Margaret puts money into her savings account each month. in this example money is functioning as a

WalCo is a manufacturing company. Assume the estimated inventories on January 1, 2020, for finished goods, work in process, and

ASHA 777 [7]

Answer:

Cost of goods sold=$955000

Explanation:

we know that to calculate cost of goods sold we have to first finds cost of goods manufactured and to calculate cost of goods manufactured we will need total manufacturing cost.

Step#01: Total manufacturing cost=?

Total manufacturing cost= raw material used+direct labour+ factory overhead

Raw material used=?

Raw material (open)= 72000

Add: Raw material purchase=467000

539000

less: Raw material (ending)= (93000)

Raw material used 446000

Total manufacturing cost=446000+363000+213000=1021000

Step#2: Cost of goods manufactured (COGM)=?

we know that: COGM= Total manufacturing cost+ work in process (open)-work in process (end)

COGM= 1021000+63000-84000=1000,000

Step#3: Cost of goods sold (COGS)=?

we know that : COGS= Cost of goods manufactured+finished goods (open)-finished goods (ending)

COGS= 1000000+171000-216000=955000

6 0

3 years ago

you work with a group of employee's who are in their early 20s. Which of the following methods of communication should you use t

Troyanec [42]

Please give the options in order for us to determine which is best.

5 0

3 years ago

Intricate Computer Solutions provides services to corporate and individual customers. During the month of June, the corporate b

lisabon 2012 [21]

Answer:

Contribution Margin for each corporate customer= $ 67.5

Explanation:

Intricate Computer Solutions

Corporate Business Segment Individual Business Segment

Revenue. $ 60, 000 $ 45,000

Variable costs $ 33, 000 $ 25,100

Contribution Margin $ 27,000 $ 20,000

Less

Fixed costs $ 7, 500 $ 7, 500

Operating Income $19,500 $12,500

Contribution Margin for each corporate customer= Contribution Margin/ No Of Customers =$ 27000/ 400= $ 67.5

3 0

3 years ago

Read 2 more answers

Which of the following is true of liquidity? Select one: a. Liquidity metrics include debt ratio, times interest earned, and rat

kompoz [17]

Answer:

c. Liquidity is the ability to convert assets to cash.

Explanation:

The company's level of liquidity deals with the company's level of cash which is usually held to meet current obligations.

The liquidity ratios are ratios that indicate how well and quickly a company can convert current assets into cash for the settlement of current liabilities.

Examples of liquidity ratios include current ratio, acid test/quick ratio , cash ratio and working capital ratio.

6 0

3 years ago

"Consider the following data: Cost of goods sold $70 Direct labor $20 Direct materials used $15 Cost of goods manufactured $80 W

vovikov84 [41]

Answer:

Schedule of cost of goods manufactured & Sold

Particulars Amount

Direct materials used $15

Direct labor $20

Factory overhead Applied $30

(150% of DL Cost)

Total manufacturing costs $65

Add: Beginning WIP $25

Total cost of work in process $90

Less: Ending WIP $10

Cost of goods manufactured $80

Particulars Amount

Cost of goods manufactured $80

Add: Beginning finished goods inventory $5

Cost of goods available for sale $85

Less: Ending finished goods inventory $15

Cost of goods sold $70

3 0

3 years ago