Cavy Company completed 7,770 units during the year at a cost of $590,520. The beginning finished goods inventory was 1,710 units valued at $121,410. Assuming a FIFO cost flow, determine the cost of goods sold for 7,020 units. $fill in the blank 1

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A: Cost of goods sold has been calculated by taking the gross profit subtracted from the sales.

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A: Worth company's Beginning work in process inventory = $180000 Cost of goods manufactured = $866000…

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A: The question is based on the concept of Cost Accounting.

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A: Definition: Cost of goods sold: Cost of goods sold is the total of all the expenses incurred by a…

Q: The department had a beginning inventory of 5,500 units of product, and it started 94,500 units…

A: The equivalent units are calculated on the basis of percentage of work completed during the period.

Q: Pennell Company gathered the following information for the year ended December 31, 2018. During the…

A: Sales: It is an economic activity. Under this, one party sell its goods or services to another…

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A: Selling price per unit = $971,850 / 20,900 units = $46.50   Variable cost per unit = [($188,352 +…

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A: Raw materials consumed means actual quantity and value of materials that is being used and consumed…

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A: Solution: Cost of goods manufactured is the total product cost of goods that has been completed…

Q: The following account balances and other information were taken from the accounting records of TITAN…

A: Total manufacturing costs = Direct material consumed + Conversion costs

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A: Cost of goods sold represents the cost of those goods that are sold by the entity. These are…

Q: ​Circetrax, Inc. has provided the following financial information for the​ year:   Finished Goods​…

A: Under the absorption costing, fixed manufacturing overhead is considered as a product cost and…

Q: The following information is available for the first month of operations of Bahadir Company, a…

A: A.

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A: We know the prime cost = Direct Material  used+ Direct Labour + Direct Expense Direct Material Used…

Q: he following information is available for Barnes Company for the fiscal year ended December 31:…

A: Formula: Product cost = Direct materials cost + Variable cost + Fixed cost Sum of all direct…

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A: Introduction: Costs of goods are the expenses immediately linked to the manufacture of a company's…

Q: At the end of the year WIP totaled $ 6,000. Calculate the total costs of goods manufactured and…

A: Cost of goods manufactured is the total costs incurred in manufacturing the product in current…

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A: Formula: Equivalent cost per unit = Total transferred in cost / Total number of equivalent units

Q: [The following information applies to the questions displayed below] Pacific Ink had beginning…

A: Under weighted average method, cost per equivalent unit of production is calculated on average…

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A: Gross profit can be calculated by deducting the cost of goods sold from sales revenue.

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A: Direct material refers to the material cost that is directly associated with the production process.…

Q: During the previous year, Casually Company had the following data: Units in beginning inventory…

A: 1.  Product cost Per Unit under absorption costing, would be calculated as follows :  Particular…

Q: Pacific Ink had beginning work-in-process inventory of $750,960 on October 1. Of this amount,…

A:

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A: Given that: Units transferred out = 25075 units Material cost per unit = $5 per unit Conversion cost…

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A: Finished goods inventory = No. of units completed and transferred x Cost per Equivalent unit where,…

Q: (The following information applies to the questions displayed below] Pacific Ink had beginning…

A: Units started=Total units completed-Beginning units=114,000-54,000=60,000

Q: The following data are obtained from Glendale Sompany for a given period: Cost of goods…

A: Total manufacturing cost=Cost of goods manufactured+Ending work in process=P 187,500+P 12,500=P…

Q: DEF Company produces a single product. For the most recent year, the company's net operating income…

A: There are two types of costing methods.

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A: Cost sheet is a method of allocating total cost into different categories such as direct material…

Q: The following information is available for the first month of operations of Bahadir Company, a…

A: a. Cost of Goods Sold = Sales-Gross Profit =$451,170-$263,030=$188,140   b. Finished Goods Inventory…

Q: An excerpt from the last year’s final annual report ofKalamia manufacturing company reported the…

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A: Sales Revenue is the amount received or receivable from the customers on the account of cash sales…

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A: SOLUTION- Absorption costing: Absorption costing is also called traditional costing. This method of…

Q: Data concerning Dakota Enterprises' operations last year appear below: Units in the Beginning…

A: "Since you have posted a question with multiple sub parts, we will solve first three sub-parts for…

Q: Sprint Shoes Inc. had a beginning inventory of 9,700 units on January 1, 20X1. The costs associated…

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A: The equivalent units are calculated on the basis of work completed during the period.

Q: A company started a new product, and in the first month started 64,735 units. The ending work in…

A: Formula: Units transferred out = Started units - Ending work in process Deduction of ending work in…

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A: Introduction: Inventory expenses are calculated using absorption costing. Manufacturing overhead…

Q: inventory

A: Produced units = 18500 Beginning inventory = ( $5159 total unit cost /$6.70 per unit cost ) = 770…

Q: The following information is available for Barnes Company for the fiscal year ended December 31:…

A: Cost of goods sold: Cost of goods sold is the total of all the expenses incurred by a company to…

Q: Compute the raw materials inventory turnover when the amount of raw materials used are 18,000 and…

A: Formula: Raw materials inventory turnover = Raw materials used / Average inventory

Q: Krepps Corporation produces a single product. Last year, Krepps manufactured 27,120 units and sold…

A: Ending inventory units = Total units produced - units sold = 27,120 units - 21,800 units = 5,320…

Q: Wiremold tracks the direct materials in inventory. At the end of their most recent month, the direct…

A: Raw material inventory      920000 x 7/20 =   322000 WIP  raw material.   920000x2/20. = 92000 Cost…

Q: A company started a new product, and in the first month started 90,000 units. The ending work in…

A: Since you have asked multiple question, we will solve the first question for you. If you want any…