FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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- The following information is available for Bandera Manufacturing Company for the month ending January 31: Cost of goods manufactured $177,180 Selling expenses 59,180 Administrative expenses 31,290 Sales 376,970 Finished goods inventory, January 1 42,600 Finished goods inventory, January 31 38,830 a. For the month ended January 31, determine Bandera Manufacturing’s cost of goods sold. Bandera Manufacturing Company Cost of Goods Sold January 31 $fill in the blank 485dbcfbb05e064_2 fill in the blank 485dbcfbb05e064_4 $fill in the blank 485dbcfbb05e064_6 fill in the blank 485dbcfbb05e064_8 $fill in the blank 485dbcfbb05e064_10 b. For the month ended January 31, determine Bandera Manufacturing’s gross profit. Bandera Manufacturing Company Gross Profit January 31 $fill in the blank bdadc6f76009002_2 fill in the blank bdadc6f76009002_4 $fill in the blank bdadc6f76009002_6 c. For the month ended…arrow_forwardThe following information is included below for Golden Gadgets: Raw Materials Inventory $7,500, COGS(Product) $42,140, Depreciation $11,253, Work-in-Process inventory $13,489, Cash $19,710, Revenues (Product) $105,328, SG&A $6,840, Finished Goods Inventory $18,190, Accounts Receivable $7,140. Compute the Gross Margin for Golden Gadgetsarrow_forwardNn. 104.arrow_forward
- At the end of January, Mineral Labs had an inventory of 855 units, which cost $8 per unit to produce. During February the company produced 1,300 units at a cost of $12 per unit. a. If the firm sold 1,650 units in February, what was the cost of goods sold? (Assume LIFO inventory accounting.) Cost of goods sold b. If the firm sold 1,650 units in February, what was the cost of goods sold? (Assume FIFO inventory accounting.) Cost of goods soldarrow_forwardCost of Goods Sold, Profit margin, and Net Income for a Manufacturing Company The following information is available for Bandera Manufacturing Company for the month ending January 31: Cost of goods manufactured $148,080 Selling expenses 49,470 Administrative expenses 26,150 Sales 315,070 Finished goods inventory, January 1 35,600 Finished goods inventory, January 31 32,450 For the month ended January 31, determine Bandera's (a) cost of goods sold, (b) gross profit, and (c) net income. (a) Bandera Manufacturing Company Cost of Goods Sold January 31 Sales $fill in the blank b71124ffbf90fa3_2 Gross profit fill in the blank b71124ffbf90fa3_4 $fill in the blank b71124ffbf90fa3_6 fill in the blank b71124ffbf90fa3_8 $fill in the blank b71124ffbf90fa3_10 (b) Bandera Manufacturing Company Gross Profit January 31 $fill in the blank abf993ffc04afc7_2 fill in the blank abf993ffc04afc7_4 $fill in the blank…arrow_forwardThe 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.arrow_forward
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