Compute cost of goods sold for 2017 using the following information. Finished goods inventory, Dec. 31, 2016
Question:
Finished goods inventory, Dec. 31, 2016 . . . . . . . . . . . . . . . . . $345,000
Work in process inventory, Dec. 31, 2016 . . . . . . . . . . . . . . . . . . 83,500
Work in process inventory, Dec. 31, 2017 . . . . . . . . . . . . . . . . . . 72,300
Cost of goods manufactured, 2017 . . . . . . . . . . . . . . . . . . . . . . 918,700
Finished goods inventory, Dec. 31, 2017 . . . . . . . . . . . . . . . . . 283,600
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 53% (13 reviews)
Finished goods inventory December 31 2016 345000 Plus cost of ...View the full answer
Answered By
Aysha Ali
my name is ayesha ali. i have done my matriculation in science topics with a+ . then i got admission in the field of computer science and technology in punjab college, lahore. i have passed my final examination of college with a+ also. after that, i got admission in the biggest university of pakistan which is university of the punjab. i am studying business and information technology in my university. i always stand first in my class. i am very brilliant client. my experts always appreciate my work. my projects are very popular in my university because i always complete my work with extreme devotion. i have a great knowledge about all major science topics. science topics always remain my favorite topics. i am also a home expert. i teach many clients at my home ranging from pre-school level to university level. my clients always show excellent result. i am expert in writing essays, reports, speeches, researches and all type of projects. i also have a vast knowledge about business, marketing, cost accounting and finance. i am also expert in making presentations on powerpoint and microsoft word. if you need any sort of help in any topic, please dont hesitate to consult with me. i will provide you the best work at a very reasonable price. i am quality oriented and i have 5 year experience in the following field.
matriculation in science topics; inter in computer science; bachelors in business and information technology
_embed src=http://www.clocklink.com/clocks/0018-orange.swf?timezone=usa_albany& width=200 height=200 wmode=transparent type=application/x-shockwave-flash_
4.40+
11+ Reviews
14+ Question Solved
Related Book For
Fundamental Accounting Principles
ISBN: 978-1259536359
23rd edition
Authors: John Wild, Ken Shaw, Barbara Chiappett
Question Posted:
Students also viewed these Cost Accounting questions
-
Lemon Automobiles has asked your bank for a $100,000 loan to expand its sales facility. Lemon provides you with the following data: * The 2016 ending inventory was $470,000 (FIFO). Your inspection of...
-
Compute cost of goods sold for each of these two companies for the year ended December 31, 2017. Precision Unimart Manufacturing 3 Beginning inventory 4 Merchandise 5 Finished goods 6 Cost of...
-
Beck Manufacturing reports the account information below for 2017. Using this information: 1. Prepare the schedule of cost of goods manufactured for the year. 2. Compute cost of goods sold for the...
-
Show that for a linear ODE y' + p(x)y = r(x) with continuous p and r in |x - x 0 | < a Lipschitz condition holds. This is remarkable because it means that for a linear ODE the continuity of f(x, y)...
-
How should the unamortized portion of the cost of a copyright be reported on the balance sheet?
-
a. Graph the function b. Compute and graph f' and determine (perhaps approximately) the points at which f'(x) = 0. c. Verify that the zeros of f' correspond to points at which f has a horizontal...
-
The CEO of Evans \& Sons, Inc., was considering a lease for a new administrative headquarters building. The building was old, but was very well located near the company's principal customers. The...
-
On May 1, 2010 Kirmer Corp. purchased $450,000 of 12% bonds, int. payable on January 1 & July 1 for $422,800+accrued interest. Bonds mature on Jan. 1 2016.Amortization is recorded when interest is...
-
Match each GAAP principle to its best description. Cost principle Matching principle Time-period principle Revenue principle Monetary unit principle Full disclosure principle Express amounts in a...
-
Haliburton Mills Inc. is a large producer of men's and women's clothing. The company uses standard costs for all of its products. The standard costs and actual costs for a recent period are given...
-
Access 3M Co.'s annual report (10-K) for the fiscal year ended December 31, 2014, at the SEC's EDGAR database (SEC.gov) or its website (3M.com). From its balance sheet, identify the titles and...
-
Prepare the 2017 schedule of cost of goods manufactured for Barton Company using the following information. Direct materials . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ....
-
In Problems 21 34, plot each point given in polar coordinates. (-1, 7 3
-
ABC Company is a manufacturer of large ceramic vases. The standard materials quantity is 0.5 pound of ceramic per vase at a standard price of $1.60 per pound. The actual quantity for the production...
-
* If you HAD to choose a method of punishment to use, which would you choose to use? *Describe the targeted behavior you would choose to use this method of punishment to eliminate. * Why would you...
-
Baker Company manufactures three products: A, B and C. The selling price, variable costs and contribution margin for one unit of eac product follow: Selling price Less: Variable expenses: Direct...
-
An online retailer states that the average number of hours its customers are online each day is 4.96. Suppose a random sample of size 15 of the company's customers is selected and the average number...
-
A corporate borrower ended into an interest rate swap with a money center bank last year. Interest rates have moved fortuitously in the borrower's favor. The fair value of the swap is now $2,625,000...
-
Do you think that comparisons of SAT scores over 2 years are meaningful? Over 10 years? Do you agree that the long-term trends indicate that students today have poorer verbal skills but better...
-
Let (x) = x 2 - 9, g(x) = 2x, and h(x) = x - 3. Find each of the following. (((--) 2
-
Access the February 24, 2012, filing of the 2011 calendar-year 10-K report of McDonald's, (ticker MCD) from www.sec.gov. Required 1. Review McDonald's balance sheet and identify how many classes of...
-
Access the February 17, 2012, filing of the December 31, 2011, 10-K report of The Hershey Company (ticker HSY) at www.sec.gov and complete the following requirements. Required Compute or identify the...
-
A company has year-end cost of goods manufactured of $4,000, beginning finished goods inventory of $500, and ending finished goods inventory of $750. Its cost of goods sold is 1. $4,250 2. $4,000 3....
-
Although appealing to more refined tastes, art as a collectible has not always performed so profitably. Assume that in 2015, an auction house sold a statute at auction for a price of $10,584,500....
-
Johannesburg - Chile's CFR Pharmaceuticals said on Friday it would drop its $1.2bn bid for drugmaker Adcock Ingram [JSE:AIP] after being thwarted by Adcock's top shareholder. "Shareholders are...
-
Wilma is considering opening a widget factory. The unlevered cost of equity for making widgets is 0.13. This factory would cost $11 million to set up, and would produce EBIT of $3 million per year...
Study smarter with the SolutionInn App