Please assist The 20X6 data that follow pertain to Rays, a manufacturer of swimming goggles. Rays had nobeginning inventories in January 20X6.Selling price per unitVariable manufacturing expense per unitSales commission expense per unit$35.00$15.00$5.00Fixed manufacturing overheadFixed operating expense# of goggles produced# of goggles sold$2,000,000$250,000200,000185,000Required:а)Calculate the following for Raysi)The total cost per unitii)The value of ending inventories using marginal costingii)The value of ending inventories using total costing

On January 20x6, No beginning inventory Selling price per unit = $35 Variable cost per unit…

The 20X6 data that follow pertain to Rays, a manufacturer of swimming goggles. Rays had no beginning inventories in January 20X6. Selling price per unit Variable manufacturing expense per unit Sales commission expense per unit $35.00 $15.00 $5.00 Fixed manufacturing overhead $2,000,000 Fixed operating expense # of goggles produced # of goggles sold $250,000 200,000 185,000 Required: a) Calculate the following for Rays i) The total cost per unit ii) The value of ending inventories using marginal costing ii) The value of ending inventories using total costing

The 20X6 data that follow pertain to Rays, a manufacturer of swimming goggles. Rays had no beginning inventories in January 20X6. Selling price per unit Variable manufacturing expense per unit Sales commission expense per unit $35.00 $15.00 $5.00 Fixed manufacturing overhead $2,000,000 Fixed operating expense # of goggles produced # of goggles sold $250,000 200,000 185,000 Required: a) Calculate the following for Rays i) The total cost per unit ii) The value of ending inventories using marginal costing ii) The value of ending inventories using total costing

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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The 20X6 data that follow pertain to Rays, a manufacturer of swimming goggles. Rays had no beginning inventories in January 20X6. Selling price per unit $35.00Variable manufacturing expense per unit $15.00Sales commission expense per unit $5.00Fixed manufacturing overhead $2,000,000Fixed operating expense $250,000# of goggles produced 200,000# of goggles sold 185,000 Required:a) Calculate the following for Raysi) The total cost per unitii) The value of ending inventories using marginal costingiii) The value of ending inventories using total costing b) Prepare a variable costing (contribution margin) income statement for Rays for the year ended December 31, 20X6. c) Rays marketing vice president believes a new sales promotion that costs $150,000would increase sales to 200,000 goggles. Should the company go ahead with the promotion? Give your reason.
Foremost Footwear Inc.Product-Line Income StatementFor the Year Ended April 30, 20Y7 Children's Shoes Men's Shoes Women's Shoes Total Sales $165,000 $300,000 $500,000 $965,000 Costs of goods sold: Variable costs $105,000 $150,000 $220,000 $475,000 Fixed costs 32,000 60,000 120,000 212,000 Total cost of goods sold $137,000 $210,000 $340,000 $687,000 Gross profit $28,000 $90,000 $160,000 $278,000 Selling and adminstrative expenses: Variable selling and admin. expenses $21,000 $45,000 $95,000 $161,000 Fixed selling and admin. expenses 17,000 20,000 25,000 62,000 Total selling and admin. expenses $38,000 $65,000 $120,000 $223,000 Income (loss) from operations $(10,000) $25,000 $40,000 55,000 If the Children Shoe's are discontinued, the company's income would decrease by $fill in the blank 3.
Hagrid Gardening Corporation manufactures gardening products. The following information relates to the current period: DM Purchased $14,900 DM Inventory, Jan 1 $12,700 DM Inventory, Dec 31 $16,100 DL $6,400 MOH $16,700 Period Costs $10,500 WIP Inventory, Jan 1 $2,500 WIP Inventory, Dec 31 $8,000 FG Inventory, Jan 1 $19,500 FG Inventory, Dec 31 $4,800 A total of 5,000 products were sold for $25 each. Based on this information, please calculate the following: Cost of Goods Sold?
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Hagrid Gardening Corporation manufactures gardening products. The following information relates to the current period: DM Purchased $14,900 DM Inventory, Jan 1 $12,700 DM Inventory, Dec 31 $16,100 DL $6,400 MOH $16,700 Period Costs $10,500 WIP Inventory, Jan 1 $2,500 WIP Inventory, Dec 31 $8,000 FG Inventory, Jan 1 $19,500 FG Inventory, Dec 31 $4,800 A total of 5,000 products were sold for $25 each. Based on this information, please calculate the following: Operating Income?
20. Hardigan Manufacturing Company reported the following year end information: Beginning work in process inventory Cost of goods manufactured Beginning finished goods inventory Ending work in process inventory Ending finished goods inventory $80,000 S950,000 S00,000 $70.000 $50,000 How much is Hardigan's cost of goods sold for the year? a S070,000 b. $1,000,000 e. SO80,000 d. S060.000
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Cost of Goods Manufactured; Income Statement The following data pertain to BaborCompany for the fiscal year ended December 31:[LO 3-4]Prior December 31 Current December 31Purchases of materials $165,000Direct labor 114,000Indirect labor 45,000Factory insurance 8,000Depreciation—factory 33,000Repairs and maintenance—factory 11,000Marketing expenses 144,000General and administrative expenses 86,000Materials Inventory $23,000 55,000Work-in-Process Inventory 13,000 16,000Finished Goods Inventory 17,000 24,000Sales in the current year were $625,000.Required Prepare a schedule of cost of goods manufactured and an income statement for the current yearfor Babor Company similar to those in Exhibit 3.15A.
BRIAN POGI Co. manufactured the following units: Saleable 10,000 units Unsaleable Normal Loss 400 units Abnormal Loss 600 units Manufacturing costs totaled P198.000. How much is the period cost?
Brian Pogi Co. manufactured the following units: Saleable 10,000 units Unsaleable Normal Loss 400 units Abnormal Loss 600 units Manufacturing costs totaled P198,000. a. How much is the period cost? b. What amount should the entity debit to finished goods?
15:20|0.0KB/s0 1al 23 Tutorial 11.pdf 2. The following information taken from Jejai Limited: Credit Debit RM 258.000 21,000 17,000 59,000 4,000 21,000 Particulars RM Purchase of raw materials Fuel and light Administration salaries Factory wages Carriage outwards Rent and business rates Sales Return inward General office expenses Repairs to plant and machinery Inventory at 1 January 2020: Raw materials Work in process Finished goods Sundry accounts payable Capital Freehold premises 482,000 7,000 9,000 9,000 21,000 14,000 23,000 37,000 457,000 410,000 80,000 20,000 Plant and machinery Accounts receivable Accumulated provision for depreciation on plant and machinery Cost in hand 8,000 11,000 984,000 984,000 ТОTAL Prepared by: Puan Siti Nor Junita Mohd Radzi Additional information: i. Inventory in hand at 31 December 2020: a. Raw materials RM25,000 b. Work in process c. Finished goods RM11,000 RM26,000 ji. Depreciation of 10% on plant and machinery using the straight-line method 80% of…
q2: Junko Company manufactures financial calculators and produced 97,000 units during the year. The finished goods inventory was 1,260 units on January 1 and 1,040 units on December 31. The average unit cost is $118, what was the cost of goods manufactured and the cost of goods sold for the year? Please choose the correct option and show your calculation to validate your selection: A. $11,446,000 & $11,471,960 B. $10,839,680 & $11,446,000 C. $11,446,000 & $12,839,680 D. $10,888,240 & $11,446,000