The following data are available for Remington Advisors for the month just ended: Gross margin.................................... $ 810,000

Question:

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

Find the following by completing a cost of goods sold statement:

a. Marketing and administrative costs.

b. Cost of services sold.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Fundamentals of Cost Accounting

ISBN: 978-1259565403

5th edition

Authors: William Lanen, Shannon Anderson, Michael Maher

See More Books

Question Posted: Oct 19, 2016 09:54 AM

See More Questions

The following data are available for Haul-It-Away Truckers: 1. Compute the predetermined overhead rate for each of the two years, if based on (a) Direct labor hours, (b) Number of moving jobs, and...
The following data are available for 2012, regarding the inventory of two companies: Compute inventory turnover and number of days sales in inventory for both companies. Which company is handling its...
The following data are available for two divisions of Solomons Company: The cost of capital for the company is 10 percent. Ignore taxes. Required a. If Solomons measures performance using ROI, which...
? Fisheries Bhd is a small listed company involves in fishing and selling fish to the public via retail outlets. The company owns a building that was acquired in early September 2014 for RM1,200,000,...
Tanzaniqe, Inc., sells $200,000 of its accounts receivable to factors at a 5 percent discount. The firms average collection period is 90 days. a. What is the dollar cost of the factoring service? b....
On January 1, 2020, Bridgeport Company contracts to lease equipment for 5 years, agreeing to make a payment of $150,642 at the beginning of each year, starting January 1, 2020. The leased equipment...
Do you think you use cultural intelligence in your interactions with people at school or at work? If so, how and where?(pp. 470472)
Determining the Effects of Credit Sales, Sales Discounts, Credit Card Sales, and Sales Returns and Allowances on Income Statement Categories Brazen Shoe Company records Sales Returns and Allowances,...
b ) Assignment Question 2 , P 8 - 5 ( similar to ) Part 1 of 3 Score: 5 % , 4 or 2 0 poin Points: 0 of 1 0 6 / 0 5 / 2 4 5 : 4 6 PM Jessalyn Huckins 3 : 4 6 PN PlayerHomework.aspx?homeworkld = 6 7 2...
An analysis of the annual financial statements of OConnell Corporation reveals the following. a. The company had a $5 million loss from a fire that destroyed an uninsured factory building. b....
The following balances are from the accounts of Tappan Parts: 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 Find the...
The following balances are from the accounts of Crabtree Machining Company: Direct materials purchased during the year amount to $717,600, and the cost of goods sold for the year was $2,606,880....
Construct another (discrete) prior distribution for the proportion of brown or orange M& Ms, . Use the same values of given in Table 11.8 but use different probabilities, p(), so that the mean is...
the assessment include developing gantt chart, work breakdown structure and and all task 3 are related to its respective task 2. all the instructions are given in the assignment itself. Assessment...
Mens heights are normally distributed with mean 68.6in. and standard deviation 2.8in. Air Force Pilots The U.S. Air Force required that pilots have heights between 64 in. and 77 in. Find the...
Swain Athletic Gear (SAG) operates six retail outlets in a large Midwest city. One is in the center of the city on Cornwall Street and the others are scattered around the perimeter of the city....
ACC1810 - PRINCIPLES OF FINANCIAL ACCOUNTING Project 11: Chapter 11 - Stockholders' Equity Part B: Financial Statements The accounts of Rehearsal Corporation are listed along with their adjusted...
Match the term to the description. Outcome evaluation Focuses on the accomplishments and impact of a service, program, or policy and its effectiveness in attaining its outcomes set prior to...
For the conditions in the previous exercise, describe a good strategy for use of a vapor diffusion retarder. Data from in previous exercise A building has indoor air conditions of 70F dry bulb...
If there is an unrealized holding gain on available-for-sale investments, it is reported as?
A manager tells you that her company's cost accounting system divides overhead into two pools: (1) inspect material and (2) assemble product. The inspect material pool is allocated on the basis of...
Munoz Sporting Equipment manufactures baseball bats and tennis rackets. Department B produces the baseball bats, and Department T produces the tennis rackets. Munoz currently uses plantwide...
The Personnel Department at Drumm Corporation is centralized and provides services to the two operating units: Illinois and Ohio. The Illinois unit is the original unit of Drumm and is well...
A first-time shareholder has approached you requesting some advice. The shareholder has received the company's annual report and noticed the following statement in the summary of significant...
View Policies Current Attempt in Progress REI sells snowboards. Assume the following information relates to REI's purchases of snowboards during September. During the same month, 1 0 2 snowboards...
*Please explain how you got the answers* The following costs result from the production and sale of 1,000 drum sets manufactured by Tight Drums Company for the year ended December 31, 2019. The drum...

The following data are available for Remington Advisors for the month just ended: Gross margin.................................... $ 810,000

Question:

Step by Step Answer:

Sales revenue 1700000 Given Cost of services ...View the full answer

Fundamentals of Cost Accounting

Students also viewed these Cost Accounting questions