Question
In: Accounting
Old Tyme Soda produces one flavor of a popular local soft drink. It had no work-in-process...
Old Tyme Soda produces one flavor of a popular local soft drink. It had no work-in-process on October 31 in its only inventory account. During November, Old Tyme started 10,300 barrels. Work-in-process on November 30 is 1,350 barrels. The production supervisor estimates that the ending work-in-process inventory is 20 percent complete. An examination of Old Tyme’s accounting records shows direct material costs of $14,980 and conversion costs of $21,900 for November. All production is sold as it is produced. Required: a. Compute cost of goods sold for November. (Do not round intermediate calculations.) b. What is the value of work-in-process inventory on November 30? (Do not round intermediate calculations.)
Solutions
ekkarill92 answered 7 months agoRelated Solutions
Old Tyme Soda produces one flavor of a popular local soft drink. It had no work-in-process...
Old Tyme Soda produces one flavor of a popular local soft drink. It
had no work-in-process on October 31 in its only inventory account.
During November, Old Tyme started 11,400 barrels. Work-in-process
on November 30 is 1,900 barrels. The production supervisor
estimates that the ending work-in-process inventory is 40 percent
complete. An examination of Old Tyme’s accounting records shows
direct material costs of $24,413 and conversion costs of $27,400
for November. All production is sold as it is produced.
...
Old Tyme Soda produces one flavor of a popular local soft drink. It had no work-in-process...
Old Tyme Soda produces one flavor of a popular local soft drink.
It had no work-in-process on October 31 in its only inventory
account. During November, Old Tyme started 10,400 barrels.
Work-in-process on November 30 is 1,400 barrels. The production
supervisor estimates that the ending work-in-process inventory is
30 percent complete. An examination of Old Tyme’s accounting
records shows direct material costs of $18,106 and conversion costs
of $22,400 for November. All production is sold as it is
produced.
...
Old Tyme Soda produces one flavor of a popular local soft drink. It had no work-in-process...
Old Tyme Soda produces one flavor of a popular local soft drink.
It had no work-in-process on October 31 in its only inventory
account. During November, Old Tyme started 10,400 barrels.
Work-in-process on November 30 is 1,400 barrels. The production
supervisor estimates that the ending work-in-process inventory is
30 percent complete. An examination of Old Tyme’s accounting
records shows direct material costs of $18,106 and conversion costs
of $22,400 for November. All production is sold as it is produced.
Required:...
You are the manager of a local factory that produces plastic bottles for soft drink manufacturers....
You are the manager of a local factory that produces plastic
bottles for soft drink manufacturers. Your assistant presents the
following data to you that he’s researched:
Estimated life of assembly line: 4 years Initial investment
cost: $800,000
Estimated salvage value: none
Estimated Cash Flow Analysis
Year Expected Cash Flow
1 $350,000
2 240,000
3 220,000
4 105,000
$915,000
a) Your assistant thinks you should buy the new
assembly line based on the information he has gathered. You are not...
1. You are the manager of a local factory that produces plastic bottles for soft drink...
1. You are the manager of a local factory that produces plastic
bottles for soft drink manufacturers. Your assistant comes to you
with exciting news about a new assembly line for the company. He
presents the following data to you that he’s researched:
Estimated life of assembly
line:
3 years
Initial investment
cost:
$500,000
Estimated salvage value:
none
Estimated Cash Flow Analysis
Year
Expected Cash Flow
1
$250,000
...
You are the manager of a local factory that produces plastic bottles for soft drink manufacturers....
You are the manager of a local factory that produces plastic
bottles for soft drink manufacturers. Your assistant comes to you
with exciting news about a new assembly line for the company. He
presents the following data to you that he’s researched: Estimated
life of assembly line: 4 years Initial investment cost: $800,000
Estimated salvage value: none Estimated Cash Flow Analysis Year
Expected Cash Flow 1 $450,000 2 240,000 3 150,000 4 60,000 a) If
the current interest rate is...
You are the manager of a local factory that produces plastic bottles for soft drink manufacturers....
You are the manager of a local factory that produces plastic
bottles for soft drink manufacturers. Your colleague brings an
assembly line project to a meeting with the following
data:
Estimated life of assembly
line:
5 years
Initial investment
cost:
$740,000
Estimated salvage
value:
none
Current interest
rates:
15 percent
Estimated Cash Flow Analysis
Year
Expected Cash Flow
1
$360,000
2
240,000
3
100,000
4
25,000
5 ...
As a special promotion for its 20-ounce bottles of soda, a soft drink company printed a...
As a special promotion for its 20-ounce bottles of soda, a soft
drink company printed a message on the inside of each cap. Some of
the caps said, “Please try again,” while others said, “You’re a
winner!” The company advertised the promotion with the slogan “1 in
6 wins a prize.” Suppose the company is telling the truth and that
every 20-ounce bottle of soda it fills has a 1-in-6 chance of being
a winner. Seven friends each buy one...
A marketing study was conducted to assess the new bottle design of a popular soft drink....
A marketing study was conducted to assess the new bottle design
of a popular soft drink. Sixty randomly selected shoppers
participated and rated the new design. The data are given
below:
34 33 33 29 26 33 28 25 32 33
32 25 27 33 22 27 32 33 32 29
24 30 20 34 31 32 30 35 33 31
32 28 30 31 31 33 29 27 34 31
31 28 33 31 32 28 26 29 32...
Soda drinks (“pop) are fairly popular with Saskatchewan residents. People like to drink it with meals,...
Soda drinks (“pop) are fairly popular with Saskatchewan
residents. People like to drink it with meals, as a refreshing
drink on a hot day, as mix with alcoholic beverages, etc. The
following describes recent changes in the Saskatchewan soda
market:
Consumption decreased from 30 million liters per month to 27
million liters per month; and
The average price of soda pop increased from $2.00 per liter to
$3.00 per liter.
In a recent report, the Canadian Beverage Association (CBA)
attributes...
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