Answer:
390,000
Explanation:
The cost of goods sold is the expense incurred in producing goods to be sold in a period. It is abbreviated as COGS.
The cost of goods sold is calculated using the formula
COGS = opening stock + purchase/ cost of goods manufactured - ending stock
In this case:
Beginning stock = $60,000
Ending stock =$50,000
Cost of goods manufactured $380,000
COGS= $60,000 + $380,000- $50,000
COGS = $390,000
Answer:
Encumbrances $1000
Reserved for encumbraces $1000
Explanation:
Encumbrance is in the debit because is the money that we have destined for the purchase and since we have to get the money from our funds Reserved for encumbrances is in the credit.
Answer:
$8,000
Explanation:
Given that
Profit = $1,200
Cost = 85% of sales
Profit = 15%
We know that
Sales = Cost + Profit
= 85% + 15%
= 100%
So sales percentage is 100%
Now we use the unitary method to find out the extra sales which would be
= Profit × sales percentage ÷ profit percentage
= $1,200 × 100% ÷ 15%
= $8,000
