position vacancy for HR evecutive position in Tech company.

I wsa able to gather that HR manager position is for experienced person at least 3 years of experience and required many skills like planning, analytical, communication, technical skills. etc.

Within 15 mins of my research i had clear mind about my interest in HR and i gather information as where to start my my career

3 0
3 years ago
Jamarcus's employer pays 80 percent of his medical insurance. If the insurance costs Jamarcus $20 a week, how much is his employ
Mazyrski [523]
It's sixty positive must vote brainliest Xd
4 0
2 years ago
Complete each statement with the term that correctly defines.
Mashcka [7]

Answer:

a. Outperform.

b. Gatekeepers.

c. Leveraging.

d. Value creation.

e. Producer.

Explanation:

A platform can be defined as a type of business model that creates value or focuses on assisting participants by facilitating exchanges and interactions between two or more interdependent groups of participants, who are mostly consumers and producers of finished goods and services.

This simply means that, a platform usually creates an effective and efficient market or community network with needed resources, for better interaction and transaction among various participants. Some examples of a platform business are brainly, airbnb, apple, microsoft, uber etc.

The notable characteristics and advantages of a platform business are;

a. Platform businesses tend to frequently outperform pipeline businesses.

b. Platforms scale more efficiently than pipelines by eliminating gatekeepers.

c. Platform businesses leveraging digital technology can grow much faster.

d. Platforms unlock new sources of value creation and supply.

e. Feedback loops from consumers to the producers allow platforms to fine-tune their offerings and to benefit from big data analytics.

5 0
2 years ago
The daily sales of a peanut butter at Power's Grocery are normally distributed, with a mean of 12 jars and a standard deviation
Alenkasestr [34]

Answer:

d. 81

Explanation:

E(number of order) = E(X1) + E(X2) + 21 -4

                                = 12 + 12 + 17

                                = 41

Therefore, The store should order 81 .

3 0
3 years ago
Granting access to a user based upon how high up he is in an organization violates what basic security premise?
hodyreva [135]

Granting access to a user based upon how high up he is in an organization violates "the principle of least privileges."

As the principle of least privileges states that a person should be given only those privileges that are needed or are necessary to perform a specific job or task and nothing more.

The principle of least privileges states that you assign users the minimum set of privileges which they require to do their jobs, according to their roles.

The principle of least privilege prevents the spread of malware on your network. An administrator or superuser with access to a lot of other network resources and infrastructure could potentially end up spreading malware to all those other systems which he gets access to.

Hence, if the organization grants access to a user based upon how high up he is then the organization violates the principle of least privileges.

To learn more about the least privileges here:

brainly.com/question/27034248

#SPJ4

3 0
1 year ago
Other questions:
  • Jodi just described how Best Buy's new program required a very different way of defining work. Because the hours are no longer i
    9·1 answer
  • Whats an acrostic poem for economic
    7·1 answer
  • The agency relationship in corporate finance occurs:__________
    7·1 answer
  • Green Energy​ Inc., is a manufacturer of wind turbines. In the annual​ meeting, the directors are discussing the next​ year's op
    5·1 answer
  • Paul and his friend tori make decorative art out of silver spoons. They want to start a business that they can easily dissolve w
    9·1 answer
  • After the instructor has agreed to grant an Incomplete Grade, the student will have the whole academic year to complete the miss
    14·1 answer
  • Bannister Co. is thinking about having one of its products manufactured by a subcontractor. Currently, the cost of manufacturing
    8·1 answer
  • Jeff wants to ship a small order to his friend he places to order by phone and his package is delivered the same day which wareh
    5·1 answer
  • Imagine that you manage a toy store. You have one employee who does a fantastic job. Your other employee needs improvement. Choo
    15·1 answer
  • *WILL AWARD BRAINLIEST IF CORRECT!*
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!