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2 years ago

Peters Manufacturing Company has the following data at June 30, 2019:

Business

1 answer:

nignag [31]2 years ago

5 0

Answer:

Gross Profit $ 74,000

Cost of Goods sold $ 506,000

Explanation:

Peters Manufacturing Company

Income Statement

June 30, 2019

Sales $580,000

Total manufacturing costs 430,000

Add Work in process inventory, June 1 18,100

Cost of Goods Available for Manufacturing 548,100

Less Work in process inventory, June 30 30,400

Cost Of Goods Manufactured 517,700

Add Finished goods inventory, June 1 43,500

Cost Of Goods Available for Sale 561,200

Less Finished goods inventory, June 30 55,200

Cost of Goods sold $ 506,000

Gross Profit $ 74,000

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Silver Inc. has budgeted production costs of $3,000,000, budgeted beginning finished goods inventory of $390,000, and budgeted e

Pavlova-9 [17]

Answer:

Budgeted cost of goods sold = $3,150,000

Explanation:

Given:

Budgeted beginning finished goods inventory = $390,000

Budgeted production costs = $3,000,000

Budgeted ending finished goods inventory = $240,000

Find:

Budgeted cost of goods sold

Computation:

Budgeted cost of goods sold = budgeted beginning finished goods inventory + budgeted production costs - budgeted ending finished goods inventory

Budgeted cost of goods sold = $390,000 + $3,000,000 - $240,000

Budgeted cost of goods sold = $3,150,000

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2 years ago

Annuity payments are assumed to come at the end of each payment period (termed an ordinary annuity). However, an exception occur

o-na [289]

Answer:

The future value of a 18-year annuity of $2,000 per period where payments come at the beginning of each period is $59,078.

Explanation:

We apply the formula to calculate future value of annuity to find the future value of 18-year annuity as at the beginning of year 18 ( because payment comes at the beginning of the year):

2,000/5% x (1.05^18 -1) = $56,264.77.

We further compound the future value of 18-year annuity as at the beginning of year 18 for one period to come up with the future value of this annuity as at the end of 18 year time:

56,264.77 x 1.05 = $59,078.

So, the answer is $59,078.

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3 years ago

What is the most important thing about meeting new contacts

Dahasolnce [82]

I think A. Because I think it is very important to meet new people and getting to know them.

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3 years ago

Read 2 more answers

Exhibit 4.1 The balance sheet and income statement shown below are for Koski Inc. Note that the firm has no amortization charges

yuradex [85]

Answer:

Koski Inc.

Quick Ratio:

Quick Ratio = (Current Assets - Inventory) divided by Current Liabilities

Quick Ratio = $(23,595 - 12,480) / $(17,160 -5,460)

Quick Ratio = 11,115 / 11,700 = 0.95

Explanation:

The quick ratio is a financial metric that shows the short-term liquidity position of a company. It measures the company's ability to settle its short-term obligations using its most liquid current assets. The most liquid assets are cash and near cash current assets.

Inventory is always removed in calculating the most liquid current assets. Inventory will take some time before it can be converted to cash or near cash, given the cash conversion cycle.

The quick ratio is also called the acid-test ratio. It is also considered as more conservative than the current ratio which measures the coverage of current liabilities by all current assets, including inventory.

In our workings, we eliminated inventory from current assets. We also eliminated notes payable which would be rolled over the next year.

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2 years ago

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Answer:

1. Communication Services.

2. File Transfer.

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4. Directory Service.

5. Information Retrieval Services.

6. Automatic Network Address Configuration.

Explanation:

I hope it helps! Have a great day!

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