1-Various cost and sales data for Dorilane Company for the just completed year appear in the...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
1-Various cost and sales data for Dorilane Company for the just completed year appear in the work sheet below: (11 marks) Microsoft Excel Ele Edit View Insert Format Tools Data Window Help 100% 12 1 2 SR X BIURE E17 fix A Finished goods inventory, beginning Finished goods inventory, ending 3 Administrative expenses 4 Manufacturing overhead 5 Purchases of raw materials 6 7 % A Raw materials inventory, beginning Raw materials inventory, ending 8 Direct labor 9 Work in process inventory, beginning 10 Work in process inventory, ending 11 Sales 12 Selling expenses 13 Sheet1/Sheet2 Sheet3/ B $20,000 $40,000 $110,000 $105,000 $125,000 $9,000 $6,000 $70,000 $17,000 $30,000 $500,000 $80,000 DIS Required: 1. Calculate cost of goods manufactured. (4 marks) 2. Calculate the cost of goods sold. (3 marks) 3. Compute the net income for the given year. (4 marks) 1-Various cost and sales data for Dorilane Company for the just completed year appear in the work sheet below: (11 marks) Microsoft Excel Ele Edit View Insert Format Tools Data Window Help 100% 12 1 2 SR X BIURE E17 fix A Finished goods inventory, beginning Finished goods inventory, ending 3 Administrative expenses 4 Manufacturing overhead 5 Purchases of raw materials 6 7 % A Raw materials inventory, beginning Raw materials inventory, ending 8 Direct labor 9 Work in process inventory, beginning 10 Work in process inventory, ending 11 Sales 12 Selling expenses 13 Sheet1/Sheet2 Sheet3/ B $20,000 $40,000 $110,000 $105,000 $125,000 $9,000 $6,000 $70,000 $17,000 $30,000 $500,000 $80,000 DIS Required: 1. Calculate cost of goods manufactured. (4 marks) 2. Calculate the cost of goods sold. (3 marks) 3. Compute the net income for the given year. (4 marks)
Expert Answer:
Answer rating: 100% (QA)
1 To calculate the cost of goods manufactured we need to add up the direct materials used direct lab... View the full answer
Related Book For
Managerial Accounting for Managers
ISBN: 978-0073527130
2nd edition
Authors: Eric Noreen, Peter Brewer, Ray Garrison
Posted Date:
Students also viewed these accounting questions
-
Sunrise UK is a subsidiary of Sunrise Coffee Ltd., a company operating in 60 countries around the world. Sunrise UK employs 7000 staff across 600 coffee shops. Since it began operating in the UK,...
-
Various cost and sales data for Meriwell Company for the just completed year appear in the worksheet below: Of the $105,000 of manufacturing overhead, $15,000 is variable and $90,000 is fixed....
-
Various cost and sales data for Medco, Inc., are given below for the just completed year: Required: 1. Prepare a schedule of cost of goods manufactured. 2. Prepare an income statement. 3. Assume that...
-
Reynolds number is: i. a dimensionless quantity ii. inversely proportional to viscosity of liquid iii. directly proportional to velocity of liquid iv. used for quantifying the laminar or turbulent...
-
Theorems on errors prove Theorem 1(a) for addition.
-
What advice about project closing is most useful to you? What other advice would you add?
-
The CEO of Evans \& Sons, Inc., negotiated with its principal supplier of raw materials to purchase 10,000 units for a total price of \(\$ 100,000\). The units are to be delivered in 90 days. The CEO...
-
Wayne-Martin Electric Inc. (WME) has just developed a solar panel capable of generating 200 percent more electricity than any solar panel currently on the market. As a result, WME is expected to...
-
other items that may be addressed in the will include: power to equate the value of the assets power to increase the value of the assets power to decrease the value to the assets power to assign a...
-
Determine Vo1 and Vo2 and the networks of Fig. 2.154. Ge Si 1.2 k2 +12 Vo- -10 V o o Vo 92 3.3 k
-
On January 1, 2021, Rival grants 100,000 stock options to employees. Each option entitles the employee to purchase one share of Rivals $1 par common stock for a $12 exercise price at any time during...
-
Describe the anatomical and physiological characteristics of the renal system, including the nephron structure, renal blood flow regulation, and mechanisms of urine concentration and dilution, and...
-
MM Corp. has 50,000 shares outstanding with share price of $18. It has debt with market value of $300,000. The equity beta is 1.2 and debt beta is 0.1. The risk-free rate is 2% and the market risk...
-
At the movies, a bag of popcorn costs $3.50 and a bottle of mineral water costs $2.75. If Madeline has $18 and bought only 2 bottles of water, how many bags of popcorn can she buy at most?
-
you are a judge considering two cases for probation. One is a person charged with possession of drugs, but this defendant is 50 years old and has been arrested for shoplifting things like cigarettes...
-
In a two- to four-page MS Word document submit: IRAC brief Compare and contrast analysis Proper Bluebook citations are required . Assignment Directions Step 1: Use NexisUni to locate the following...
-
Many businesses borrow money during periods of increased business activity to finance Inventory and accounts receivable. Federal Way, Incorporated, is one of America's most prestigious retailers....
-
After Theorem 1.5 we note that multiplying a row by 0 is not allowed because that could change a solution set. Give an example of a system with solution set S0 where after multiplying a row by 0 the...
-
Refer to the data for Kuvomi Corporation in Problem 5-19. Data From 5-19 Required: Using the indirect method, what is the cost of goods sold for October? Job F346 Job F347 Job F348 Job F349 Beginning...
-
Following are a number of cost terms introduced in the chapter: Variable cost......................... Product cost Fixed cost............................... Sunk cost Prime...
-
The questions in this problem are based on Blue Nile, Inc. To answer the questions, you will need to download Blue Nile's 2004 Form 10-K at www.sec.gov/edgar/searchedgar/companysearch. html. Once at...
-
Repeat the numerical integration in Example 15-5, except use the quadrature formula, Eq. \((9-12)\) Example 5-5 Equation (9-12) A steady-state system of ethanol and water has equimolar...
-
A column arrangement similar to Figure \(15-2\) is used for organic liquids. A large reservoir of water is under the column. The water is stirred and solute concentration in the water is constant....
-
For the same system as in Problem 15.D1, the high concentration \(\mathrm{C}_{\mathrm{A}, 0}=1.2 \mathrm{~kg} / \mathrm{m}^{3}\) and \(\mathrm{C}_{\mathrm{A}, \mathrm{L}}=0.9701 \mathrm{~kg} /...
Study smarter with the SolutionInn App