HST Ltd manufactures French fries from Russet potatoes. These are sold to local restaurants. The company manufactures French fries using a single production line that runs eight hours per day. The potatoes are purchased and stored in suitable warehouses from which they are distributed on a first-in first-out (FFO) basis. The production of French fries involves a number of processes. They are: cleaning‚ sorting‚ peeling‚ manual inspection‚ cutting‚ machine inspection‚ blanching‚ drying‚ frying‚ draining
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accountants must follow specific external reporting rules (i.e.‚ generally accepted accounting principles) when their companies provide outside parties with cost information about the amount of ending inventory on the balance sheet and the cost of goods sold on the income statement. In order to calculate these two amounts‚ managerial accountants must subdivide costs into functional categories: production and period (i.e.‚ nonproduction). • Product (manufacturing) costs are those costs‚ both direct
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production of any commodity is uindertaken in anticipation of demand. The firm produces in advance and keeps the product ready. It is displayed and advertised so as to attract buyers. If the quantity sold is less than the quantity produced‚ the firm will go into a loss. On the other hand‚ if the quantity produced is less than what is demanded‚ the producer misses the chance of producing more‚ selling more and earning more. Hence‚ every firm makes an attempt to forecast demand and produce accordingly. If
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administrative expenses were 50% fixed. Two hundred mowers were sold at an average price of $ 750 per unit. All mowers are purchased from Toro and John Deere. Required: a) Prepare an income statement for the month using the contribution approach. b) What is the contribution margin per unit? Gross margin – 60‚000 Oprt income _ 20‚000 S/ADM exp = 50% Selling price= $ 750 per unit. a) Unit sold per unit total 200
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people‚ our shareholders‚ and the communities in which we live and work to prosper.” . P&G PRODUCT: Downy is a brand name of fabric softener produced by Procter & Gamble and sold in the United States. It entered the U.S. test market in August 1960 and went nationwide in December 1961. It was also sold in Philippines‚ Malaysia‚ Indonesia‚ Singapore‚ Thailand‚ Vietnam‚ Egypt and Latin America. Lenor is
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a French chemist‚ Eugène Schueller invented a non-toxic hair dyes and sold it to hairdressers‚ in the same year he founded L’Oreal company focus on research and innovation in product of beauty. In 1933‚ the first soap free shampoo was produced. In 1960‚ hairspray was produced. In 1963‚ L’Oreal listed on the stock change and same year first foam bath was produced. In 1980‚ the first perm solutions that protect hair were produced. After 1984‚ L’Oreal becomes number one in the beauty industry. In 2002
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000 113.800 Budgeted Sales ($) We have the budgeted Units to be sold for each quarter: 2.400; 2.600; 2.800; 3.000 and Selling price in each quarter: $10; $10; $11; $11‚ then Budgeted Sales equal (Units sold) x (Unit Selling Price). The average Unit selling price = (Total Budgeted Sales) / (Total Units) Truong Cong Sang – SB90199 Page 1 Individual Assignment 2. Production Budget In this budget‚ we find the Units will be produced in next each quarter. From that‚ we can contribute the raw material
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(buyers and sellers of different goods)‚ and even sectors (agriculture‚ manufacturing‚ services). In macroeconomics‚ these distinctions are not made. Let us focus on markets‚ for example. In an economy‚ there are millions of goods and services produced‚ thousands of different types of labor‚ and a large number of (financial) assets people can hold. So‚ there are millions of markets for goods‚ thousands of labor markets‚ and many markets for assets. Microeconomics would study these markets one
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game‚ which would be used against Trent and Xavier in court as a defense. 4. Suppose that Trent and Xavier discover that Brad took the idea of Hallowed and sold it to the company that produced Halo 2. Which type of intellectual property issue does this raise? If Brad took the idea of Hallowed and sold it to the company that produced Halo 2‚ then Brad would be raising an issue of intellectual property known as a trade secret.
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material used in production Cost of good manufactured (finished) Work in process (WIP) beginning inventory Raw materials used in production Direct labor Manufacturing overhead (MOH) (WIP ending inventory) = COG manufactured Cost of good sold (COGS) Finished goods beginning inventory COG manufactured (FG ending inventory) =COGS Traditional income statement Sales (COGS) =Gross Margin (Administrative and selling expenses) =Net income Full costing Allocation table We
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