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: 58% (12 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?
-
Wassons Classic Cars restore classic automobiles to showroom status. Budgeted data for the current year are as follows. The company anticipated that the restorers would work a total of 12,000 hours...
-
From the point of view of each observer in Figure \(6.5,\) (a) is the energy of each cart constant? (b) Is the isolated system containing cart 1 closed? (c) Is the isolated system containing cart 2...
-
Price and efficiency variances. Peterson Foods manufactures pumpkin scones. For January 2009, it budgeted to purchase and use 15000 pounds of pumpkin at $0.89 a pound. Actual purchases and usage for...
-
15. A simple LR circuit is connected to a battery at t = 0. The time instant at which rate of energy storage in inductor is half of power delivered by battery (a) In 2 (c) In 2 (b) In () (d) In 3 16....
-
The proposed rates were not in the range the CEO expected given the pricing analysis. The CEO has asked the pricing actuary to verify the total projected loss cost excluding potential large storm...
-
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 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ....
-
Ecosystems have _______. a. Energy gains and losses b. Nutrient cycling but not losses c. One feeding level d. A and b
-
How do you think fair financial reporting relates to corporate governance. Who is responsible for this and why?
-
What is the main requirement of the ftc safeguards rule for tax return preparer?
-
John is investing in a chainsaw to undertake timber felling. He purchases it from Courts for $800,000 and they will carry out yearly maintenance at a cost of $60,000 for him. The chainsaw will last 5...
-
Explain how nonprofit and charitable care facilities address accessibility and cost-of-care issues.
-
Within the domain of virtualization technologies, could you elucidate the intricate workings of hypervisors and containerization frameworks, and the impact they have on resource utilization,...
-
Watch Ethics in Computing: Real Ethics and Virtual Reality. Discuss whether Sony should have received permission from Manchester Cathedral before featuring that site in Resistance: Fall of Man.
-
The Ferris wheel in the figure has a radius of 68 feet. The clearance between the wheel and the ground is 14 feet. The rectangular coordinate system shown has its origin on the ground directly below...
-
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....
-
Ruzgar Inc., bonds were selling at $1,040 a year ago. A friend of yours invested into this bond and just received a $100 coupon payment. She sold the bond today for $1,200.If the inflation rate for...
-
Explain possible advantages and disadvantages of PSL's current international trading strategy (subsidiary in China, export & import and online presence).
-
In November 2020 you entered into four May 2021 long futures contracts for crude oil (1,000 barrels per contract) for $65.00 per barrel. If the futures price was $70.00 per barrel on December 31,...
Study smarter with the SolutionInn App