Prepare the journal entry to record the sale of 1,700 units that cost $9 per unit and sold for $15 per unit. If an amount box does not require an entry, leave it blank. 000
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- e| MyUSF A My Home CengageNOWv2|Online teachir x engagenow.com/ilm/takeAssignment/takeAssignmentMain.do?invoker-&takeAssignmentSessionLocator=&inpro. to Product J is one of the many products manufactured and sold by Oceanside Company. An income statement by product line for the past year indicated a net profit for Product J of $2,750. This net profit resulted from sales of $275,000, cost of goods sold of $186,500, and operating expenses of $85,750. It is estimated that 30% of the cost of goods sold represents fixed factory overhead costs and that 40% of the operating expense is fixed. If Product J is retained, the revenue, costs, and expenses are not expected to change significantly from those of the current year. Because of the large number of products manufactured, the total fixed costs and expenses are not expected to decline significantly if Product J is discontinued. Prepare a differential analysis report dated February 8 of the current year. If an amount is zero, enter "0". If…WEN eBook Cost Flow Methods The following three identical units of Item LO3V are purchased during April: Units Cost $118 121 April 2 April 15 April 20 Total Show Me How Feedback Item Beta a. First-in, first-out (FIFO) b. Last-in, first-out (LIFO) c. Weighted average cost Check My Work Purchase Purchase Purchase $363 Average cost per unit $121 ($363 ÷ 3 units) Assume that one unit is sold on April 27 for $175. Determine the gross profit for April and ending inventory on April 30 using the (a) first-in, first-out (FIFO); (b) last-in, first-out (LIFO); and (c) weighted average cost method. 1 1 1 Gross Profit 6A 69 3 000 Aut 124 Ending Inventory Check My Work a. Sales - cost of goods sold = gross profit. FIFO means that the first units purchased are assumed to be the first to be sold. Therefore, ending inventory is made up of the most recent purchases. b. Sales - cost of goods sold = gross profit. LIFO means the last units purchased are assumed to be the first to be sold. Therefore, ending…gageNOWv2 | Online teachin x zakeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator%3&inprogress3false Equipment with an estimated market value of $29,889 is offered for sale at $48,377. The equipment is acquired for $14,472 in cash and a note payable of $21,295 due in 30 days. The amount used in the buyer's accounting records to record this acquisition is Oa. $35,767 Ob. $44,361 Oc. $29,889 Od. $14,472 Next Previous 3:37 AM 5/9/2022
- Clas Cop Hig Hig Cer Bra Sca Shopping No Sac lov engagenow.com/ilm/takeAssignment/takeAssignmentMain.do?inprogress=true C 中 eBook Instructions: 1. Determine the estimated units of sales of the overall product necessary to reach the break-even point for the current year. 2,320 units 2. Based on the break-even sales (units) in part (1), determine the unit sales of both Kayaks and Canoes for the current year. Kayaks Canoes units 928 1,392 units 3. Assume that the sales mix was 60% Kayaks and 40% Canoes. Determine the estimated units of sales of the overall product necessary to re break-even point for the current year. units 4. Based upon the break-even sales (units) in part (3), determine the unit sales of Kayaks and Canoes for the current year. Kayaks Canoes units units 5. The overall enterprise break-even point increased lower ✓ contribution margin per unit of product. Feedback from (1) to (3) because the sales mix is weighted more toward the product with the Check My Work 1-3. Subtract…A My Home ngagevowv2.| Online teachir x gagenow.com/ilrn/takeAssignment/takeAssignmentMa.uo?invoker%3D&takeAssignmentSessionLocator=&inprogress=false D)(29) DJ Khaled - EVERY CHA X eBook Show Me How Marshall & Company produces a single product and recently calculated their break-even point as shown below. Current Units Sold 410 Sales Price per Unit $520 Variable Cost per Unit $375 Contribution Margin per Unit $145 Fixed Costs 006 Break-Even (in units) 28% Contribution Margin Ratio Break-Even (in dollars) $10,400 What would Marshall's target margin of safety point be in units and dollars if they required a $13,775 margin of safety? units Target margin of safetyt.php?attempt%3D1347310&cmid3D701917&page3D2 E-learning services SQU Libraries SQU Portal Attendance English (en) Ali decided to install a new internet fiber service. He signed a contract with Company XYZ. The contract states that Ali pays a monthly subscription fee. Ali's monthly internet cost can be classified as a: t of estion Select one: a. Sunk cost b. Fixed cost C. Moderation cost O d. Mixed cost Oe. Variable cost ious page Next page - Answers to Ch3 Additional Exercises Jump to Exam 1 Part 2- Sp20
- My Home gugevowv2| Online teachin x O ) (29) Lucky Daye Floods (A X + w.com/ilrn/takeAssignment/takeAssignmentMa.uo?invoker=&takeAssignmentSessionLocator=&inprogress3false eBook Marchete Company produces a single product. They have recently received the results of a market survey that indicates that they can increase the retail price of their product by 10% without losing customers or market share. All other costs will remain unchanged. Their most recent CVP analysis is presented below. Current Units sold 980 Sales Price per Unit $120 Variable Cost per Unit 86$ $22 Contribution Margin. per Unit Fixed Costs $18,722 Break-Even (in units) 851 Break-Even (in dollars) $102,120 Sales $117,600 Variable Costs $96,040 Contribution Margin $21,560 Fixed Costs $18,722 Net Income (loss) $2,838 If they enact the 10% price increase, what will be their new break-even point in units and dollars? If required, round final answers to nearest whole number. New Price Break-even (in units) Break-even (in…Assignment/takeAssignmentMain.do?invoker3D&takeAssignmentSessionLocator=D&inprogress%3Dfalse eBook Show Me How Calculator Print Item $37,200/52 = $715.38 weekly $715.38/35 = $20.44 hourly $20.44 x 1.5 $30.66 overtime $1,550.00 (semimonthly pay) + (7 x $20.44) + (1 x $30.66) = $1,723.74 Sheila Williams, a medical secretary, earns $3,575 monthly for a 35-hour week. For overtime work, she receives extra pay at the regular hourly rate up to 40 hours and time and one-half beyond 40 hours in any week. During one semimonthly pay period, Williams worked 10 hours overtime. Only 2 hours of this overtime were beyond 40 hours in any one week. Compute the following amounts. Round all divisions to two decimal places and use the rounded amounts in subsequent computations. Round your final answers to the nearest cent. a. The regular semimonthly earnings 1,787.50 b. The overtime earnings 186.78 c. The total earnings 1,474.28 X Feedback TCheck My Work a. Divide monthly earnings by 2 to get semimonthly…&external_browser%3D0&launchUrl=https%253A%252F%252Fnewconnect.mheducation.com%252F#/activity/question-group ter 8 homework i Saved Help Save & Exit Sub Check my wor Samuelson and Messenger (SAM) began 2021 with 200 units of its one product. These units were purchased near the end of 2020 for $25 each. During the month of January, 100 units were purchased on January 8 for $28 each and another 200 units were purchased on January 19 for $30 each. Sales of 125 units and 100 units were made on January 10 and January 25, respectively. There were 275 units on hand at the end of the month. SAM uses a periodic inventory system. Required: 1. Calculate ending inventory and cost of goods sold for January using FIFO. 2. Calculate ending inventory and cost of goods sold for January using average cost. oped Complete this question by entering your answers in the tabs below. ook Required 1 Required 2 rint Calculate ending inventory and cost of goods sold for January using FIFO. rences Cost of Goods…
- CengageNOWv2 | Online teachir x CengageNOWv2 |Online teach x v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator.. eBook Show Me How A Calculator Premium Anmortization On the first day of the fiscal year, a company issues an $8,000,000, 11%, five-year bond that pays semiannual interest of $440,000 ($8,000,000 x 11% x V=), receiving cash of $8,308,869. Journalize the first interest payment and the amortization of the related bond premium. Round to the nyarest dollar. If an amount box does not require an entry, leave it blank. Interest Expense X Premium on Bonds Payable / Cash Feedbark Bonds Payable is always recorded at face value. Any diferencein issue price s reflected in a premium or discount account. The straight-line method of amortization provides equal amounts of amortization over the ife of the bond, 000A ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fnew Ch 10 Concept Videos i 6 Part 2 of 5 .75 oints eBook Ask Print References Mc Graw Hill Required information Journal entry worksheet 1 On December 31 Wintergreen, Inc., issued $150,000 of 7 percent, 10-year bonds at a price of 93.25. Note: Enter debits before credits. Date Dec. 31 General Journal Cash Discount on bonds payable Bonds payable Record entry Clear entry < Prev. Saved C Debit 139,875 S 678 HCC FIL 9 Credit View general journal of 35 US N* CengageNOWv2| Online teachir X * CengageNOWv2 | Online teachin x +. now.com/ilm/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogre. * D eBook Show Me How Vertical Analysis Income statement information for Einsworth Corporation follows: Sales $337,000 Cost of goods sold 101,100 Gross profit 235,900 Prepare a vertical analysis of the income statement for Einsworth Corporation. If required, round percentage answers to the nearest whole number. Einsworth Corporation Vertical Analysis of the Income Statement Amount Percentage Sales $337,000 Cost of goods sold 101,100 $235,900 % Gross profit Previous Nex Check My Work 67°F Sunny iort sc delete home PA0 1A4 4+ 4- backspace