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
Katena32 [7]
3 years ago
6

Mustang Corporation reports the following for the month of April:Finished goods inventory, April 1$32,600 Finished goods invento

ry, April 30 26,600 Total cost of goods manufactured 123,800The cost of goods sold for April is:a. $61,900.b. $124,500.c. $112,900.d. $173,700.e. $150,000
Business
1 answer:
weeeeeb [17]3 years ago
4 0

Answer:

COGS= $129,800

Explanation:

Giving the following information:

Finished goods inventory, April 1$32,600  

Finished goods inventory, April 30 26,600

Total cost of goods manufactured 123,800

<u>To calculate the cost of goods sold, we need to use the following formula:</u>

COGS= beginning finished inventory + cost of goods manufactured - ending finished inventory

COGS= 32,600 + 123,800 - 26,600

COGS= $129,800

You might be interested in
Which of the following statements about goods is FALSE? Question 1 options:
anyanavicka [17]

Answer:

C) Goods-producing firms focus on the flow of people, information, and services.

Explanation:

Goods-producing firms not necessarily needs to focus on the flow of people, information, and services, what is true is that firms use physical inventory because it's necessary to have available products to sale.

The facilities must be located close to raw material, suppliers, and labores if not the company will see the cost of sale increased by logistic costs.

Also it's important to have employees with strong technical and production skills so the company can get well products at the production line.

8 0
3 years ago
Clay’s Forging at Canal Fulton wants to determine its inventory management performance during its past year of operations. Refer
Tatiana [17]

Answer:

days on inventory 57 + collection cycle 163- payment cycle 63

CCCT = 157 days

Explanation:

The cash-to-cash measures the times from the company paid his good from the time it collect from the customer:

days inventory outstanding + collection cycle - payment cycle

<u>days inventory outstanding:</u>

\frac{365}{Inventory TO} = $Days on Inventory

Where:

\frac{COGS}{Average Inventory} = $Inventory Turnover

​where:

$$Average Inventory=(Beginning Inventory + Ending Inventory)/2

COGS                         $ 1,790,000

Beginning Inventory: $    273,000

Ending Inventory:      $   290,000

Average Inventory:   $     281,500

\frac{1790000}{281500} = $Inventory Turnover

Inventory TO 6.358792185

\frac{365}{6.35879218472469} = $Days on Inventory

Days on Inventory 57

<u>Collection cycle:</u>

\frac{Sales}{Average AP} = $AP Turnover

​where:

$$Average AP=(Beginning AP+ Ending AP)/2

Purchases:      1,575,000

Beginning AP:   227,500

Ending AP:         316,200

Average AP:      271,850

\frac{1575000}{271850} = $AP Turnover

\frac{365}{AP TO} = $payment cycle

AP TO 5.793636196

payment cycle 63

<u>Collection cycle</u>

\frac{Sales}{Average AR} = $AR Turnover

Sales 102,000

Average AR 45,500

\frac{102000}{45500} = $AR Turnover

\frac{365}{AR TO} = $collection cycle

AR TO 2.241758242

\frac{365}{2.24175824175824} = $collection cycle

collection cycle 163

5 0
3 years ago
Quinn has capacity to make 950,000 zippers per year, but due to a soft market, only plans to produce and sell 620,000 zippers ne
Gekata [30.6K]

Answer:

$22,500

Explanation:

The computation of the total cost saving is shown below:

= Cost saving × number of zippers needed

= $0.25 × 90,000 zippers

= $22,500

We simply multiply the cost saving with the needed zipper so that accurate amount can come

The cost saving would be

= Outside supplier price - transfer price

= $3.50 - $3.25

= $0.25

All other information which is given is not relevant. Hence, ignored it

8 0
3 years ago
Differentiate between micro hydro power and hydro power. ​
Fofino [41]

Answer: Hydroelectricity is a form of hydropower and is the most widely used form of renewable energy throughout the world. ... Hydro electricity extracted from water depends not only on the volume but on the difference in height between the source and the water's outflow.

Hope this helps...... Stay safe and have a Merry Christmas!!!!!!!! :D

Explanation:

4 0
2 years ago
Hitachi, Ltd., reports total revenues of ¥9,616,202 million for its current fiscal year, and its current fiscal year-end unadjus
BartSMP [9]

Answer:

a.

Debit Bad debts expense:¥28,464,808,000

Credit Allowance for doubtful account:¥28,464,808,000

b.

Debit Bad debts expense: ¥45,958,700,000

Credit Allowance for doubtful account: ¥45,958,700,000

Explanation:

a. The amount of bad debts expense assuming uncollectibles:

0.4%x¥9,616,202,000,000=¥38,464,808,000

Unadjusted trial balance reports a credit balance of ¥10,000 million for the allowance for doubtful accounts, Hitachi must recording the difference amount: ¥38,464,808,000-¥10,000,000,000=¥28,464,808,000

b.The amount of bad debts expense assuming uncollectibles:

2.0%x¥2,797,935,000,000=¥55,958,700,000

Unadjusted trial balance reports a credit balance of ¥10,000 million for the allowance for doubtful accounts, Hitachi must recording the difference amount: ¥55,958,700,000-¥10,000,000,000=¥45,958,700,000

6 0
2 years ago
Other questions:
  • As part of his job, joseph has been observing ipod users as they manipulate both the standard and multi-touch interface models a
    7·1 answer
  • Precision Dyes is analyzing two machines to determine which one it should purchase. The company requires a rate of return of 15
    8·1 answer
  • Presented below is information related to equipment owned by Porto Company on December 31, 2017. Cost $5,600,000 Accumulated dep
    6·1 answer
  • Why do bank panics worsen asymmetric information problems in credit markets?
    5·1 answer
  • Service Department Charges In divisional income statements prepared for Demopolis Company, the Payroll Department costs are char
    13·1 answer
  • The St. Louis Symphony is an example of what type of organizational customer? A. Government B. Wholesaler C. Intermediary D. Res
    8·1 answer
  • Dena's Decorations is a South Carolina business that has a SUTA rate of 3.6% and an annual SUTA wage base of $14,000. The employ
    6·1 answer
  • Which of the following would help in the creation of a visual workplace?
    6·1 answer
  • WILL GIVE BRAINLIEST, TRUE OR FALSE QUESTION
    14·2 answers
  • In the balance of payments accounts, goods and financial assets that migrants bring to a country are included in the:_______.
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!