SuperStar company operates 50 weeks per year, and its cost of goods sold last year was $2,000,000.The firm carries four items in inventory: two raw materials, two work-in-process items. The followingtable shows last year's average inventory levels for these items, along with their unit values.PartNumberRM₁RM₂WIP₁WIP₂7.1754.1756.175Average5.175Inventory (units) Value ($/unit)15,00010,0005,0006,000How many weeks of supply does the firm have?3.005.008.0012.00

Working Note#1Computation of average aggregate inventory value:Snapshot of cell reference:Snapshot…

Answered: SuperStar company operates 50 weeks per…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Belle Company reports the following information for the current year. All beginning inventory amounts equaled $0 this year. Units produced this year 105,000 units Units sold this year 63,000 units Direct materials $ 29 per unit Direct labor $ 31 per unit Variable overhead $ 3 per unit Fixed overhead $ 918,750 in total Belle Company's product is sold for $89 per unit a Variable selling and administrative expense is $2 per unit and fixed selling and administrative is $370,000 per year. Compute the net income under variable costing.
please solve question 4 to question 7. thanks
Whitman Company has just completed its first year of operations. The company's traditional format income statement for the year follows: Whitman Company Income Statement Sales (35,000 units × $25 per unit) Cost of goods sold (35,000 units × $15 per unit) Gross margin Selling and administrative expenses Net operating income Amount $ 875,000 525,000 350,000 278,000 $ 72,000 The company's selling and administrative expenses consist of $208,000 per year in fixed expenses and $2 per unit sold in variable expenses. The $15 unit product cost given above is computed as follows: Direct materials Direct labor Variable overhead Fixed overhead ($100,000 ÷ 50,000 units) Unit product cost (under traditional costing) $ 6 6 1 2 $15 Required: 1. Prepare a contribution format income statement for the year ended December 31. 2. What was the contribution toward fixed expenses and profits for each unit sold? (State this figure in a single dollar amount per snowboard.) 3. What would operating income be if…
A company had $270,000 in sales; $150,000 in goods available for sale; ending finished goods inventory of $30,000, and selling and administrative expenses of $65,000. Which of the following statements is true？ 1. Net income was 28% of sales 2. The costs of goods sold was $137,000 3. The beginning finished goods inventory is not determinable. 4. The gross income was $93,000
Yale Company manufactures hair brushes that sell at wholesale for $3 per unit. The company had no beginning inventory in the prior year. These data summarize the current and prior year operations: Prior Year Current Year Sales (000s) 2,300 units 3, 700 units Production (000s) 3,000 units 3,000 units Production cost Factory-variable (per unit) $ 0.60 $ 0.60 —fixed (000s ) $ 1,500 $1,500 Marketing-variable (per unit) $ 0.40 $ 0.40 Administrative-fixed (000s) $ 500 $ 500 Required: 1. Prepare an income statement for each year based on full costing. 2. Prepare an income statement for each year based on variable costing. 3. Prepare a reconciliation of the difference each year in the operating income resulting from using the full costing method and variable costing method.Complete this question by entering your answers in the tabs below. Required 1 Prepare an income statement for each year based on full costing. (Enter your answers in thousands of dollars.)
The following information is derived from Fun & Game LLC financial statements. Annual usage of material is 1,000 units, average stock level is 1,400 units, re-order period is 6 – 10 weeks, minimum level is 800 units and normal rate of consumption is 150 units per week. Then calculate the re-order quantity. a. 800 units b. 1,200 units c. 1,000 units d. 400 units
Sisyphus Inc. records total sales of $657,500 in the current period, with a cost of goods sold of $389,000 . Sisyphus expects 4% of sales to be returned. How much in net sales will Sisyphus recognize for the current period? Group of answer choices $373,400 $268,500 $631,200 $657,500 $257,760 The Sisyphus Inc’s (SSY) Company’s annual statement of cash flows reported the following (in millions): Net cash from financing activities $63,864 Net cash from investing activities -62,512 Cash at the beginning of the year 13,152 Cash at the end of the year 18,948 What did SSY report for “Net cash from operating activities” during the year? Group of answer choices $71,220 million cash inflow None of the above $4,444 million cash outflow $4,444 million cash inflow $71,220 million cash outflow
The following is the year ended data for Tiger Company: Sales Revenue $58,000 Cost of Goods Manufactured 21,000 Beginning Finished Goods Inventory 1,100 Ending Finished Goods Inventory 2,200 Selling Expenses 15,000 Administrative Expenses 3,900 What is the gross profit? A. $22,100 B. $38,100 C. $19,200 D.
Darby Company, operating at full capacity, sold 122,200 units at a price of $102 per unit during the current year. Its income statement is as follows: Sales $12,464,400 Cost of goods sold 4,420,000 Gross profit $8,044,400 Expenses: Selling expenses $2,210,000 Administrative expenses 1,326,000 Total expenses 3,536,000 Income from operations $4,508,400 The division of costs between variable and fixed is as follows: Variable Fixed Cost of goods sold 60% 40% Selling expenses 50% 50% Administrative expenses 30% 70% Management is considering a plant expansion program for the following year that will permit an increase of $1,122,000 in yearly sales. The expansion will increase fixed costs by $149,600, but will not affect the relationship between sales and variable costs.
Istanbul Company makes special equipment. Each unit sells for $420. Istanbul uses just-in-time inventory procedures; it produces and sells 12,500 units per year. It has provided the following income statement data: Traditional Format Sales revenue Cost of goods sold $5,250,000 3,100,000 Gross profit 2,150,000 Selling & admin. expenses 670,000 Operating income A) increase by $16,940. Contribution Margin Format Sales revenue Variable costs: Manufacturing Selling & admin. $1,480,000 Operating income B) decrease by $22,500. Manufacturing Selling & admin. Contribution margin C) increase by $27,500. Fixed costs: $5,250,000 1,200,000 400,000 3,650,000 A foreign company has offered to buy 110 units for a reduced sales price of $250 per unit. The marketing manager says the sale will have no negative impact the company's regular sales. The sales manager says that this sale will not require any additional selling and administrative costs, as it is a one-time deal. The production manager reports…
Anthony Corporation reported the following amounts for the year: Net sales 296,000 Cost of goods sold 138,000 Average inventory 50,000 Anthony's gross profit ratio is: 53.4%. 51.9%. 50.3%. 46.6%. Anthony's average days in inventory is: 70 days. 114 days. 132 days. 151 days. A company's sales equal $60,000 and cost of goods sold equals $20,000. Its beginning inventory was $1,600 and its ending inventory is $2,400. The company's inventory turnover ratio equals: 5 times. 10 times. 20 times. 30 times. [Last question is in the picture attached]

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