Which of the following would be in the finished goods inventory of a company making ice cream? Multiple Choice Milk and cream used to make the ice cream. Ice cream that has been made but is freezing to the level required for shipping. Frozen ice cream that is waiting to be shipped to retailers. Ice cream in process awaiting the addition of nuts.
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- Which of the following would be in the work in process inventory of a company making ice cream? Multiple Choice O O O O Milk and cream used to make the ice cream. Ice cream in process awaiting the addition of nuts. Frozen ice cream that is waiting to be shipped to retailers. Ice cream that is in the freezers of retailers awaiting sale to consumers.Ravenna Candles recently purchased candleholders for resale in its shops. Which of thefollowing costs would be part of the cost of the candleholder inventory?a. Advertising costsb. Freight inc. Freight outd. Purchasing agent wagesUsing the information below, calculate the cost of goods manufactured for the period: Beginning Raw Materials Inventory Ending Raw Materials Inventory Beginning Work in Process Inventory Ending Work in Process Inventory Beginning Finished Goods Inventory Ending Finished Goods Inventory Cost of Goods Sold Sales Revenues Selling Expenses Multiple Choice $578,500. $544,500. $566,000. < Jmre.v. Q Search $ 42,000 33,600 72,000 81,000 105,500 84,000 557,000 1,271,000 249,000 8 of 39 www www
- Info in images 2. Post your entries to T-accounts. (Don’t forget to enter the beginning inventory balances above.) Accounts Receivable Sales Beg. Bal. Beg. Bal. End. Bal. End. Bal. Raw Materials Cost of Goods Sold Beg. Bal. Beg. Bal. End. Bal. End. Bal. Work in Process Manufacturing Overhead Beg. Bal. Beg. Bal. End. Bal. End. Bal. Finished Goods Advertising Expense Beg. Bal. Beg. Bal. End. Bal. End. Bal. Accumulated Depreciation Utilities Expense Beg. Bal. Beg. Bal. End. Bal. End. Bal. Accounts Payable Salaries Expense Beg. Bal.…Use the information presented in Problem C-1 to solve this problem. Bean Nursery sells bark to its customers at retail. Bean buys bark from a plywood mill in bulk and transports the bark in its own trucks. Information relating to the beginning inventory and purchases of bark is as follows: Required Find the cost of the ending inventory by the first-in, first-out method. Check Figure Cost of ending inventory, $562Check my wi Fill in the missing amounts in each of the eight case situations below. Each case is independent of the others. Required: a. Assume that only one product is being sold in each of the four following case situations: b. Assume that more than one product is being sold in each of the four following case situations: Complete this question by entering your answers in the tabs below. Required A Required B Assume that only one product is being sold in each of the four following case situations: (Loss amounts should be indicated by a minus sign.) ces Case #1 Case #2 Case #3 Case #4 Unit sold 9,900 19,200 5,200 Sales 2$ 277,200 2$ 400,400 2$ 161,200 Variable expenses 138,600 249,600 Fixed expenses 98,000 176,000 92,000 110,000 $ (19,200) 110,000 $ 20 S 2$ Net operating income (loss) 10 Contribution margin per unit 10 of 12 re to search
- True Value Producers manufactures rum cakes, andal CF Supplier's List Price which the following details are available: inventory includes three items for Raw Materials OPD Net Realisable Value Flour (bag) Sugar (bag) Raisins (boxes) 2$ 3 600 2 900 4 200 5 100 2 800 4 100 The company receives 2 %% trade discount from its suppliers and it also takes advantage of a 2% discount for prompt payment. : Calculate the value of raw materials that should be shown in inventory in the statement of financial position at year end.Fill in the missing amounts in each of the eight case situations below. Each case is independent of the others. Required: a. Assume that only one product is being sold in each of the four following case situations: b. Assume that more than one product is being sold in each of the four following case situations: Complete this question by entering your answers in the tabs below. Required A Required B Assume that more than one product is being sold in each of the four following case situations: (Loss amounts should be indicated by a sign.) Sales Variable expenses Contribution margin Fixed expenses Net operating income (loss) Contribution margin ratio (percent) $ Case 1 459,000 55,830 37 % $ Case 2 204,000 134,640 52,000 % $ Case 3 474,000 51,920 76 % $ $ Case 4 300,000 96,000 (27,000) %Fill in the missing amounts in each of the eight case situations below. Each case is independent of the others. Required: a. Assume that only one product is being sold in each of the four following case situations: b. Assume that more than one product is being sold in each of the four following case situations: Complete this question by entering your answers in the tabs below. Required A Required B Assume that more than one product is being sold in each of the four following case situations: (Loss amounts should be indicated by a minus sign.) Case #1 Case #2 Case #3 Case #4 Sales $ 459,000 $ 194,000 $ 304,000 Variable expenses 124,160 79,040 Fixed expenses 56,000 475,000 Net operating income (loss) $ 72,600 $ 52,440 $ (1,040) Contribution margin ratio (percent) 40 % 76 % < Required A Required B %24 %24
- Fill in the missing amounts in each of the eight case situations below. Each case is independent of the others. Required: a. Assume that only one product is being sold in each of the four following case situations: b. Assume that more than one product is being sold in each of the four following case situations: Complete this question by entering your answers in the tabs below. Required A Required B Assume that only one product is being sold in each of the four following case situations: (Loss amounts should be indicated by a minus sign.) Units sold Sales Variable expenses Fixed expenses Net operating income (loss) Contribution margin per unit $ Case 1 Case 2 9,400 300,800 $ 406,000 131,600 96,000 $ $ 174,000 116,000 $ 20 $ Case 3 19,200 172,800 213,000 15 Case 4 4,000 $ 108,000 $ 72,000 (36,000)Fill in the missing amounts in each of the eight case situations below. Each case is independent of the others. Required: a. Assume that only one product is being sold in each of the four following case situations: b. Assume that more than one product is being sold in each of the four following case situations: Complete this question by entering your answers in the tabs below. Required A Required B Assume that more than one product is being sold in each of the four following case situations: (Loss amounts should be indicated by a minus sign.) Sales Variable expenses Fixed expenses Net operating income (loss) Contribution margin ratio (percent) $ $ Case 1 444,000 64,600 40 % < $ Required A Case 2 196,000 125,440 55,000 % $ Case 3 475,000 118,880 Required B 84 % $ Case 4 309,000 98,880 $ (10,880) %Fill in the missing amounts in each of the eight case situations below. Each case is independent of the others. Required: a. Assume that only one product is being sold in each of the four following case situations: b. Assume that more than one product is being sold in each of the four following case situations: Complete this question by entering your answers in the tabs below. Required A Required B Assume that more than one product is being sold in each of the four following case situations: (Loss amounts should be indicated by a minus sign.) Sales Variable expenses Fixed expenses Net operating income (loss) Contribution margin ratio (percent) $ $ Case 1 452,000 59,280 39 % Case 2 199,000 121,390 59,000 % Case 3 474,000 51,920 76 % $ Case 4 305,000 82,350 $ (10,350)