Question
In: Accounting
Account Activity and Relationships Each case is independent. Solve for missing data in alphabetical order. (Hint:...
Account Activity and Relationships
Each case is independent. Solve for missing data in alphabetical order. (Hint: Refer to Exhibit 5.6, p. 168 and the WIP table, p. 176.)
| Case A | Case B | Case C | Case D | ||
|---|---|---|---|---|---|
| Sales | $170,000 | (b) Answer | 220,000 | (b) Answer | |
| Direct materials | 30,000 | 42,000 | (f) Answer | 42,000 | |
| Direct labor | 10,000 | (c) Answer | 40,000 | (c) Answer | |
| Total direct costs | (a) Answer | 64,000 | (e) Answer | 60,000 | |
| Conversion cost | (b) Answer | 52,000 | (g) Answer | (g) Answer | |
| Manufacturing overhead | 16,000 | (d) Answer | 20,000 | (f) Answer | |
| Current manufacturing costs | (c) Answer | (e) Answer | 190,000 | 158,000 | |
| Work in process, beginning | 14,000 | 20,000 | (d) Answer | 42,000 | |
| Work in process, ending | 10,000 | (f) Answer | 42,000 | (e) Answer | |
| Cost of goods manufactured | (d) Answer | 64,000 | (c) Answer | 164,000 | |
| Finished goods inventory, beginning | 18,000 | 16,000 | 14,000 | 24,000 | |
| Finished goods inventory, ending | 12,000 | (g) Answer | 16,000 | (d) Answer | |
| Cost of goods sold | (e) Answer | 70,000 | (b) Answer | 160,000 | |
| Gross profit | (f) Answer | (a) Answer | 36,000 | 30,000 | |
| Selling and administrative expenses | 40,000 | 30,000 | (a) Answer | (a) Answer | |
| Net income | (g) Answer | 44,000 | 24,000 | 12,000 |
Solutions
ekkarill92 answered 1 year agoRelated Solutions
Account Activity and Relationships Each case is independent. Solve for missing data in alphabetical order. Case...
Account Activity and Relationships
Each case is independent. Solve for missing data in alphabetical
order.
Case A
Case B
Case C
Case D
Sales
$255,000
(b) Answer
330,000
(b) Answer
Direct materials
45,000
63,000
(f) Answer
63,000
Direct labor
15,000
(c) Answer
60,000
(c) Answer
Total direct costs
(a) Answer
96,000
(e) Answer
90,000
Conversion cost
(b) Answer
78,000
(g) Answer
(g) Answer
Manufacturing overhead
24,000
(d) Answer
30,000
(f) Answer
Current manufacturing costs
(c) Answer
(e) Answer
285,000
237,000...
Determine the missing amounts in each of the following independent cases. Case A Case B Case...
Determine the missing amounts in each of the following
independent cases.
Case A
Case B
Case C
Beginning
inventory, raw material
98,000
7,500
Ending
inventory, raw material
199,000
34,000
Purchases
of raw material
295,000
274,000
Direct
material used
235,000
323,000
Direct
labor
395,000
72,000
Manufacturing overhead
595,000
99,000
Total
manufacturing costs
1,135,000
1,130,000
222,000
Beginning
inventory, work in process
89,000
79,000
Ending
inventory, work in process
124,000
4,400
Cost of
goods manufactured
1,088,000
225,000
Beginning
inventory, finished goods
195,000
139,000...
Find the missing figures for each of the independent cases shown below. (Hint: reconstruct income statement...
Find the missing figures for
each of the independent cases shown below. (Hint: reconstruct
income statement for each scenario)
Selling Price/unit
Variable Costs/unit
Sold
Contribution Margin (total)
Fixed Costs
Profit / (Loss)
80.00
a.
10,000.00
200,000.00
120,000.00
b.
15.00
10.00
c.
25,000.00
d.
0.00
4.00
2.00
e.
f.
3,000.00
- 1,000.00
g.
75.00
500.00
12,500.00
8,000.00
h.
10.00
i.
1,000.00
j.
...
Fill in the missing amounts for the following 4 companies. Each case is independent of the...
Fill in the missing amounts for the following 4 companies. Each
case is independent of the others. Assume that only one product is
being sold by each company:
Company A
Company B
Company C
Company D
Units Sold
600
900
Sales in Dollars
$30,000
$63,000
$235,000
$
Total Variable Expenses
$6,600
$
$
$135,000
Per Unit C/M
$
$60
$270
$140
Total Fixed Expenses
$20,600
$35,000
$144,000
$
Net Operating Income (Loss)
$
$7,000
$(9,000)
$(25,000)
Cross-number problem (fill in the missing amounts in the cases below, each case is independent) Case...
Cross-number problem (fill in the missing amounts in the
cases below, each case is independent)
Case
Units Sold
Sales
Variable Expenses
Contribution Margin per unit
Fixed Expenses
Net Income
1
?
$100,000
?
10
32,000
8,000
2
6,000
300,000
?
?
100,000
(10,000)
Case
Sales
Variable expenses
Average contribution margin (percent)
Fixed expenses
Net Income (loss)
3
$500,000
?
20
?
$7,000
4.
?
?
60
130,000
20,000
Cross-number problem (fill in the missing amounts in the cases below, each case is independent) Case...
Cross-number problem (fill in the missing amounts in
the cases below, each case is independent)
Case
Units Sold
Sales
Variable Expenses
Contribution Margin per unit
Fixed Expenses
Net Income
1
?
$100,000
?
10
32,000
8,000
2
6,000
300,000
?
?
100,000
(10,000)
Case
Sales
Variable expenses
Average contribution margin (percent)
Fixed expenses
Net Income (loss)
3
$500,000
?
20
?
$7,000
4.
?
?
60
130,000
20,000
Consider the following proposed relationships between an independent and a dependent variable. In each case, would...
Consider the following proposed relationships between an
independent and a dependent variable. In each case, would it be
realistic for a researcher to perform an experiment to test the
theory? If yes, briefly describe what would be randomly assigned in
the experiment; if no, briefly explain why not.
(a)An individual’s level of religiosity (X) and his or her
preferences for different political candidates (Y).
(b)Exposure to negative political news (X) and political
apathy (Y).
(c)Military service (X) and attitudes...
1. Consider the data for each of the following four independent companies. Calculate the missing values...
1. Consider the data for each of the following
four independent companies. Calculate the missing values in the
table below. For margin and ROI, enter your answers as percentages,
rounded to two decimal places. For example, the decimal value
.03827 would be entered as "3.83" percent. For turnover, enter your
answer as a decimal value rounded to two decimal places.
A
B
C
D
Revenue
$10,000
$49,000
$96,000
$
Expenses
$8,000
$
$90,240
$
Operating income
$2,000
$12,250
$
$...
1. Consider the data for each of the following four independent companies. Calculate the missing values...
1. Consider the data for each of the following
four independent companies. Calculate the missing values in the
table below. For margin and ROI, enter your answers as percentages,
rounded to two decimal places. For example, the decimal value
.03827 would be entered as "3.83" percent. For turnover, enter your
answer as a decimal value rounded to two decimal places.
A
B
C
D
Revenue
$12,500
$48,000
$96,000
$
Expenses
$10,000
$
$90,240
$
Operating income
$2,500
$12,000
$
$...
Fill in the missing amounts in each of the eight case situations below. Each case is...
Fill in the missing amounts in each of the eight case situations
below. Each case is independent of the others. (Hint: One
way to find the missing amounts would be to prepare a contribution
format income statement for each case, enter the known data, and
then compute the missing items.)
Required:
a. Assume that only one product is being sold in each of the
four following case situations:
b. Assume that more than one product is being sold in each...
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