{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-06-28T06:46:33-04:00", "answer_date": "2024-06-28 06:46:33", "is_docs_available": null, "is_excel_available": null, "is_pdf_available": null, "count_file_available": 0, "main_page": "student_question_view", "question_id": "4255277", "url": "\/study-help\/questions\/question-1the-following-balances-are-from-the-accounts-of-tappan-4255277", "question_creation_date_js": "2024-06-28T06:46:33-04:00", "question_creation_date": "Jun 28, 2024 06:46 AM", "meta_title": "[Solved] Question 1)The following balances are fro | SolutionInn", "meta_description": "Answer of - Question 1)The following balances are from the accounts of Tappan Parts: January 1 (Beginning) December 31 (Ending) Di | SolutionInn", "meta_keywords": "question,1,balances,accounts,tappan,parts,january,beginning,december,31,ending,direct", "question_title_h1": "Question 1)The following balances are from the accounts of Tappan Parts: January 1 (Beginning) December 31 (Ending) Direct materials inventory $ 962,000 $ 884,000 Work-in-process", "question_title": "Question 1)The following balances are from the accounts of Tappan Parts: January", "question_title_for_js_snippet": "Question 1)The following balances are from the accounts of Tappan Parts January 1 (Beginning) December 31 (Ending) Direct materials inventory $ 962,000 $ 884,000 Work in process inventory 1,354,000 1,430,000 Finished goods inventory 312,000 364,000 Direct materials used during the year amount to $1,196,000 and the cost of goods sold for the year was $1,378,000 Required Prepare a cost of goods sold statement Question 2 The following data are available for Remington Advisors for the month just ended Gross margin $ 810,000 Operating profit 305,000 Revenues 1,700,000 Required a Find the marketing and administrative costs b Find the cost of services sold ", "question_description": "

Question 1)The following balances are from the accounts of Tappan Parts:<\/p>

<\/p>
<\/td> January 1 (Beginning)<\/td> December 31 (Ending)<\/td> <\/tr>
Direct materials inventory<\/td> $<\/td> 962,000<\/td> <\/td> $<\/td> 884,000<\/td> <\/td> <\/tr>
Work-in-process inventory<\/td> <\/td> 1,354,000<\/td> <\/td> <\/td> 1,430,000<\/td> <\/td> <\/tr>
Finished goods inventory<\/td> <\/td> 312,000<\/td> <\/td> <\/td> 364,000<\/td> <\/td> <\/tr>

<\/p><\/td><\/tr> <\/tbody><\/table>

Direct materials used during the year amount to $1,196,000 and the cost of goods sold for the year was $1,378,000. <\/p>

Required:<\/p>

Prepare a cost of goods sold statement.<\/p>

<\/p>

<\/p>

Question 2:<\/p>

The following data are available for Remington Advisors for the month just ended: <\/p>
<\/td> <\/td> <\/td> <\/td> <\/tr>
Gross margin<\/td> $<\/td> 810,000<\/td> <\/td> <\/tr>
Operating profit<\/td> <\/td> 305,000<\/td> <\/td> <\/tr>
Revenues<\/td> <\/td> 1,700,000<\/td> <\/td> <\/tr>
<\/td><\/tr> <\/tbody><\/table>

<\/p>

Required:<\/p>

a. Find the marketing and administrative costs.<\/p>

b. Find the cost of services sold.<\/p>", "transcribed_text": "", "related_book": { "title": "Auditing Cases An Active Learning Approach", "isbn": "0130674842, 978-0130674845", "edition": "2nd Edition", "authors": "Mark S. Beasley, Frank A. Buckless, Steven M. Glover, Douglas F. Prawitt", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/64ed8a8041add_6938.jpg", "uri": "\/textbooks\/abnormal-psychology-clinical-perspectives-on-psychological-disorders-1st-edition-9781266566899", "see_more_uri": "" }, "free_related_book": { "isbn": "1796370738", "uri": "\/textbooks\/medical-marijuana-real-life-success-stories-1st-edition-978-1796370737-278890", "name": "Medical Marijuana Real Life Success Stories", "edition": "1st Edition" }, "question_posted": "2024-06-28 06:46:33", "see_more_questions_link": "\/study-help\/questions\/business-banking-2021-September-12", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/what-is-a-key-success-factor", "description": "What is a key success factor?", "stars": 3 }, { "url": "\/study-help\/psychology\/1-offer-individual-problems-as-well-as-group-problems-so-1984460", "description": "1. Offer individual problems as well as group problems, so that each student has the chance to practice.", "stars": 3 }, { "url": "\/plaintiff-a-swiss-corporation-entered-into-contracts-to-purchase-chicken", "description": "Plaintiff, a Swiss corporation, entered into contracts to purchase chicken from B.N.S. International Sales Corporation. Defendant was a New York corporation. The English language contracts called for...", "stars": 3 }, { "url": "\/study-help\/questions\/exercise-1919-algorithmic-lo-3-at-the-time-of-her-9862702", "description": "Exercise 19-19 (Algorithmic) (LO. 3) At the time of her death, Basu owned 80% of the stock of Crane Corporation. Over the past five years, Crane reported an average net profit of $280,000, and the...", "stars": 3 }, { "url": "\/study-help\/questions\/describe-the-purposes-of-a-compliancebased-assessment-view-instructor-posts-1092601", "description": "Describe the purposes of a compliance-based assessment. View Instructor posts", "stars": 3 }, { "url": "\/study-help\/questions\/the-diagram-shows-two-finite-solenoids-with-their-symmetry-axes-5322065", "description": "The diagram shows two finite solenoids with their symmetry axes aligned. The arrows indicate the current direction on the part of the solenoid above the page. VVVV 12. Draw the magnetic field for...", "stars": 3 }, { "url": "\/study-help\/questions\/i-have-all-the-financial-information-for-the-w2-but-4224931", "description": "Using funds obtained through taxes on certain businesses, Superfund a. reimburses polluters who correct environmental violations. Ob. all of the choices. O c. pays for the clean up of hazardous waste...", "stars": 3 }, { "url": "\/study-help\/questions\/on-february-28-2022-fda-approved-the-biological-drug-carvykti-1000073", "description": "On February 28, 2022, FDA approved the biological drug CARVYKTI (ciltacabtagene autoleucel) for the treatment of adult patients with relapsed or refractory multiple myeloma after four or more prior...", "stars": 3 }, { "url": "\/study-help\/questions\/what-is-the-equation-of-the-given-hyperbola-2-1000856", "description": "What is the equation of the given hyperbola? (2, 2) (-2, 2) (6, 2) (6, 1) X", "stars": 3 }, { "url": "\/study-help\/questions\/to-do-r-2-each-of-the-forces-here-forms-1024027", "description": "TO DO R 2. Each of the forces here forms a couple. Calculate the Torque (\"Moment\") from the couple. dl-distance between gorces GN GN Y=fall =8+103) N-(for 3) re Couple =3.2x103 NM 1+4+3=8' 20bb 20 lb...", "stars": 3 } ], "next_back_navigation": { "previous": "\/study-help\/questions\/suppose-that-headfirst-company-now-sells-both-bicycle-helmets-and-4255276", "next": "\/study-help\/questions\/on-january-1-2017-abbey-acquires-90-percent-of-benjamins-4255278" }, "breadcrumbs": [ { "name": "Study help", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers" }, { "name": "Business", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers\/business" }, { "name": "Accounting", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/business-accounting" }, { "name": "Question 1)The following balances are from the accounts of Tappan Parts: January", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/question-1the-following-balances-are-from-the-accounts-of-tappan-4255277" } ], "skill_details": { "skill_id": "9", "skill_name": "Accounting", "parent_id": "1" } }1" } }