The Pro Company had no beginning inventory.
Cost of production this month:
Material $1,000
Conversion $2,600
Total $3,600
Completed units this month: 300
Partially completed units in the ending inventory: 100
Required:
What is the cost of the completed units?
What is the cost of the ending inventory?
Assume now that the units in the ending inventory are 60% complete.
In: Accounting
Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.3× Days sales outstanding: 73.0 daysa Inventory turnover ratio: 5× Fixed assets turnover: 3.0× Current ratio: 2.0× Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 15% aCalculation is based on a 365-day year. Do not round intermediate calculations. Round your answers to the nearest dollar. Balance Sheet Cash $ Current liabilities $ Accounts receivable Long-term debt 48,000 Inventories Common stock Fixed assets Retained earnings 60,000 Total assets $240,000 Total liabilities and equity $ Sales $ Cost of goods sold $
In: Finance
Complete the balance sheet and sales information using the
following financial data:
Total assets turnover: 1.6x
Days sales outstanding: 33.5 daysa
Inventory turnover ratio: 6x
Fixed assets turnover: 3x
Current ratio: 2.2x
Gross profit margin on sales: (Sales - Cost of goods sold)/Sales =
15%
aCalculation is based on a 365-day year. Do not round
intermediate calculations. Round your answers to the nearest
cent.
| Balance Sheet | ||||
| Cash | $ | Current liabilities | $ | |
| Accounts receivable | Long-term debt | 100,000 | ||
| Inventories | Common stock | |||
| Fixed assets | Retained earnings | 100,000 | ||
| Total assets | $400,000 | Total liabilities and equity | $ | |
| Sales | $ | Cost of goods sold | $ | |
In: Finance
Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.4x Days sales outstanding: 36.5 daysa Inventory turnover ratio: 4x Fixed assets turnover: 3x Current ratio: 1.9x Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 15% aCalculation is based on a 365-day year. Do not round intermediate calculations. Round your answer to the nearest cent. Balance Sheet Cash $ Current liabilities $ Accounts receivable Long-term debt 50,000 Inventories Common stock Fixed assets Retained earnings 62,500 Total assets $250,000 Total liabilities and equity $ Sales $ Cost of goods sold $
In: Finance
Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.4x Days sales outstanding: 36.5 daysa Inventory turnover ratio: 4x Fixed assets turnover: 3x Current ratio: 1.9x Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 15% aCalculation is based on a 365-day year. Do not round intermediate calculations. Round your answer to the nearest cent. Balance Sheet Cash $ Current liabilities $ Accounts receivable Long-term debt 50,000 Inventories Common stock Fixed assets Retained earnings 62,500 Total assets $250,000 Total liabilities and equity $ Sales $ Cost of goods sold $
In: Finance
Complete the balance sheet and sales information using the
following financial data:
Total assets turnover: 1.1×
Days sales outstanding: 73.0 daysa
Inventory turnover ratio: 4×
Fixed assets turnover: 3.0×
Current ratio: 2.5×
Gross profit margin on sales: (Sales - Cost of goods sold)/Sales =
30%
aCalculation is based on a 365-day year.
Do not round intermediate calculations. Round your answers to the nearest dollar.
| Balance Sheet | ||||
| Cash | $ | Current liabilities | $ | |
| Accounts receivable | Long-term debt | 67,500 | ||
| Inventories | Common stock | |||
| Fixed assets | Retained earnings | 67,500 | ||
| Total assets | $270,000 | Total liabilities and equity | $ | |
| Sales | $ | Cost of goods sold | $ | |
In: Finance
Complete the balance sheet and sales information using the
following financial data:
Total assets turnover: 1.2x
Days sales outstanding: 41.5 daysa
Inventory turnover ratio: 7x
Fixed assets turnover: 3x
Current ratio: 1.5x
Gross profit margin on sales: (Sales - Cost of goods sold)/Sales =
35%
aCalculation is based on a 365-day year. Do not round
intermediate calculations. Round your answers to the nearest
cent.
| Balance Sheet | ||||
| Cash | $ | Current liabilities | $ | |
| Accounts receivable | Long-term debt | 30,000 | ||
| Inventories | Common stock | |||
| Fixed assets | Retained earnings | 50,000 | ||
| Total assets | $200,000 | Total liabilities and equity | $ | |
| Sales | $ | Cost of goods sold | $ | |
In: Finance
Complete the balance sheet and sales information using the
following financial data:
Total assets turnover: 1.6x
Days sales outstanding: 30.5 daysa
Inventory turnover ratio: 5x
Fixed assets turnover: 3.5x
Current ratio: 1.7x
Gross profit margin on sales: (Sales - Cost of goods sold)/Sales =
25%
aCalculation is based on a 365-day year. Do not round
intermediate calculations. Round your answer to the nearest
cent.
| Balance Sheet | ||||
| Cash | $ | Current liabilities | $ | |
| Accounts receivable | Long-term debt | 75,000 | ||
| Inventories | Common stock | |||
| Fixed assets | Retained earnings | 90,000 | ||
| Total assets | $300,000 | Total liabilities and equity | $ | |
| Sales | $ | Cost of goods sold | $ | |
In: Finance
Complete the balance sheet and sales information using the
following financial data:
Total assets turnover: 1.5x
Days sales outstanding: 39 daysa
Inventory turnover ratio: 7x
Fixed assets turnover: 2.5x
Current ratio: 1.5x
Gross profit margin on sales: (Sales - Cost of goods sold)/Sales =
15%
aCalculation is based on a 365-day year. Do not round
intermediate calculations. Round your answer to the nearest
cent.
| Balance Sheet | ||||
| Cash | $ | Current liabilities | $ | |
| Accounts receivable | Long-term debt | 48,750 | ||
| Inventories | Common stock | |||
| Fixed assets | Retained earnings | 97,500 | ||
| Total assets | $325,000 | Total liabilities and equity | $ | |
| Sales | $ | Cost of goods sold | $ | |
In: Finance
Complete the balance sheet and sales information using the
following financial data:
Total assets turnover: 1.4×
Days sales outstanding: 36.5 daysa
Inventory turnover ratio: 5×
Fixed assets turnover: 3.0×
Current ratio: 2.0×
Gross profit margin on sales: (Sales - Cost of goods sold)/Sales =
35%
aCalculation is based on a 365-day year.
Do not round intermediate calculations. Round your answers to the nearest dollar.
| Balance Sheet | ||||
| Cash | $ | Current liabilities | $ | |
| Accounts receivable | Long-term debt | 60,000 | ||
| Inventories | Common stock | |||
| Fixed assets | Retained earnings | 72,000 | ||
| Total assets | $240,000 | Total liabilities and equity | $ | |
| Sales | $ | Cost of goods sold | $ | |
In: Finance