Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Saved A manufacturer sold 6,960 units of its product at the price of $40 last year. The variable cost petunt was $24 There operating leverage

image text in transcribed
image text in transcribed
image text in transcribed
Saved A manufacturer sold 6,960 units of its product at the price of $40 last year. The variable cost petunt was $24 There operating leverage was 4. What was the margin of safety (in $) for this company last year? (All answers are whole numbers - unless specified otherwise. You should NOT include the Sra.com 1000 for one thousand. Negative numbers should be added with a minus sign, eg 1000 for deres Margin of Safety = $ 53:36 A company provided the following data for its first year of operations ended on June 30. Figures are all in the company closes any under-or over-applied manufacturing overhead costs to cost of goods sold at the end of the Selling and administrative expenses Manufacturing overhead applied to Work-in-process Actual manufacturing overhead cost Cost of goods available for sale during the year Finished goods, ending balance Net operating income (after adjusting COGS) 261 337 358 730 56 12 What was the total sales for the year? (All answers are whole numbers -- unless specified otherwise. You should NOT include the 1000 for one thousand. Negative numbers should be added with a minus signe...000 fer Sales = $ Saved A company had the following operations: Inventories beginning balance Raw materials (all direct) ending balance $34,000 $37,500 Work in process $22,500 $15,000 Finished goods $67,500 $88.000 Additional information: Raw materials purchased $ 105,000 Direct manufacturing labor payroll (DL cost) $ 75,000 $ 12/DLH Direct manufacturing wage rate per hour $ 16/DLH Predetermined overhead rate per direct labor hour How much was the Raleigh's unadjusted cost of goods sold for the period? -47 (All answers are whole numbers -- unless specified otherwise. You should NOT include the signar 1000 for one thousand. Negative numbers should be added with a minus sign. eg. 1000 for a decades Cost of goods sold (unadjusted) - $

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Contemporary Auditing

Authors: Michael C Knapp

12th Edition

357515404, 978-0357515402

More Books

Students also viewed these Accounting questions

Question

What are you curious about regarding Sooki?

Answered: 1 week ago

Question

Solve the following 1,4 3 2TT 5x- 1+ (15 x) dx 5X

Answered: 1 week ago