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Please help me for my homework! Be careful when solving problems. I really need the right answers 1- Suppose that the following table shows the
Please help me for my homework! Be careful when solving problems. I really need the right answers
1- Suppose that the following table shows the financial data of a manufacturing company at the beginning of the period, during the period and at the end of the period. What is the total cost of production? Period Within Beginning 30,000.00 Ending 20,000.00 390,000.00 208,000.00 114,000.00 78,000.00 20,000.00 800,000.00 Raw materials Raw material purchases (paid in cash) Direct labor costs (paid in cash) Indirect labor costs (paid in cash) Factory/machinery depreciation Rent expense - headquarters (paid in cash) Sales revenue (received in cash) Work-in process Finished goods a) 800.000 $ b) 750.000 $ c) 700.000 $ d) 850.000 $ e) Other: 40,000.00 70,000.00 90,000.00 10,000.00 2- Refer to Question 1. What is the gross profit? a) 810.000 $ b) -10.000 $ c) -30.000 S d) 700.000 $ e) Other: 3- Refer to Question 1. How much should we credit to factory overhead applied account during the period? a) 192.000 $ b) 114.000 $ c) 212.000 $ d) 208.000 $ e) Other: 4- Refer to Question 1. What is the inventory turnover ratio as of the end of the period? (Inventory turnover ratio is calculated as cost of goods sold / average inventory). a) 6,75 b) 6,67 c) 6,44 d) 6,23 e) OtherStep by Step Solution
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