Bundle: Managerial Accounting, 15th + Cengagenowv2, 1 Term Printed Access Card
15th Edition
ISBN: 9781337955386
Author: Carl Warren, Ph.d. Cma William B. Tayler
Publisher: Cengage Learning
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Textbook Question
Chapter 1, Problem 16E
Cost of goods sold, profit margin, and net income for a manufacturing company
The following information is available for Bandera Manufacturing Company for the month ending January 31:
For the month ended January 31, determine Bandera Manufacturing’s (A) cost of goods sold, (B) gross profit, and (C) net income.
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Cost of Goods Sold, Profit margin, and Net Income for a Manufacturing Company
The following information is available for Aricanly Manufacturing Company for the month ending January 31:
Cost of goods manufactured
Selling expenses
Administrative expenses
Sales
Finished goods inventory, January 1
Finished goods inventory, January 31
a. For the month ended January 31, determine Aricanly's cost of goods sold.
Aricanly Manufacturing
Company
Cost of Goods Sold
January 31
b. For the month ended January 31, determine Aricanly's gross profit.
Aricanly Manufacturing
Company
Gross Profit
January 31
$277,220
92,600
48,960
589,840
66,650
60,750
c. For the month ended January 31, determine Aricanly's net income.
Aricanly Manufacturing Company
Net Income
January 31
Operating expenses:
Total operating expenses
Cost of Goods Sold, Profit margin, and Net Income for a Manufacturing Company
The following information is available for Bandera Manufacturing Company for the month ending January 31:
Cost of goods manufactured
$165,390
Selling expenses
55,250
Administrative expenses
29,210
Sales
351,890
Finished goods inventory, January 1
39,760
Finished goods inventory, January 31
36,240
a. For the month ended January 31, determine Bandera Manufacturing’s cost of goods sold.
Bandera Manufacturing Company
Cost of Goods Sold
January 31
$
$
$
b. For the month ended January 31, determine Bandera Manufacturing’s gross profit.
Bandera Manufacturing Company
Gross Profit
January 31
$
$
c. For the month ended January 31, determine Bandera Manufacturing’s net income.
Bandera Manufacturing Company
Net Income
January 31
$
Operating expenses:
$
Total operating expenses…
Cost of Goods Sold, Profit margin, and Net Income for a Manufacturing Company
The following information is available for Bandera Manufacturing Company for the month ending January 31:
Cost of goods manufactured
$148,080
Selling expenses
49,470
Administrative expenses
26,150
Sales
315,070
Finished goods inventory, January 1
35,600
Finished goods inventory, January 31
32,450
For the month ended January 31, determine Bandera's (a) cost of goods sold, (b) gross profit, and (c) net income.
(a)
Bandera Manufacturing Company
Cost of Goods Sold
January 31
Sales
$fill in the blank b71124ffbf90fa3_2
Gross profit
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$fill in the blank b71124ffbf90fa3_6
fill in the blank b71124ffbf90fa3_8
$fill in the blank b71124ffbf90fa3_10
(b)
Bandera Manufacturing Company
Gross Profit
January 31
$fill in the blank abf993ffc04afc7_2
fill in the blank abf993ffc04afc7_4
$fill in the blank…
Chapter 1 Solutions
Bundle: Managerial Accounting, 15th + Cengagenowv2, 1 Term Printed Access Card
Ch. 1 - Prob. 1DQCh. 1 - Prob. 2DQCh. 1 - What manufacturing cost term is used to describe...Ch. 1 - Distinguish between prime costs and conversion...Ch. 1 - What is the difference between a product cost and...Ch. 1 - Name the three inventory accounts for a...Ch. 1 - In what order should the three inventories of a...Ch. 1 - What are the three categories of manufacturing...Ch. 1 - How do the manufacturing costs incurred during a...Ch. 1 - How does the Cost of goods sold section of the...
Ch. 1 - Management process Three phases of the management...Ch. 1 - Prob. 2BECh. 1 - Prime and conversion costs Identify the following...Ch. 1 - Product and period costs Identify the following...Ch. 1 - Cost of goods sold, cost of goods manufactured...Ch. 1 - Jakes Cabins is a small motel chain with locations...Ch. 1 - Indicate whether each of the following costs of an...Ch. 1 - Indicate whether the following costs of Procter ...Ch. 1 - Prob. 3ECh. 1 - For apparel manufacturer Abercrombie Fitch, Inc....Ch. 1 - From the choices presented in parentheses, choose...Ch. 1 - Prob. 6ECh. 1 - Classifying costs In a service company A partial...Ch. 1 - Classifying costs The following is a manufacturing...Ch. 1 - Financial statements of a manufacturing firm The...Ch. 1 - Manufacturing company balance sheet Partial...Ch. 1 - Cost of direct materials used in production for a...Ch. 1 - Prob. 12ECh. 1 - Cost of goods manufactured for a manufacturing...Ch. 1 - Income statement for a manufacturing company Two...Ch. 1 - Statement of cost of goods manufactured for a...Ch. 1 - Cost of goods sold, profit margin, and net income...Ch. 1 - Cost flow relationships The following information...Ch. 1 - The following is a list of costs that were...Ch. 1 - The following is a list of costs incurred by...Ch. 1 - A partial list of Foothills Medical Centers costs...Ch. 1 - Manufacturing income statement, statement of cost...Ch. 1 - Statement of cost of goods manufactured and income...Ch. 1 - Prob. 1PBCh. 1 - The following is a list of costs incurred by...Ch. 1 - A partial list of The Grand Hotels costs follows:...Ch. 1 - Several items are omitted from the income...Ch. 1 - Statement of cost of goods manufactured and income...Ch. 1 - Comfort Plus, Inc., has a hotel with 300 rooms in...Ch. 1 - Prob. 2MADCh. 1 - Comparing occupancy for two hotels Sunrise Suites...Ch. 1 - Prob. 4MADCh. 1 - Prob. 5MADCh. 1 - Prob. 1TIFCh. 1 - Communication Todd Johnson is the Vice President...Ch. 1 - For each of the following managers, describe how...Ch. 1 - The following situations describe scenarios that...Ch. 1 - Geek Chic Company provides computer repair...Ch. 1 - Which of the following items would not be...Ch. 1 - Prob. 2CMACh. 1 - A firm has 100,000 in direct materials costs,...Ch. 1 - In practice, items such as wood screws and glue...
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