|350‚000 | | All materials are added at the start of production and the inspection point is at the end of the process. 1. Refer to Chapman Corporation. What are equivalent units of production for material using FIFO? |a. |80‚000
Premium Cost accounting Costs Cost
22. a. Sales revenue: (167‚000 + 49‚400) – 50‚600 + 47‚120 = 212‚920 b. Purchase of goods: 146‚300 – 26‚160 + 33‚080 = 153‚280 c. COGS: 36‚600 + 153‚280 – 38‚920 = 150‚960 d. Gross margin: 212‚920 – 150‚960 = 61‚960 Question 23. FIFO: LIFO: March 300 units @ $13 = $ 3‚900 March 300 units @ $13 = $ 3‚900 June 300 “ @ $13 = 3‚900 June 600 “ @ $ 9 = 5‚400 300 “ @ $ 9 = 2‚700 October 500 “ @ $11 = 5‚500 October 400
Premium Generally Accepted Accounting Principles Accounts receivable Balance sheet
Completing the Accounting Cycle The Accounting Cycle Process by which companies produce their financial statements Use of a work sheet summarizes needed data in one place 2 Accounting Cycle Journalize Transaction During the period Post to Accounts Adjust Accounts End of the period Prepare Financial Statements Close Accounts 3 Work Sheet Internal summary device NOT: A journal A ledger A financial statement Computerized spreadsheets work well 4 Work Sheet Steps Enter account titles and
Premium Generally Accepted Accounting Principles Balance sheet Revenue
usage= (4*5) + 20 +1 = 41 units. FIFO: Cache power usage= (4*5) + 20 = 40 units. Random Replacement Policy: Replacement array is not accessed. Cache power usage= (4*5) + 20= 40units. b) Cache Read Miss LRU: Cache power usage= (4*5) + 4 = 24units FIFO: Cache power usage= (4*5) + 1= 21units Random: Cache power usage= (4*5) = 20 units c) LRU: Cache power usage= (4*5) + 26 = 46 units. FIFO: Cache power usage= (4*5) + 25
Premium Central processing unit Hazard
InvUnit 8 Overview Inventories - Part 1 This unit covers Chapter 6 which includes an overview of the controls needed for inventories‚ explanation of the three inventory cost flow assumptions (FIFO‚ LIFO and Average Cost methods) and using these inventory costing methods under a perpetual inventory system Chapter 6: "Inventories" Chapter 6: "Inventories" describes how companies maintain control over their inventories and account for the inventory costs as inventories are purchased and sold.
Premium Inventory Balance sheet Welfare
PRINCIPLES OF ACCOUNTING I ACCT220 MIDTERM EXAMINATION REVIEW (Chapters 1 thru 6) Chapter 1 1. The basic accounting equation may be expressed as a. Assets = Equities. b. Assets – Liabilities = Owner’s Equity. c. Assets = Liabilities + Owner’s Equity. d. all of these. 2. Owner’s equity is increased by a. drawings. b. revenues. c. expenses. d. liabilities. 3. Collection of a $500 Accounts Receivable a. increases
Premium
Sauder School of Business COMM 293 Midterm Examination Question Booklet Answer all questions in the other (answer) booklet‚ this booklet WILL NOT BE REVIEWED FOR GRADING PURPOSES Time: 110 minutes Total Marks: 100 No programmable calculators are permitted. Please show all calculations in an orderly and clear format for part marks. Time management is crucial. Be sure to attempt each question. No questions will be permitted during this examination. If you need to make an assumption‚ state it and
Premium Generally Accepted Accounting Principles Inventory Balance sheet
with a similar setting where the last one put in would be the first one sold. 4) The automobile dealer would not be wrong to use LIFO ‚ but for tax benefits the dealer should consider FIFO. Whereas the hardware dealer shows prices as if he was using LIFO. Therefore we cannot consider FIFO in this case. 5) A) Valid. B) Valid. C) Valid in some cases. The amount of inventory cannot increase/decrease and taxes needs to be unchanged. 6) Justification for applying
Premium Inventory Revenue
(all cash) 300 units @ $170 4. Paid $15‚000 cash for operating expenses. 5. Paid cash for income tax at the rate of 30 percent of income before taxes. Required A. Compute the cost of goods sold and ending inventory‚ assuming (1) FIFO cost flow‚ (2) LIFO cost flow‚ and (3) weighted-average cost flow. 1. 2. 3. 4. 5. B. Use a vertical model to
Premium Inventory Balance sheet Income statement
Mariners’ Polytechnic Colleges Foundation Rawis‚ Legazpi City Practicum Report Submitted by: Angeli A. Abadeza BSHRM 4B3 Submitted to: Florivel D. Villacorta Practicum Coordinator TABLE OF CONTENT • Acknowledgement • Introduction • About Establishment a. History b. Rules and Regulation c. Standard Procedure d. Forms Used • Duties and Responsibilities • Assigned Tasks • Documentation • Accomplishments • Observation
Premium Hamburger Tomato sauce Ketchup