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Aleksandr-060686 [28]
3 years ago
10

After a computer failure, you are trying to reconstruct some financial results for the year just ended. While you know that back

ups are available, it will take too long to get the information you want. You have been able to collect the following information. Direct materials inventory, January 1 (Beginning) $ 2,800 Direct materials inventory, December 31 (Ending) 2,360 Work-in-process inventory, January 1 (Beginning) 4,990 Work-in-process inventory, December 31 (Ending) 2,510 Finished goods inventory, December 31 (Ending) 3,500 Manufacturing overhead 5,710 Cost of goods manufactured during this year 21,940 Total manufacturing costs 19,460 Cost of goods sold 21,900 Direct labor 3,160 Average sales price per unit 2 Gross margin percentage 37.00 % Required: a. Find the finished goods inventory, January 1. b. Find the direct materials used for the year. c. Find the Sales revenue.
Business
1 answer:
Naily [24]3 years ago
7 0

Answer: The answers are given below

Explanation:

a. Find the finished goods inventory, January 1.

The cost of good sold will be:

= (cost of good manufactured + finished good inventory beginning) - finished good inventory ending

$21,900 = $21,940 + finished good inventory beginning - $3500

Finished good inventory beginning will now be:

=$21900 - $21,040 + $3500

Finished good inventory January 1 = $4,360

b. Find the direct materials used for the year.

The total manufacturing cost will be:

= direct material + direct labour + manufacturing overhead

$19,460 = direct material + $3160 + $5710

Direct material = $19,460 - $3160 - $5710

Direct material = $10,590

c. Find the Sales revenue.

Gross margin will be :

= Sales revenue - cost of good sold

Let the sales revenue be y

Therefore,

37% of y = y - $21,900

0.37y = y - $21,900

y - 0.37y = $21,900

0.63y = $21,900

y = $21,900/0.63

y = $34,761.9

y = $34,762 approximately

The sales revenue is $34,762

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Fynjy0 [20]

Answer:

Cause of a "Prior Period Adjustment in 2025 Statement of Retained Earnings:"

A. Failure to Accrue Revenue at 12/31/24, but not 12/31/21 Depreciation Overstatement.

Explanation:

A company's failure to accrue revenue in accordance with the accrual concept and revenue recognition principle means that there is a "Prior Period Error" which must be corrected retrospectively in the financial statements (Retained Earnings).  Retrospective restatement involves the correction of the error arising from the recognition, measurement, and disclosure of amounts of elements of financial statements.  The restatement is done as if a prior period error had never occurred.

5 0
3 years ago
19. Regarding alternate backup sites, which of the following is a low-cost site?
dlinn [17]

Answer:

The correct option is C

Explanation:

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In short, it is stated as an office for the sites which needed or required backup because it have the required equipment, which will resume or direct the operations. But there is problem that it  does not happen always or regularly.

So, the one which is a cost site that is very low is the cold site as it does not support the requirements of the quicker recovery.

7 0
3 years ago
What factors , other than tax incentives, should companies evaluate before deciding to invest in a particular country ?
Reptile [31]

Two main risk sources need be considered when investing in a foreign country:

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Political risk: This risk refers to the political decisions made within a country that might result in an unanticipated loss to investors. While economic risk is often referred to as a country's ability to pay back its debts, political risk is sometimes referred to as the willingness of a country to pay debts or maintain a hospitable climate for outside investment. Even if a country's economy is strong, if the political climate is unfriendly (or becomes unfriendly) to outside investors, the country may not be a good candidate for investment.</span></span><span>


I hope my answer has come to your help. Thank you for posting your question here in Brainly. We hope to answer more of your questions and inquiries soon. Have a nice day ahead!</span>
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Paha777 [63]

Answer:

A) True

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The purpose of creating a portfolio is to diversify investment and achieve risk reduction as famously conveyed by the proverb, "do not put all the eggs in a single basket".

The Capital Asset Pricing Model (CAPM) was developed by William Sharpe and John Lintner. The model explains the relationship between expected return of an investor and the investment risk.

Return earned by a portfolio is the weighted average return of the individual stock returns.

CAPM helps calculate expected return of an investor by the following formula:

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6 0
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dsp73
Changing prices to attract customers is most difficult in a "<span>purely competitive market"

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