Stock production and sales data from a single product of Sweetsop are given in the following: Period 1 Period 2 Period 3 Production (units) 60 000 70 000 65 000 Sales (unit) 60 000 55 000 65 000 Opening stock (units) - - 15 000 Closing stock (units) 15 000 5000 The financial data for the activity level of 60 000 units per period are as follows: Cost per unit $ Direct material 2.50 Direct labour 3.00 Production overheads= 200% of direct labour 6.00 Total cost per unit 11.50 Selling price per unit 18.00 Administrative overheads are fixed at $100 000 per period and half of the production overheads are fixed. Prepare the absorption costing statements for the three-period listed Reconcile the statements for each period

Stock production and sales data from a single product of Sweetsop are given in the following: Period 1 Period 2 Period 3 Production (units) 60 000 70 000 65 000 Sales (unit) 60 000 55 000 65 000 Opening stock (units) - - 15 000 Closing stock (units) 15 000 5000 The financial data for the activity level of 60 000 units per period are as follows: Cost per unit $ Direct material 2.50 Direct labour 3.00 Production overheads= 200% of direct labour 6.00 Total cost per unit 11.50 Selling price per unit 18.00 Administrative overheads are fixed at $100 000 per period and half of the production overheads are fixed. Prepare the absorption costing statements for the three-period listed Reconcile the statements for each period

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter24: Analysis Of Financial Statements

Section: Chapter Questions

Problem 7SEB

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Stock production and sales data from a single product of Sweetsop are given in the following: Period 1 Period 2 Period 3Production (units) 60 000 70 000 65 000Sales (unit) 60 000 55 000 65 000Opening stock (units) - - 15 000Closing stock (units) 15 000 5000 The financial data for the activity level of 60 000 units per period are as follows: Cost per unit $Direct material 2.50Direct labour 3.00Production overheads= 200% of direct labour 6.00Total cost per unit 11.50 Selling price per unit 18.00 Administrative overheads are fixed at $100 000 per period and half of the production overheads are fixed.RequiredFrom the above information :(1) Prepare the marginal and absorption…
Total Stock Administration costa under EOQ model is the sum of: a.Ordering costs and Carrying costs b.Carrying costs and Reoder level costs c.Storage and carrying costs d. Minimum stock costs and reorder quantity 2. The following information pertains to inventory item Zl47 Reorder level 3150 units Reorder quantity 3250 units Minimum Lead time 11 days Maximum Lead time 15 days Minimum demand 90 units per day Maximum demand 260 units per day The minimum stock level is ______ 975 750 2,160 875 3. Annual demand- 2000 units Unit cost- $625 Carrying cost per unit per year – 2% of unit purchase price Odering Cost - $5 What is the highest quantity that should be ordered at any one time? a. 2000units b. 1600 units c. 40units d. 167 units 4. The EOQ for a particular model of laptop is 40units and the annual demand is 2000 units. If the ordering cost is $5, what is the unit carrying cost? a. $0.08 b. $12.50 c. $1,600 d. $20,000 5. Annual demand…
8) Direct Raw Material and Material stock movements for the March 2021 period of the KLM company, which produces finished products, are as follows.01.03.2021 --- --- ---03.03.2021 40.-₺/kg 25 kg Purchase09.03.2021 50.-₺/kg 20 kg Purchase12.03.2021 30 kg Sent to production15.03.2021 10 kg Sent to productionDesired: Calculate the Direct First Material and Material Expenses of the company that monitors its stocks according to the LIFO (Last In, First Out) Method, on the dates 12.03. A. 12.03.2021 = 1.400.-₺ ; 15.03.2021 = 400.-₺B. 12.03.2021 = 1.600.-₺ ; 15.03.2021 = 100.-₺C. 12.03.2021 = 1.300.-₺ ; 15.03.2021 = 300.-₺D. 12.03.2021 = 1.400.-₺ ; 15.03.2021 = 500.-₺E. 12.03.2021 = 1.500.-₺ ; 15.03.2021 = 200.-₺F. 12.03.2021 = 1.300.-₺ ; 15.03.2021 = 400.-₺
According to the information given in the table below, which of the following is Cost of Goods Sold? Cost of Production 444000 Opening stock of WIP 48000 Opening stock of FG 38000 Closing stock of WIP 18000 Closing stock of FG 1500 units Total production units 15800 Select one: a. 445600 b. 487000 c. 467000 d. 419200
(a) Calculate and Closing stock from the following information:-Total sales Rs 600000Gross Profit 25% on SalesStock Turnover Ratio = 5 timesClosing stock is Rs. 12000 more than opening stock(b) Gross Profit Ratio of a company was 25%. Its cash sales were Rs. 200000 and its credit Sales was 90% of the total sales. If the indirect expenses of the Company were Rs. 20000. Calculate net Profit ratio.
ccording to the information given in the table below, which of the following is Cost of Goods Sold? Cost of Production 188800 Opening stock of WIP 52300 Opening stock of FG 29960 Closing stock of WIP 15100 Closing stock of FG 750 units Total production units 4520
The Pink Lady Company incurred the following transactions during the month of June:04 June Purchased 1 500 units at R90 each10 June Issued 1 200 units16 June Issued 800 units20 June Purchased 2 000 units at a total value of R150 00025 June Issued 1 000 units28 June Issued 900 units30 June Purchased 1 000 units at R110 each The opening stock for June was 1 000 units at a total value of R100 000. The company uses a weighted average method to valuate their inventory and applies a perpetual accounting system. Required: Calculate the value of the closing stock at the end of June.
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The following data of the company "Crete S.A." for the year 2015 (amounts in euro) are given. Finished Products Production in progress Initial Stocks 60.000 88.000 Closing stocks 80.000 112.000 Given that the cost of Produced Products amounted to 1,140,000 and that the Cost Sales accounted for 80% of Sales for 2015 were (amounts in euros): 1.120.000 1.200.000 1.320.000 1.400.000