The following account balances and other information are from
SUNN Corporation’s accounting records for year-end December...
The following account balances and other information are from
SUNN Corporation’s accounting records for year-end December 31
2019.
Use this information to prepare a (A) table listing factory
overhead costs, (B) a schedule of cost of goods manufactured and
(C) an Income statement.
Inventories :
$’000
$’000
Finished goods inventory Dec. 31 2018
Finished goods inventory Dec. 31 2019
15,000
12,500
Sales
1,750,000
Work in process inventory Dec. 31 2018
Work in process inventory Dec. 31 2019
8,000
9,000
Depreciation...
14 Compare the reasons for the changes in
return on equity for Eastnorth Manufacturing and its...
14 Compare the reasons for the changes in
return on equity for Eastnorth Manufacturing and its industry.
Balance Sheets for INDUSTRY:
December 31
2017
2016
2015
ASSETS
Cash and marketable securities
$30,000
$25,000
$20,000
Accounts receivable
110,000
90,000
60,000
Inventories
100,000
80,000
80,000
Total current assets
240,000
195,000
160,000
Gross plant and equipment
250,000
220,000
200,000
Less: accumulated depreciation
−100,000
−65,000
−50,000
Net plant and equipment
150,000
155,000
150,000
Land
50,000
50,000
50,000
Total fixed assets
200,000
205,000
200,000
Total...
The following information applies to the questions displayed
below.]
Raner, Harris & Chan is a consulting...
The following information applies to the questions displayed
below.]
Raner, Harris & Chan is a consulting firm that specializes
in information systems for medical and dental clinics. The firm has
two offices—one in Chicago and one in Minneapolis. The firm
classifies the direct costs of consulting jobs as variable costs. A
contribution format segmented income statement for the company’s
most recent year is given:
Office
Total Company
Chicago
Minneapolis
Sales
$
450,000
100
%
$
150,000
100
%
$
300,000...
The following data (in thousands of dollars) have been taken
from the accounting records of TCorp...
The following data (in thousands of dollars) have been taken
from the accounting records of TCorp for the just completed
year:
Administrative expenses $ 600
Direct labor 800
Finished goods inventory, beginning 480
Finished goods inventory, ending 640
Manufacturing overhead 920
Purchases of raw materials 480
Raw materials inventory, beginning 160
Raw materials inventory, ending 280
Sales 3,960
Selling expenses 560
Work in process inventory, beginning 280
Work in process inventory, ending 200
Answer the two questions below.
1)
What...
Question 2
Smith Ltd manufactures and sells one product. You are presented
with the following information...
Question 2
Smith Ltd manufactures and sells one product. You are presented
with the following information for the preparation of the annual
operating budget for the period ending 31 December 2021:
Estimated sales in units are 50,000 units for Quarter 1, 53,000
units for Quarter 2, 62,000 units for Quarter 3, and 65,000 units
for Quarter 4. The estimated per unit selling price is $9 for
Quarters 1-3, and $10 for Quarter 4.
Smith Ltd has set the desired ending...