The opening and closing inventories of a manufacturing business are GH₵ 22,000 and GH₵ 36,000 respectively. If goods are transferred to warehouse at cost plus 33⅓%, what provision for unrealized profit must be taken to the profit and loss account?

Q: Given that the cost of goods completed was $57 000, sales $80 000, finished goods at start $3 200…

A: Gross profit = Sales - (Beginning finished goods + cost of goods completed - Ending finished goods)…

Q: A manufacturing company has an ending finished goods inventory of $14,600, raw material purchases of…

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

Q: What are the total costs to account for if a company's beginning inventory had $231,436 in…

A: Total costs to account for=Costs in beginning inventory+Costs incurred during the period

Q: What are the total costs to account for if a company's beginning inventory had $279,160 in…

A: Cost incurred in current year period = Direct material costs + Direct labor + Manufacturing overhead…

Q: The balance of work in process inventory account as of December 31, of the current year of Purewood…

A: Cost of inventory = P480,000 Selling price = P450,000 Completion cost = P10,000 Cost to sell =…

Q: The following information relates to Marshall Manufacturing's current accounting period: $ 16,400…

A: Introduction: Net income is the total profit earned by the organization during the period. At the…

Q: The owner of a large machine ship has just finished its financial analysis from the prior fiscal…

A: Data given:: Cost of goods sold =$ 328,250 Total inventory= Value of production materials on hand+…

Q: Make the single step statement of the followi Sales 417,500 Cost of goods sold 210,000 Salaries…

A: The income statement is prepared to record the revenues and expenses of the current period and…

Q: financial information is presented here for queen company. Net sales- 80,000 cost of goods sold-…

A: Formula: Gross profit = Net sales - Cost of goods sold

Q: Bogs company has a net profit margin of 5%, an operating profit margin of 10%, and a gross profit…

A: Gross Profit = Sales Revenue x Gross Profit Margin Cost of Goods Sold = Sales - Gross Profit

Q: The beginning and ending finished goods inventories of the Prize Ring manufacturing company were…

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

Q: Make the single step statement of the follOWI Sales 417,500 Cost of goods sold 210,000 Salaries…

A: The income statement is prepared to record the revenues and expenses of the current period.

Q: Wilkins Manufacturing has ar and a gross profit margin of inventories are Quarter Inventory 1.. $…

A: Average inventory can be referred to as the average amount of inventory available over a specified…

Q: X Company had $90,000 of ending finished goods inventory, beginning finished goods inventory was…

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

Q: Given: The Company showed Cost of Goods Sold amounting to P440,000 and its gross profit rate is 45%.…

A: Gross profit ratio is a profitability ratio that calculates the percentage of sales that exceed the…

Q: If Sales revenue is SR 26,000, beginning finished goods inventory is SR 8,000, ending finished goods…

A: Cost of goods sold = Cost of goods manufactured + Beginning finished goods inventory - Ending…

Q: The owner of a large machine shop has just i nished its i nancial analysis from the prior fiscal…

A: Ratio analysis: It refers to the quantitative technique of financial analysis that allows gaining an…

Q: If the beginning finished goods -9 inventory 90 00O ID, ending finished goods inventory 65 000 ID,…

A: Cost of goods sold:-It is the cost of producing goods which involve all direct cost whether fixed or…

Q: If Sales revenue is SR 26,000, beginning finished goods inventory is SR 8,000, ending finished goods…

A: Cost of goods sold: All the expenses that are incurred in making a product are called Cost of Goods…

Q: The following information is available for Crouching Alligator Manufacturing Company for the month…

A: The answer is as fallows

Q: A manufacturing company has a beginning finished goods inventory balance of $14,600, cost of goods…

A: Cost of Goods Sold=Beginning Finished Goods Inventory+Cost of Goods Manufactured-Ending Finished…

Q: X Company had $80,000 of ending finished goods inventory, beginning finished goods inventory was…

A: Cost of goods manufactured = Cost of goods sold + Ending inventory - Beginning inventory

Q: The following are data regarding Sunny Company in 2021 - Finished Goods Inventory December 31…

A: “Since you have posted a many questions, we will solve first question for you. To get the remaining…

Q: The Lakandula Company's Cost of Goods Manufactured was P240,000. Its total sales amounted to…

A: The cost of goods sold can be calculated to estimate the beginning finished goods inventory

Q: Given: The Company showed a net loss of P140,600 with Cost of Goods Sold of P546,900 which is 60% of…

A: Formulas: Total expenses = Net Loss + Gross profit where, Gross profit = Sales - Cost of goods sold

Q: 2. Below is the Statement of Cost of Goods Manufactured and the Income Statement for two separate…

A: Statement of net income is an essential part of financial statements. These statements t are…

Q: Given the following information regarding to a recent period's operations: Sales - P? Beginning…

A: Gross margin is the difference between  sales  and cost of goods sold. Gross margin can be…

Q: X Company had $90,000 of ending finished goods inventory, beginning finished goods inventory was…

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

Q: The owner of a large machine shop has just finished its financial analysis from the prior fiscal…

A: Calculation of Inventory Turnover Ratio and Weeks of Supply:The inventory turnover ratio is 3.5 and…

Q: Winner Company has two products with cost and selling price as follows:…

A: Solution Concept Under lower of cost or NRV method , The inventory is valued at lower of the cost or…

Q: Information related to Burns Iron Works appears below. What is the ending balance in the finished…

A: Cost of goods sold is calculated by following formula: Cost of goods sold = Beginning finished goods…

Q: The following relate to God's Blessings enterprise for the year ended 31 December 2019. GHC…

A: Provision for unrealized profit is used to ensure that the closing stock is valued at cost according…

Q: The gross margin for Corona Company for the third quarter of the year was R3 250 000,  when sales…

A: Cost accounting is one of the branches of accounting, under which all costs are being analyzed and…

Q: From the following details compute cost of goods manufactured, Cost of goods sold Rs.2,00,000,…

A: Formula: Cost of goods manufactured = Opening stock of finished goods + Cost of goods sold

Q: The owner of a large machine shop has just finished its financial analysis from the prior fiscal…

A:

Q: What are the total costs to account for if a company's beginning inventory had $231,430 in…

A: Total cost includes direct materials, direct labor, and other indirect productive expenses.

Q: Tenggiri Bhd (TB) began business at the start of the current year and maintains its accounting…

A: Given that, Tenggiri Bhd started business in the current year. There is no beginning finished goods…

Q: If the net sales 159 150 ID , -1 beginning finished goods inventory 16 500 ID ,Cost of goods…

A: Sales revenue: It is the revenue earned by a business on selling the goods or providing services to…

Q: The related data of Rolene Company:                                          Net income…

A: Question is based on the concept of Accounting

Q: Brad Gravel Pitt Company has sales of $495,000 and cost of goods sold of $302,000. Selling and…

A: Gross profit is the excess of sales over the cost of goods sold. It shows the profit earned by the…

Q: A company has a net profit margin of 5%, an operating profit margin of 10%, and a gross profit…

A: The cost of goods sold can be calculated by deducting gross profit from the sale revenue.

Q: |The following relate to God's Blessings enterprise for the year ended 31 December 2019. GHC…

A: Provision for unrealized profit is used to ensure that the closing stock is valued at cost according…

Q: Cost of goods sold, profit margin, and net income for a manufacturingcompany The following…

A: Cost accounting is widely used by the management to determine and control the cost of producing the…

Q: 1. A business operate based on a mark-up cost of 40%. If the opening and closing inventories were Gh…

A: As posted multiple questions we are answering only one question kindly repost the unanswered…

Q: The Lion Company's cost of goods manufactured was P120,000 when its sales were- P 360,000 and its…

A: Finished goods are the goods that have been fully manufactured and are ready for sale. The finished…

Q: Whipple Company has sales revenue of $585,000. Cost of goods sold before adjustment is $335,000. The…

A: Manufacturing overhead will be included on predetermined basis and then compare with the actual…

Q: Given: The Company showed Cost of Goods Sold amounting to P645,750 and its gross profit rate is 40%.…

A: Calculation of Total Sales Revenue Total Sales Revenue = Cost of goods sold/ (100% - Gross Profit…