All categories

3 years ago

Rockeagle Corporation began fiscal Year 2 with the following balances in its inventory accounts.

Business

1 answer:

irinina [24]3 years ago

4 0

Answer:

I solved this manually. please try to follow up with the calculations.

ending inventory balance of

a. Raw material = $31000

b. work in progress = $49000

c. finished goods = $19000

Explanation:

for raw material:-

balance at beginning 30,000 + purchase of 125000 - issue of 124000

= 30000+125000-124000

= 31,000

the ending balance is 31000

for work in progress inventory:-

beginning inventory 45000 + 124000 current cost of issued material + 162000 direct wages + overhead 24000

= 45000+124000+162000+24000

= $355000

we subtract 306000 costs of goods manufactured from this value

= $355000-306000

= 49000 wip ending balance

for finished goods inventory:-

begining inventory 14000 + 306000 costs of goods manufactured - 301000 costs of goods sold

= 14000+306000-301000

= $19000

2. schedule for costs of goods manufactured:-

beginning inventory 30000 + purchase 125000 - ending inventory

= 30000+125000-31000

= 124000

124,000+162000 labour cost+24000

total cost of manufacturing = 310000

310000+begining wip of 45,000 - ending inventory of 49000

= 310000+45000-49000

= 306,000 costs of goods manufactured

we add this value to beginning inventory of finished goods-ending inventory

= 306000+14000-19000

= $301000 costs of goods sold

3. income statement:-

revenue of 400000 - 301000 costs of good sold = 99000

99000-36000 selling expenses

= $63000

You might be interested in

Click on the BACKPACK tab and add any options that you believe will align with the needs of the LUXURY TRENDFOLLOWER segment. Yo

Nadya [2.5K]

Now click on the BACKPACK tab. As you select each layout issue, you'll upload the DESIRABILITY of your backpack and its manufacturing cost. the first is to have a function DESIRABILITY of a minimum of ninety%.thât as you make alternatives, your backpack STATS and Production cost will trade.

Production cost discusses all the direct and oblique charges groups face from the production of a product or presenting a service. production expenses can include a ramification of prices, such as hard work, uncooked substances, consumable production components, and fashionable overhead.

The price of production is the full fee incurred by using a business to either produce a product or offer their services. manufacturing fees typically include materials and uncooked substances which can be consumed during manufacturing, at the side of labor costs.production value components = Direct exertions + Direct fabric + Overhead charges on manufacturing.

Learn more about Production costs here:

brainly.com/question/25109150

#SPJ1

3 0

1 year ago

firms should emphasize the importance of consistently good customer service to its employees so that good customer service becom

ipn [44]

Firms should emphasize the importance of consistently good customer service to its employees in order that good customer service becomes a part of the organizational culture.

Organizational culture is that the collection of values, expectations, and practices that guide and inform the actions of all team members. consider it because the collection of traits that make your company what it's. a good culture exemplifies positive traits that result in improved performance, while a dysfunctional company culture brings out qualities that may hinder even the foremost successful organizations. Organizational culture affects all aspects of your business, from punctuality and tone to contract terms and employee benefits. When workplace culture aligns together with your employees, they’re more likely to feel softer, supported, and valued. Companies that prioritize culture may also weather difficult times and changes within the business environment and are available out stronger.

Learn more about Organizational culture.

brainly.com/question/16049983.

#SPJ4

6 0

1 year ago

Because there isn't one single measure of inflation, the government and researchers use a variety of methods to get the most bal

inn [45]

Because there isn't one single measure of inflation, the government and researchers use a variety of methods to get the most balanced picture of how prices fluctuate in the economy. Two of the most commonly used price indexes are the consumer price index (CPI) and the GDP deflator. The CPI for this year is calculated by dividing the value of all goods and services produced in the economy this year using this year's prices by the value of all goods and services produced in the economy this year using the base year's prices and multiplying by 100. However, the GDP deflator reflects only the prices of all goods and services bought by the consumers.

Explanation:

GDP is the gross domestic product of a country which specifies the level of growth of the country. The value of the goods and the services of the country produced by the people of the country are all reflected in the gross domestic product of the country.

Greater the rate of GDP is of a particular country, higher would be the growth of the country. It is also used as a measure of comparison of the growth rate of the country.

5 0

3 years ago

For a particular good, a 12 percent increase in price causes a 3 percent decrease in quantity demanded. Which of the following s

Charra [1.4K]

Answer:

b.The good is a necessity

Explanation:

The price elasticity of demand = percentage change in quantity demanded/ percentage change in price

3% / 12% = 0.25

When the coefficient of elasticity is less than one, demand is inelastic.

Inelastic demand means that when price increases, there is little or no change in quantity demanded.

Necessity goods are goods that are very important to consumers and thus they tend to have an inelastic demand. For example, medications.

Substitute goods are goods that can be used in place of another good because of their similarity. E.g. butter and margarine

Goods with many substitutes have an elastic demand. If price of a good increases, consumers can easily shift consumption to substitute goods.

Narrowly defined goods have an elastic demand because it is easier to find subsituites for such goods.

Demand is more elastic in the long run because consumers have more time to search for substitutes.

I hope my answer helps you

3 0

2 years ago

Christie, a marketing executive who was born in 1955, advocated that her company focus on a print campaign for its new line of l

Gemiola [76]

Answer:

The correct answer is the option C: Baby Boomer.

Explanation:

To begin with, the term ''baby boomer'' refers to the demographic cohort regarding the generation of people born in the period called ''baby boom'', that occured in some was after the Second World War and comprehends the years between 1946 until 1964. Moreover, the main characteristic of this period was that around 76 million babies were born in America and that an excessive consumerism began to spread.

To continue, the action that Christie advocates is very common to a person of the baby boom generation due to the fact that those people born and grew in times that there was no internet and therefore they tend to give no importance to the online ads and stuff like that.

8 0

3 years ago