The following data are obtained from Glendale Sompany for a given period: Cost of goods manufactured, P187,500 Inventory variations inventory is one-third based on raw materials beginning; no initial inventory of work in process, but at end of period P12,500 was on hand; finished goods inventory was four times as large at end of period as at the start. are as follows: raw materials ending thed SCConNE Net income after taxes amounted to P26,000, income tax rate is 35% Purchase of raw materials amounted to net income before taxes Breakdown of costs incurred in manufacturing was as follows: 00 Raw materials consumed, 50% Direct labor, 30% 000010 Overhead, 20% 5. The raw materials available for use amounted to A AA

The annual data that follows pertain to See It​, a manufacturer of swimming goggles​ (the company had no beginning​ inventory): Sales price. . . . . . . . . . . . . . . . . . . . . . . . . $49 Variable manufacturing expense per unit. . $17 Sales commission expense per unit. . . . . . $9 Fixed manufacturing overhead. . . . . . . . . . $1,980,000 Fixed operating expenses. . . . . . . . . . . . . . $245,000 Number of goggles produced. . . . . . . . . . . 220,000 Number of goggles sold. . . . . . . . . . . . . . . 200,000   Requirements:  1. Prepare both conventional​ (absorption costing) and contribution margin​ (variable costing) income statements for See It for the year.                                                                                               2. Which statement shows the higher operating​ income? Why? 3. The company marketing vice president believes a new sales promotion that costs $150,000 would increase sales to 220,000 goggles. Should the company…

V Company's net income computed by the Full Costing Method was Php6,400.00 and its net income computed by the Variable Costing Method was Php9,100.00. The company's unit cost was Php17.00 under Variable Costing Method and Php20.00 under Full Costing Method. If ending inventory consisted of 2,100 units, the beginning inventory in units must have been? 1,200 units O 4,800 units 2,100 units 3,000 units

The following information has been taken from the perpetual inventory system of Imperial Manufacturing Company for the month ended September 30: Purchases of direct materials $ 91,000 Direct materials used $ 71,600 Direct labor costs assigned to production $ 28,000 Manufacturing overhead costs incurred $ 49,500 Balances in inventory September 30 September 1 Materials $ ? $ 67,000 Work in Process $ 41,000 $ 54,500 Finished Goods $ 68,000 $ 73,000 The cost of finished goods manufactured in September is:

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In presenting inventory on the balance sheet December 31, 2021, the unit cost under absorption costing is

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.

The following information has been taken from the perpetual inventory system of Elite Mfg Co. for the month ended August 31: Purchases of direct materials Direct materials used Direct labor costs assigned to production $60,000 $50,000 $25,000 Manufacturing overhead costs incurred (and applied) $35,000 發 Balances in inventory August 31 August 1 Materiais Work in Process Finished Goods $65,000547,000 $60.000 *Sue00 M The total amount of inventory to be included in Elite's August 31st balance sheet amounts to A. $135,000 B. $210,000 C. $160,000 D. Some other amount 1 1109

SuperStar company operates 50 weeks per year, and its cost of goods sold last year was $2,000,000. The firm carries four items in inventory: two raw materials, two work-in-process items. The following table shows last year's average inventory levels for these items, along with their unit values. Part Number RM₁ RM₂ WIP₁ WIP₂ 7.175 4.175 6.175 Average 5.175 Inventory (units) Value ($/unit) 15,000 10,000 5,000 6,000 How many weeks of supply does the firm have? 3.00 5.00 8.00 12.00

Lakeshore Manufacturing provided the following information for the month ended March 31: Sales Revenue $31,000 Beginning Finished Goods Inventory 7,000 Ending Finished Goods Inventory 8,500 Cost of Goods Manufactured 11,600 Compute gross profit. OA. $19,400 OB. $17,900 OC. $10,900 O D. $20,900 ***