Revise your calculations based on the new information provided below and then answer the questions that follow.Number ofUnits4,8004,1002,5002,700InventoryItem AItem BItem CItem DUnit Cost Unit NRV$29$28546055285225Required:1. Based on the new information, prepare the journal entry required:2. Change the Unit Cost for Item A to $30 and prepare the journal entry required:

Journal Entry :— It is an act of recording transactions in books of account when transaction…

Answered: Revise your calculations based on the…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Do not give image format
Required information [The following information applies to the questions displayed below.] The following data is provided for Garcon Company and Pepper Company for the year ended December 31. Finished goods inventory, beginning Work in process inventory, beginning. Raw materials inventory, beginning Rental cost on factory equipment Direct labor Finished goods inventory, ending Work in process inventory, ending Raw materials inventory, ending Factory utilities General and administrative expenses. Indirect labor Repairs-Factory equipment Raw materials purchases Selling expenses Sales Cash Accounts receivable, net Garcon Company $ 12,700 18,800 8,900 27,500 21,600 20,150 23,800 7,600 11,400 24,500 14,200 7,700 43,500 53,200 294,720 30,000 15,200 Pepper Company $ 19,750 22,350 14,700 23,500 44,200 14,100 18,400 9,600 16,250 52,000 13,120 3,700 58,000 54,700 391,1801 24,200 20,700 1. Compute the total prime costs for both Garcon Company and Pepper Company. 2. Compute the total conversion…
Calculate the cost of material available for use, cost of material issued and cost of material ending under FIFO and LIFO methods (periodic system). Also give the journal entries under each of the method. Date detail Units cost per unit Rs. Total cost Rs. Jan 1 beg inventory 20 10 200 Jan 5 Purchases 50 11 550 Jan 6 issued 30 Jan 9 Purchases 40 12 480 Jan 15 Purchases 20 13 260 Jan 20 Issued 60 Jan 28 Purchases 10 15 150
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)
What is the beginning inventory? You left it blank. Direct Materials Conversion costs Beginning Inventory ? ? ? Add: Current costs 3798000 2160000 1638000 ($594000+$1044000) Total costs to account for (A) 3798000 2160000 1638000
Please do not give solution in image format thanku
Rey
Final Exam Units Unit You sell 100 units in $2.00 June. Calculate the cost of goods sold using last-in, first-out. Received Cost June 4 70 June 11 30 $3.00 June 18 60 $2.10 June 25 40 $2.40 A. $2.22 B. $2.10 C. $2.30 D. $2.26 21 Acellus Corporation. All Rights Reserved.
Please do not give solution in image format thanku
Please provide answer in text (Without image)
Help please
https://ezto.mheducation.com/ext/map/index. 01:43:47 eBook Mc Graw Hill 3 XYZ Company manufactures and sells a single product. A partially completed schedule of the company's total costs and costs per unit over the relevant range of 54,000 to 94,000 units is given below: 76°F Sunny Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required: 1. Complete the schedule of the company's total costs and costs per unit as given in the relevant tab below. 2. Assume that the company produces and sells 84,000 units during the year at a selling price of $8.60 per unit. Prepare a contribution format income statement for the year. Total cost: Variable cost Fixed cost Total cost Cost per unit: Complete the schedule of the company's total costs and costs per unit as given in the relevant tab below. (Rou variable cost and fixed cost to 2 decimal places.) Variable cost Fixed cost Total cost per unit $ Saved $ $ 54,000 Units Produced and Sold 74,000 140,400 370,000…

SEE MORE QUESTIONS

Recommended textbooks for you

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…

Accounting

ISBN:

9780134475585

Author:

Srikant M. Datar, Madhav V. Rajan

Publisher:

PEARSON

Intermediate Accounting

Accounting

ISBN:

9781259722660

Author:

J. David Spiceland, Mark W. Nelson, Wayne M Thomas

Publisher:

McGraw-Hill Education

Financial and Managerial Accounting

Accounting

ISBN:

9781259726705

Author:

John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS