Question
4. Foxburg Company has the following information: Work-in-Process Finished Goods Materials Beginning inventory $ 300 $ 400 $ 500 Ending inventory $ 700 $ 900
4.Foxburg Company has the following information:
| Work-in-Process |
| Finished Goods |
| Materials | ||||||
Beginning inventory | $ | 300 |
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| $ | 400 |
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| $ | 500 |
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Ending inventory | $ | 700 |
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| $ | 900 |
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| $ | 1,500 |
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Purchases of materials (net) | $ | 7,700 |
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Cost of Goods Sold | $ | 15,600 |
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Manufacturing overhead | $ | 4,300 |
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What was the cost of goods available for sale for the period?
a.) $16,800
b.) $16,500
c.) $16,100
d.) $15,100
11.Vegas Company has the following unit costs:
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Variable manufacturing overhead | $ | 25 |
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Direct materials |
| 20 |
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Direct labor |
| 19 |
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Fixed manufacturing overhead |
| 12 |
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Variable marketing and administrative |
| 7 |
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Vegas produced and sold 10,000 units. If the product sells for $100, what is the operating profit using a contribution margin income statement?
a.) $170,000
b.) $240,000
c.) $290,000
d.) $360,000
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