A Co reported the below cost and revenue formulas. Sales $27Q Cost of goods sold $12Q...

Transcribed Image Text:

A Co reported the below cost and revenue formulas. Sales $27Q Cost of goods sold $12Q Salaries expense $5,500 per month Utilities expense $125 plus $2.50Q Rent expense $2,000 per month Misc expense $500 plus $3.25Q They planned to sell 1,800 units and they actually sold 2,100 units. Following are the actual results from the period. Sales $58,500 Cost of goods sold $24,800 Gross margin $33,700 Salaries expense $6,000 Utilities expense $5,480 Rent expense $2,000 Misc expense $9.400 Net income $10.820 What is total gross margin for the planning budget? O $27,000 O $31,500 O Not enough information to calculate O $33,700 Question 2 A Co reported the below cost and revenue formulas. Sales $27Q Cost of goods sold $12Q Salaries expense $5,500 per month Utilities expense $125 plus $2.50Q Rent expense $2,000 per month Misc expense $500 plus $3.25Q They planned to sell 1,800 units and they actually sold 2,100 units. Following are the actual results from the period. Sales $58,500 Cost of goods sold $24,800 Gross margin $33,700 Salaries expense $6,000 Utilities expense $5,480 Rent expense $2,000 Misc expense $9.400 Net income $10,820 What is total cost of goods sold for the planning budget? O $25,200 $24,800 O $12 O $21,600 Question 3 The production budget reported the following total production in units for fiscal year 3. The company wants to maintaina desired ending raw material inventory in the current quarter equal to 10% of the next quarter's production. The only raw material used to produce a single unit is the 2 pounds of molding material. The material costs $1.20 per pound. The company began the first quarter of year 3 with 6,600 pounds in the beginning raw material inventory. Production (in units) Q1 33,000; Q2 40,000; Q3 32,500; Q4 35,550 What is the desired ending inventory for quarter 1? 3,250 6,600 4,000 8,000 A Co reported the below cost and revenue formulas. Sales $27Q Cost of goods sold $12Q Salaries expense $5,500 per month Utilities expense $125 plus $2.50Q Rent expense $2,000 per month Misc expense $500 plus $3.25Q They planned to sell 1,800 units and they actually sold 2,100 units. Following are the actual results from the period. Sales $58,500 Cost of goods sold $24,800 Gross margin $33,700 Salaries expense $6,000 Utilities expense $5,480 Rent expense $2,000 Misc expense $9.400 Net income $10.820 What is total gross margin for the planning budget? O $27,000 O $31,500 O Not enough information to calculate O $33,700 Question 2 A Co reported the below cost and revenue formulas. Sales $27Q Cost of goods sold $12Q Salaries expense $5,500 per month Utilities expense $125 plus $2.50Q Rent expense $2,000 per month Misc expense $500 plus $3.25Q They planned to sell 1,800 units and they actually sold 2,100 units. Following are the actual results from the period. Sales $58,500 Cost of goods sold $24,800 Gross margin $33,700 Salaries expense $6,000 Utilities expense $5,480 Rent expense $2,000 Misc expense $9.400 Net income $10,820 What is total cost of goods sold for the planning budget? O $25,200 $24,800 O $12 O $21,600 Question 3 The production budget reported the following total production in units for fiscal year 3. The company wants to maintaina desired ending raw material inventory in the current quarter equal to 10% of the next quarter's production. The only raw material used to produce a single unit is the 2 pounds of molding material. The material costs $1.20 per pound. The company began the first quarter of year 3 with 6,600 pounds in the beginning raw material inventory. Production (in units) Q1 33,000; Q2 40,000; Q3 32,500; Q4 35,550 What is the desired ending inventory for quarter 1? 3,250 6,600 4,000 8,000 A Co reported the below cost and revenue formulas. Sales $27Q Cost of goods sold $12Q Salaries expense $5,500 per month Utilities expense $125 plus $2.50Q Rent expense $2,000 per month Misc expense $500 plus $3.25Q They planned to sell 1,800 units and they actually sold 2,100 units. Following are the actual results from the period. Sales $58,500 Cost of goods sold $24,800 Gross margin $33,700 Salaries expense $6,000 Utilities expense $5,480 Rent expense $2,000 Misc expense $9.400 Net income $10.820 What is total gross margin for the planning budget? O $27,000 O $31,500 O Not enough information to calculate O $33,700 Question 2 A Co reported the below cost and revenue formulas. Sales $27Q Cost of goods sold $12Q Salaries expense $5,500 per month Utilities expense $125 plus $2.50Q Rent expense $2,000 per month Misc expense $500 plus $3.25Q They planned to sell 1,800 units and they actually sold 2,100 units. Following are the actual results from the period. Sales $58,500 Cost of goods sold $24,800 Gross margin $33,700 Salaries expense $6,000 Utilities expense $5,480 Rent expense $2,000 Misc expense $9.400 Net income $10,820 What is total cost of goods sold for the planning budget? O $25,200 $24,800 O $12 O $21,600 Question 3 The production budget reported the following total production in units for fiscal year 3. The company wants to maintaina desired ending raw material inventory in the current quarter equal to 10% of the next quarter's production. The only raw material used to produce a single unit is the 2 pounds of molding material. The material costs $1.20 per pound. The company began the first quarter of year 3 with 6,600 pounds in the beginning raw material inventory. Production (in units) Q1 33,000; Q2 40,000; Q3 32,500; Q4 35,550 What is the desired ending inventory for quarter 1? 3,250 6,600 4,000 8,000 A Co reported the below cost and revenue formulas. Sales $27Q Cost of goods sold $12Q Salaries expense $5,500 per month Utilities expense $125 plus $2.50Q Rent expense $2,000 per month Misc expense $500 plus $3.25Q They planned to sell 1,800 units and they actually sold 2,100 units. Following are the actual results from the period. Sales $58,500 Cost of goods sold $24,800 Gross margin $33,700 Salaries expense $6,000 Utilities expense $5,480 Rent expense $2,000 Misc expense $9.400 Net income $10.820 What is total gross margin for the planning budget? O $27,000 O $31,500 O Not enough information to calculate O $33,700 Question 2 A Co reported the below cost and revenue formulas. Sales $27Q Cost of goods sold $12Q Salaries expense $5,500 per month Utilities expense $125 plus $2.50Q Rent expense $2,000 per month Misc expense $500 plus $3.25Q They planned to sell 1,800 units and they actually sold 2,100 units. Following are the actual results from the period. Sales $58,500 Cost of goods sold $24,800 Gross margin $33,700 Salaries expense $6,000 Utilities expense $5,480 Rent expense $2,000 Misc expense $9.400 Net income $10,820 What is total cost of goods sold for the planning budget? O $25,200 $24,800 O $12 O $21,600 Question 3 The production budget reported the following total production in units for fiscal year 3. The company wants to maintaina desired ending raw material inventory in the current quarter equal to 10% of the next quarter's production. The only raw material used to produce a single unit is the 2 pounds of molding material. The material costs $1.20 per pound. The company began the first quarter of year 3 with 6,600 pounds in the beginning raw material inventory. Production (in units) Q1 33,000; Q2 40,000; Q3 32,500; Q4 35,550 What is the desired ending inventory for quarter 1? 3,250 6,600 4,000 8,000 A Co reported the below cost and revenue formulas. Sales $27Q Cost of goods sold $12Q Salaries expense $5,500 per month Utilities expense $125 plus $2.50Q Rent expense $2,000 per month Misc expense $500 plus $3.25Q They planned to sell 1,800 units and they actually sold 2,100 units. Following are the actual results from the period. Sales $58,500 Cost of goods sold $24,800 Gross margin $33,700 Salaries expense $6,000 Utilities expense $5,480 Rent expense $2,000 Misc expense $9.400 Net income $10.820 What is total gross margin for the planning budget? O $27,000 O $31,500 O Not enough information to calculate O $33,700 Question 2 A Co reported the below cost and revenue formulas. Sales $27Q Cost of goods sold $12Q Salaries expense $5,500 per month Utilities expense $125 plus $2.50Q Rent expense $2,000 per month Misc expense $500 plus $3.25Q They planned to sell 1,800 units and they actually sold 2,100 units. Following are the actual results from the period. Sales $58,500 Cost of goods sold $24,800 Gross margin $33,700 Salaries expense $6,000 Utilities expense $5,480 Rent expense $2,000 Misc expense $9.400 Net income $10,820 What is total cost of goods sold for the planning budget? O $25,200 $24,800 O $12 O $21,600 Question 3 The production budget reported the following total production in units for fiscal year 3. The company wants to maintaina desired ending raw material inventory in the current quarter equal to 10% of the next quarter's production. The only raw material used to produce a single unit is the 2 pounds of molding material. The material costs $1.20 per pound. The company began the first quarter of year 3 with 6,600 pounds in the beginning raw material inventory. Production (in units) Q1 33,000; Q2 40,000; Q3 32,500; Q4 35,550 What is the desired ending inventory for quarter 1? 3,250 6,600 4,000 8,000 A Co reported the below cost and revenue formulas. Sales $27Q Cost of goods sold $12Q Salaries expense $5,500 per month Utilities expense $125 plus $2.50Q Rent expense $2,000 per month Misc expense $500 plus $3.25Q They planned to sell 1,800 units and they actually sold 2,100 units. Following are the actual results from the period. Sales $58,500 Cost of goods sold $24,800 Gross margin $33,700 Salaries expense $6,000 Utilities expense $5,480 Rent expense $2,000 Misc expense $9.400 Net income $10.820 What is total gross margin for the planning budget? O $27,000 O $31,500 O Not enough information to calculate O $33,700 Question 2 A Co reported the below cost and revenue formulas. Sales $27Q Cost of goods sold $12Q Salaries expense $5,500 per month Utilities expense $125 plus $2.50Q Rent expense $2,000 per month Misc expense $500 plus $3.25Q They planned to sell 1,800 units and they actually sold 2,100 units. Following are the actual results from the period. Sales $58,500 Cost of goods sold $24,800 Gross margin $33,700 Salaries expense $6,000 Utilities expense $5,480 Rent expense $2,000 Misc expense $9.400 Net income $10,820 What is total cost of goods sold for the planning budget? O $25,200 $24,800 O $12 O $21,600 Question 3 The production budget reported the following total production in units for fiscal year 3. The company wants to maintaina desired ending raw material inventory in the current quarter equal to 10% of the next quarter's production. The only raw material used to produce a single unit is the 2 pounds of molding material. The material costs $1.20 per pound. The company began the first quarter of year 3 with 6,600 pounds in the beginning raw material inventory. Production (in units) Q1 33,000; Q2 40,000; Q3 32,500; Q4 35,550 What is the desired ending inventory for quarter 1? 3,250 6,600 4,000 8,000 A Co reported the below cost and revenue formulas. Sales $27Q Cost of goods sold $12Q Salaries expense $5,500 per month Utilities expense $125 plus $2.50Q Rent expense $2,000 per month Misc expense $500 plus $3.25Q They planned to sell 1,800 units and they actually sold 2,100 units. Following are the actual results from the period. Sales $58,500 Cost of goods sold $24,800 Gross margin $33,700 Salaries expense $6,000 Utilities expense $5,480 Rent expense $2,000 Misc expense $9.400 Net income $10.820 What is total gross margin for the planning budget? O $27,000 O $31,500 O Not enough information to calculate O $33,700 Question 2 A Co reported the below cost and revenue formulas. Sales $27Q Cost of goods sold $12Q Salaries expense $5,500 per month Utilities expense $125 plus $2.50Q Rent expense $2,000 per month Misc expense $500 plus $3.25Q They planned to sell 1,800 units and they actually sold 2,100 units. Following are the actual results from the period. Sales $58,500 Cost of goods sold $24,800 Gross margin $33,700 Salaries expense $6,000 Utilities expense $5,480 Rent expense $2,000 Misc expense $9.400 Net income $10,820 What is total cost of goods sold for the planning budget? O $25,200 $24,800 O $12 O $21,600 Question 3 The production budget reported the following total production in units for fiscal year 3. The company wants to maintaina desired ending raw material inventory in the current quarter equal to 10% of the next quarter's production. The only raw material used to produce a single unit is the 2 pounds of molding material. The material costs $1.20 per pound. The company began the first quarter of year 3 with 6,600 pounds in the beginning raw material inventory. Production (in units) Q1 33,000; Q2 40,000; Q3 32,500; Q4 35,550 What is the desired ending inventory for quarter 1? 3,250 6,600 4,000 8,000 A Co reported the below cost and revenue formulas. Sales $27Q Cost of goods sold $12Q Salaries expense $5,500 per month Utilities expense $125 plus $2.50Q Rent expense $2,000 per month Misc expense $500 plus $3.25Q They planned to sell 1,800 units and they actually sold 2,100 units. Following are the actual results from the period. Sales $58,500 Cost of goods sold $24,800 Gross margin $33,700 Salaries expense $6,000 Utilities expense $5,480 Rent expense $2,000 Misc expense $9.400 Net income $10.820 What is total gross margin for the planning budget? O $27,000 O $31,500 O Not enough information to calculate O $33,700 Question 2 A Co reported the below cost and revenue formulas. Sales $27Q Cost of goods sold $12Q Salaries expense $5,500 per month Utilities expense $125 plus $2.50Q Rent expense $2,000 per month Misc expense $500 plus $3.25Q They planned to sell 1,800 units and they actually sold 2,100 units. Following are the actual results from the period. Sales $58,500 Cost of goods sold $24,800 Gross margin $33,700 Salaries expense $6,000 Utilities expense $5,480 Rent expense $2,000 Misc expense $9.400 Net income $10,820 What is total cost of goods sold for the planning budget? O $25,200 $24,800 O $12 O $21,600 Question 3 The production budget reported the following total production in units for fiscal year 3. The company wants to maintaina desired ending raw material inventory in the current quarter equal to 10% of the next quarter's production. The only raw material used to produce a single unit is the 2 pounds of molding material. The material costs $1.20 per pound. The company began the first quarter of year 3 with 6,600 pounds in the beginning raw material inventory. Production (in units) Q1 33,000; Q2 40,000; Q3 32,500; Q4 35,550 What is the desired ending inventory for quarter 1? 3,250 6,600 4,000 8,000 A Co reported the below cost and revenue formulas. Sales $27Q Cost of goods sold $12Q Salaries expense $5,500 per month Utilities expense $125 plus $2.50Q Rent expense $2,000 per month Misc expense $500 plus $3.25Q They planned to sell 1,800 units and they actually sold 2,100 units. Following are the actual results from the period. Sales $58,500 Cost of goods sold $24,800 Gross margin $33,700 Salaries expense $6,000 Utilities expense $5,480 Rent expense $2,000 Misc expense $9.400 Net income $10.820 What is total gross margin for the planning budget? O $27,000 O $31,500 O Not enough information to calculate O $33,700 Question 2 A Co reported the below cost and revenue formulas. Sales $27Q Cost of goods sold $12Q Salaries expense $5,500 per month Utilities expense $125 plus $2.50Q Rent expense $2,000 per month Misc expense $500 plus $3.25Q They planned to sell 1,800 units and they actually sold 2,100 units. Following are the actual results from the period. Sales $58,500 Cost of goods sold $24,800 Gross margin $33,700 Salaries expense $6,000 Utilities expense $5,480 Rent expense $2,000 Misc expense $9.400 Net income $10,820 What is total cost of goods sold for the planning budget? O $25,200 $24,800 O $12 O $21,600 Question 3 The production budget reported the following total production in units for fiscal year 3. The company wants to maintaina desired ending raw material inventory in the current quarter equal to 10% of the next quarter's production. The only raw material used to produce a single unit is the 2 pounds of molding material. The material costs $1.20 per pound. The company began the first quarter of year 3 with 6,600 pounds in the beginning raw material inventory. Production (in units) Q1 33,000; Q2 40,000; Q3 32,500; Q4 35,550 What is the desired ending inventory for quarter 1? 3,250 6,600 4,000 8,000 A Co reported the below cost and revenue formulas. Sales $27Q Cost of goods sold $12Q Salaries expense $5,500 per month Utilities expense $125 plus $2.50Q Rent expense $2,000 per month Misc expense $500 plus $3.25Q They planned to sell 1,800 units and they actually sold 2,100 units. Following are the actual results from the period. Sales $58,500 Cost of goods sold $24,800 Gross margin $33,700 Salaries expense $6,000 Utilities expense $5,480 Rent expense $2,000 Misc expense $9.400 Net income $10.820 What is total gross margin for the planning budget? O $27,000 O $31,500 O Not enough information to calculate O $33,700 Question 2 A Co reported the below cost and revenue formulas. Sales $27Q Cost of goods sold $12Q Salaries expense $5,500 per month Utilities expense $125 plus $2.50Q Rent expense $2,000 per month Misc expense $500 plus $3.25Q They planned to sell 1,800 units and they actually sold 2,100 units. Following are the actual results from the period. Sales $58,500 Cost of goods sold $24,800 Gross margin $33,700 Salaries expense $6,000 Utilities expense $5,480 Rent expense $2,000 Misc expense $9.400 Net income $10,820 What is total cost of goods sold for the planning budget? O $25,200 $24,800 O $12 O $21,600 Question 3 The production budget reported the following total production in units for fiscal year 3. The company wants to maintaina desired ending raw material inventory in the current quarter equal to 10% of the next quarter's production. The only raw material used to produce a single unit is the 2 pounds of molding material. The material costs $1.20 per pound. The company began the first quarter of year 3 with 6,600 pounds in the beginning raw material inventory. Production (in units) Q1 33,000; Q2 40,000; Q3 32,500; Q4 35,550 What is the desired ending inventory for quarter 1? 3,250 6,600 4,000 8,000