The records of SURLY BAD TEMPERED Co. showed the following information: Decrease in accounts payable 60,000 Disbursements for purchases 440,000 Increase in raw materials 100,000 Direct labor is 50% of raw materials used in production Manufacturing overhead is 20% of prime costs Increase in work-in-process inventory 40,000 Decrease in finished goods inventory 50,000 How much is the cost of goods sold? a. 380,000 b. 464,000 c. 514,000 d. 546,000

Q: Chillingsworth Industries Inc., operating at full capacity, sold 35,000 units at a price of $90 per…

A: Note: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question…

Q: A condensed income statement by product line for Celestial Beverage Inc. indicated the following for…

A: Fixed costs do not change whether the product continues or discontinues. Variable costs change with…

Q: The following records of Manutech Corporation show the following information: Increase in Raw…

A: Net Purchases = Purchases - Purchase return = P550000 - 10000 = P540,000

Q: Assume that a company provided an income statement as follows:   Sales   $ 524,000 Cost of goods…

A: Cost of goods sold- The total direct cost incurred in preparing the goods is referred to as the cost…

Q: Summarized data for Walrus Co. for its first year of operations are: Sales (100,000 units)…

A: In absorption costing , fixed manufacturing overhead will be included in stock valuation where as in…

Q: The accounting records of X Corp shows the following: Increase of RM if 45,000; decrease din FG…

A: Solution: Total cost of raw materials used = Purchase of raw materials + Transportation In -…

Q: The following information is available for the HAPPY Corporation for 20X3: 1. Materials inventory…

A: Given, Ending finished goods inventory = $65,000 Materials inventory decreased = $4,000 Beginning…

Q: SWEET TOOTH Company provided the following information for the current year: Increase in raw…

A: Solution: Cost of goods sold is the cost directly related to products sold during the period. Cost…

Q: The accounting records of ABC Corp shows the following: Increase of RM if 45,000; decrease din FG…

A: Solution: Cost of raw materials used during the period = Purchases of raw materials + Transportation…

Q: A condensed income statement by product line for Celestial Beverage Inc. indicated the following for…

A: Fixed cost of goods sold (184000*20%)                   36,800  Fixed operating expenses…

Q: Last Year Sales ​$208,000   ​$221,000   Cost of goods sold 106,000   116,000   Gross margin 102,000…

A: Ratio analysis can be used to obtain the information regarding performance of a company, department,…

Q: The comparative income statement for the month of Uratex Philippines Corp makers of Monoblocks…

A: As posted multiple sub parts we are answering only first three sub parts kindly repost the…

Q: A condensed income statement by product line for Celestial Beverage Inc. Indicated the following for…

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

Q: The comparative income statement for the month of Uratex Philippines Corp makers of Monoblocks…

A: Breakeven point is that point of sales revenue at which business is recovering only its fixed costs…

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

A: Cost of Good Sold - It is refers to the direct costs for production of goods sold by the company.

Q: The following information are taken from Pineapple Co. accounting records for the current period: •…

A: Cost of goods sold for the current year = Decrease in raw materials inventory + Direct labor payroll…

Q: The following is the year ended data for Tiger​ Company:   Sales Revenue $57,000 Cost of Goods…

A: The cost of goods available for sale seems to be the expense of total products manufactured…

Q: The following data are given by Domestic Mfg. Corp.:…

A: Note: Since you have posted multiple questions, we will solve the first question. Please submit a…

Q: Kokey's accounting records shows the following: Increase of Raw Materials of 4,500; decrease in…

A: Cost of direct materials used = Cost of Purchases of raw materials + Decrease(increase) of Raw…

Q: The comparative income statement for the month of Uratex Philippines Corp makers of Monoblocks…

A: Operating leverage is a financial ratio which computes that how much-fixed cost is present in…

Q: Vera Ltd had beginning finished goods inventory of £35,000; its cost of goods manufactured was…

A: Cost of goods sold = Sales - Gross profit  Cost of goods sold = 150,000 - 22,000 Cost of goods sold…

Q: The Cost of Goods Manufactured of Silver Corporation is P5,600,000. If the ending finished goods…

A: The cost of goods sold includes the cost of goods that are sold during the period.

Q: Chris Corporation manufactures metal chips. The following data was available for the year: • Raw…

A: Raw materials used = Raw materials purchase + Decrease in raw materials inventory = P90000 + P4000 =…

Q: Cost of goods sold Gross margin Less selling & admin. Expenses Net operating income 42,000 28,000…

A: Under variable costing method the cost of goods is calculated by bifurcating the variable expenses…

Q: Chillingsworth Industries Inc., operating at full capacity, sold 35,000 units at a price of $90 per…

A: Cost-volume-profit (CVP) analysis is conducted by companies to see how different sales volume,…

Q: The following information was taken from H Company’s accounting records for the year December 31,…

A: Raw material used = Raw materials purchased - Increase in raw materials inventory = 430000-15000 =…

Q: The following data are given by Domestic Mfg. Corp: increase in finished goods inventory - P 12,000;…

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

Q: Chris Corporation manufactures metal chips. The following data was available for the year: • Raw…

A: Raw materials used = Raw materials purchase + Decrease in raw materials inventory = P90000 + P4000 =…

Q: A firm had 200,000 in sales; 120,000 in goods available for sale; ending finished goods inventory of…

A: Solution: Cost of good sold = goods available for sale - ensing Finished goods inventory  = 120000 -…

Q: Chillingsworth Industries Inc., operating at full capacity, sold 35,000 units at a price of $90 per…

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

Q: A condensed income statement by product line for Crown Beverage Inc. indicated the following for…

A: Answer a) Differential Analysis Continue King Cola (Alt. 1) or Discontinue King Cola (Alt. 2)…

Q: The accounting records of X Corp shows the following: Increase of RM if 45,000; decrease din FG…

A: Solution: Cost of raw materials used = Purchase of raw materials  + Transportation In - Increase in…

Q: Data are as follows: Beginning balance of RM is 12,000; Purchases of materials totaled 400,000; Raw…

A: The cost of goods manufactured incudes the direct costs and overhead applied cost.

Q: Puif Company's absorption costing income statements for the last two years are presented below: Year…

A: Ending inventory for year 2 = beginning units +  units produced - units sold = 1000+8000-9000 = 0

Q: The following information is available for the HAPPY Corporation for 20X3: Materials inventory…

A: COGS = COGM + Opening Finished Goods Inventory - Closing Finished Goods Inventory COGM = Total…

Q: Jax Incorporated reports the following data for its only product. The company had no beginning…

A: Introduction: The profit a business makes after subtracting the costs of manufacturing and selling…

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

A:

Q: pls show solutions Last year, Harris Company manufactured 17,000 units and sold 13,000 units.…

A: There are two costing methods which are, (1) Variable costing method (2) Absorption costing method…

Q: Jax Incorporated reports the following data for its only product. The company had no beginning…

A: The gross profit is the excess of revenue over the cost of goods sold. It is also the amount…

Q: 1. For The period just ended, the gross margin of Robin Company was P 3,840,000, the cost of goods…

A: Direct labour refers to workers in manufacturing or services who are accountable for a specific…

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

A: Question is based on the concept of Accounting

Q: Pederson Company reported the following: Manufacturing costs $2,000,000 Units manufactured 50,000…

A: Ending inventory in units = No. of units manufactured - no. of units sold = 50000 - 47000 = 3000…

Q: Co. showed The accounting records for the following: Decrease in raw materials inventory P 45,000…

A: Cost of raw material used= Purchase of raw material+ Decrease in raw material inventory

Q: The following is the year ended data for Tiger​ Company:   Sales Revenue $58,000 Cost of Goods…

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

Q: he following information was taken from H Company's accounting records for the year December 31,…

A: Given data, Increase in raw materials inventory= P15,000 Decrease in finished goods inventory=35,000…

Q: The following information has been provided by the Rose Toiletries. Co Ltd. for the Second quarter…

A: Net operating Income Net operating income means the operating income before interest and taxes.…

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

A: COGM= EFG+COGS-BFG Where, COGM is cost of goods manufactured, EFG is ending finished goods, COGS is…

Q: Jack Jones, the materials manager at Precision Enterprises,is beginning to look for ways to reduce…

A: Weekly of Supply can be calculated by below formula: [Raw materials + work in process + 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…

Inventory Accounting

Inventory accounting is that branch of accounting that helps in determining the specific value of assets at different stages of production and development.