he business type of this company is food services industry. Give me an analyzation or interpretation for finished good turnover ratio of 5.33. Thankk you:)
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The business type of this company is food services industry.
Give me an analyzation or interpretation for finished good turnover ratio of 5.33. Thankk you:)
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- E8.12 (LO 3) (FIFO, LIFO, Average-Cost Inventory) Shania Twain Company was formed onDecember 1, 2019. The following information is available from Twain’s inventory records for Product BAP. Units Unit CostJanuary 1, 2020 (beginning inventory) 600 $ 8.00Purchases:January 5, 2020 1,200 9.00January 25, 2020 1,300 10.00February 16, 2020 800 11.00March 26, 2020 600 12.00 A physical inventory on March 31, 2020, shows 1,600 units on hand.InstructionsPrepare schedules to compute the ending inventory at March 31, 2020, under each of the following inventory methods.a. FIFO b. LIFO. c. Weighted-average (round unit costs to two decimal places)Please complete the Income statement Calculation of Direct Materials Used (Analyze Raw Materials Account) Beginning Raw Materials Inventory 2,373.75 Plus: Purchases of Direct Materials, Freight-in, Duties 26111.25 Materials Available for Use 28485 Less: Ending Raw Materials Inventory 18,041.32 <<<To balance sheet Direct Materials Used 10443.68 Calculation of Cost of Goods Manufactured (Analyze WIP Inventory) Beginning WIP Inventory 0 Plus Manufacturing Costs Incurred: 355,428.68 Direct Materials Used 10443.68 Direct Labor 135,000.00 Manufacturing Overhead 191,943.68 Total Manufacturing Costs to Account For 337,387.36 Less: Ending WIP Inventory 18,041.32 <<<To balance sheet Cost of Goods Manufactured 319346.04 Calculation of Cost of Goods Sold (Analyze Finished Goods Inventory)…May Company has ending finished goods inventory of P40,000.00, beginning finished goods inventory P55,000.00 and cost of goods manufactured of P120,000.00. What is the cost of goods sold of May Company?
- May Company has ending finished goods inventory of P40,000.00, beginning finished goods inventory P55,000.00 and cost of goods manufactured of P120,000.00. What is the cost of goods sold of May Company? P 105,000.00 P 135,000.00 P 140,000.00 P 120,000.00What is the beginning inventory? You left it blank. Direct Materials Conversion costs Beginning Inventory ? ? ? Add: Current costs 3798000 2160000 1638000 ($594000+$1044000) Total costs to account for (A) 3798000 2160000 1638000Assume the following information for Fruitful Proprietary Limited. for the year ended December 31, 2011: Sales R5,160 Cost of goods manufactured for the year R1,800 Beginning finished goods inventory R834 Ending finished goods inventory R593 Selling and administrative expenses R424 What is the cost of goods sold for the year ended 31 December 2011?
- Sarah furniture Materials inventory Details, beginning P80,000.00, Purchases P55,000.00, Freight In P5,000.00, Freight out P2,000.00, Purchase discount P1,000.00 and Ending Materials inventory ending P38,000.00. How much is the material used in the production?Ruby Beauty Cosmetic Finished goods inventory Details, ending P20,000.00, cost of goods manufactured P230,000.00, and beginning finished goods inventory P11,000.00. How much is the cost of goods sold P 221,000.00 P 239,700.00 P 239,000.0 P 221,300.00The kind of business is food industry services. This ratio comes out when I total the FG Turnover + WIP Turnover +RM Turnover. The inventory turnover ratio comes out is 358.88. Give me an analyzation or interpretation for inventory turnover ratio of 358.88. Thank youuu.:)
- Ruby Beauty Cosmetic Finished goods inventory Details, ending P20,000.00, cost of goods manufactured P230,000.00, and beginning finished goods inventory P11,000.00. How much is the cost of goods soldE1-9 Determining materials, labor, and cost of goods sold The following inventory data relate to Edwards, Inc. INVENTORIES ENDING BEGINNING Finished goods $82,294 $120,698 Work in process $87,780 $76,808 Direct materials $104,239 $98,753 Revenues and Cost for the period: Sales $987,525 Cost of goods available for sale $850,369 Total manufacturing costs $740,644 Factory overhead $192,019 Direct materials used $224,936 Calculate the following for the year:a. Direct materials purchasedb. Direct labor costs incurredc. Cost of goods soldd. Gross profit (Hint Answers to subsequent parts may require using solutions from earlier parts)60.Presented below is a list of items that may or may not be reported as inventory in a company’s December 31 balance sheet. 1. Goods out on consignment at another company’s store- P800,0002. Goods sold on installment basis- P100,000 3. Goods purchased F.O.B. shipping point that are in transit on December 31- P120,0004. Goods purchased F.O.B. destination that are in transit on December 31- P200,000 5. Goods sold to another company, for which our company has signed an agreement to repurchase at a set price that covers all costs related to the inventory- P300,000 How much of these items would typically be reported as inventory in the financial statements?