B B C D E F G H J 1 2 3 The following events took place for Bridger Bikes Inc. during July 2006, the first month of operations, as a producer of road bikes: 4 5 6 6 a. 7 b. C. 8 9 d. 10 e. Purchased $340,000 of materials. Used $329,000 of direct materials in production. Incurred $160,000 of direct labor wages. Applied factory overhead at a rate of 80% of direct labor cost. Transferred $590,000 of work in process to finished goods. Sold goods with a cost of $550,000. Sold the goods mentioned in (f) above for $918,000 Incurred $132,500 of selling expenses. Incurred $80,000 of administrative expenses. f. 11 12 13 8 h. i. 14 15 16 17 18 a. Prepare the July income statement for Bridger Bikes Inc. Assume that Bridger Bikes uses the perpetual inventory method. Exercise 5-1 Exercise 52 Exercise 5.3 Exercise 5-4 Exercise 5.5 Exercise 5.6 Ready Week 5 Assignment - Bacel Formas Data Review View Tell me what you want to do - AA General Insert Page Layout x cit be Copy BIU-- Format Printer Cod Wrap Test Merge Center Algemene Nom Conditional format as Neur Formatting Table $ - . 120 B C D G H E F 1 2 Use the information provided at right to determine ratios for each of the measures 3 for 2008 below, rounding to one decimal place. 4 6 1 un $765,000.00 4.8 7 N 8 11.0 9 10 11 12 13 Working Capital Current Ratio 3 Quick ratio Accounts Receivable Turnover 5 Number of days' sales in receivables 6 Inventory turnover 7 Number of days' sales in inventory 8 Ratio of fixed assets to long-term liabilities Ratio of liabilities to stockholders' equity 10 Number of times interest charges earned 11 Number of times preferred dividends earned 12 Ratio of net sales to assets 13 Rate earned on total assets Exercise 5-1 Exercise 5-4 131.0 14 5.0 5 6 7 8 21.8% Exercise 52 Exercise 5-3 Exercise 5-5 Exercise 5-6 dy