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Tasya [4]
3 years ago
11

Compute cost of goods sold for 2015 using the following information. Finished goods inventory, Dec. 31, 2014 $ 345,000 Work in p

rocess inventory, Dec. 31, 2014 83,500 Work in process inventory, Dec. 31, 2015 72,300 Cost of goods manufactured, 2015 918,700 Finished goods inventory, Dec. 31, 2015 283,600
Business
1 answer:
lord [1]3 years ago
3 0

Answer:

$991,300

Explanation:

Given that,

Finished goods inventory, Dec. 31, 2014 = $345,000

Work in process inventory, Dec. 31, 2014 = $83,500

Work in process inventory, Dec. 31, 2015 = $72,300

Cost of goods manufactured, 2015 = $918,700

Finished goods inventory, Dec. 31, 2015 = $283,600

We need to calculate cost of goods manufactured first.

Cost of goods manufactured:

= Cost of goods manufactured, 2015 + Beginning work in process inventory - Ending work in process inventory

= $918,700 + $83,500 - $72,300

= $929,900

Cost of goods sold for 2015:

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

= $345,000 + $929,900 - $283,600

= $991,300

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Calculate the future value of $7,000 in four years at an interest rate of 8% per year.
OLga [1]

The Future value is $9523.42. Future value is the amount of money that, when invested now at an interest rate, will eventually grow to be.

<h3>What is the Future Value of Money?</h3>

Future value is the amount of money that, when invested now at an interest rate, will eventually grow to be.

Calculation of Future value

Present Value = $7,000     interest rate = 8%     Time = 4 years

FV = Future Value                PV = Present Value

FV=PV(1+i)ⁿ

FV= 7,000(1+0.8)⁴= $9,523.42

Thus, the Future Value of $7,000 for four years is $9523.42.

Learn more about Future Value here:

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4 0
2 years ago
Christopher has hired a real estate broker to help facilitate the sale of his home. Realizing that Christopher is most likely go
kari74 [83]

Answer:

4.0%

Explanation:

Given that gross sale value = $364,583

And net sale value after commission = $350,000

The commission paid to the broker = $364,583 less $350,000 = $14,583.

Therefore the commission rate

= \frac{Dollar Commission}{Gross Sale Value}

= 14,583/364,583

= 4.0%.

The brokers commission is usually computed on the Gross Sale Value, and not the net sale value.

3 0
3 years ago
The board of directors of Yancey Company declared a cash dividend of $1.50 per share on 42,000 shares of common stock outstandin
Ivahew [28]

Answer:

<em>Increase to Cash dividends</em>

Explanation:

The entry on declaration of dividend is Retained earnings debit and credit is given to dividend payable. The cash dividend will increase to shareholders as a result of this action. The dividend payable will increase. Cash is not affected when dividends is declared. Cash is affected only when dividend is paid on August 15, 2017. Cash dividend will not decrease since dividend is paid it will increase. There are total 2 entries passed one on July 15th for dividend declaration and on August 15th for dividend payment. The record date of July 31 is only for determining which shareholders are eligible for dividend and no entry is needed.

5 0
2 years ago
In the year prior to going public, a firm has revenues of $20 million and net income after taxes of $2 million. The firm has no
Andru [333]

Answer:

peeeeeeepeeeeeepoooooopooooo

Explanation:

pewdiepie yo wassup is the distributor for me and I can come up to that point of the amount I will be doing m and the 66 week will invite you have the opportunity for the best of all time back side and kamil only for a few days to make sure you have your favourite food and food in your own garden area and the server will come to know about your sum and kamil and you can see fakree in a prank or a new channel on your own and kamil has been on his UE since his id and his first video in a year I have to say sorry to the bank and his wife and the rest is a very 777 month old version do not have 6AM 6 or not the other did you call it was yummy but not too good for the price of a prank or somethings else's today before seven instagram accounts restaurant's Instagram and smallville size bar with me and my friends in my house

8 0
3 years ago
I want to take a survey of students at my university to find out what proportion like the new bus service on campus. how many wi
laiz [17]

Answer:

N = 3,120 (Approx)

Explanation:

Given:

z- score for 99% confidence = 2.58

Proportion (P) = 75% = 75 / 100 = 0.75

E = 2% = 0.02

Q = 1 - P = 1 - 0.75 = 0.25

Computation:

N = (Z/E)^2 \times pq

N = (2.58/0.02)^2 \times (0.75 \ times 0.25)

N = (129)^2 \times (0.1875)

N = (16,641) \times (0.1875)

N = 3,120.1875

Therefore, N = 3,120 (Approx).

5 0
3 years ago
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