How to find cost of goods purchased
[DOC File]ANSWERS TO QUESTIONS
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For the 10,000 units purchased by the large customer, this would add about $6.96 of cost to each unit. This brings the unit product cost to $83.96. 4. Current profit: Sales [($53.25 ( 15,000) + ($55.75 ( 10,000)] $1,356,250. COGS [($42.60 ( 15,000) + ($44.60 ( 10,000)] 1,085,000. Gross profit $ 271,250. Less: Selling expenses 80,000. Income before taxes $ 191,250. To compute profit associated ...
[DOC File]CHAPTER 3
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Cost of goods is stock as on 31st March 1989 Rs. 1,45,000. Mr. A had withdrawn goods worth Rs. 5,000 during the year. Purchases included purchases of furniture worth Rs. 10,000. Debtors include Rs. 5,000 as bad debts. Creditors include a balance of Rs. 4,000 to the credit of Mr. B in respect of which it has been decided and settled with the party to pay only Rs. 1,000. Sales include goods ...
[DOC File]Chapter 3: BENEFITS AND COSTS, SUPPLY AND DEMAND
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For equipment purchased in 2006: $111,750 ($134,750 – $23,000) of the cost of equipment purchased in 2006, is still on hand. 8/55 X $111,750 = $16,255 For equipment purchased in 2008: 10/55 X $35,400 = 6,436 Total $22,691 EXERCISE 11-15 (25–35 minutes) (b) The most accurate distribution of cost is given by methods 1 and 5 if it is assumed that straight-line is satisfactory. Reasonable ...
[DOC File]Chapter 13: Strategic Cost Management
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The common-size income statement shows 1.5 percent increase in cost of goods sold and a corresponding decrease in the gross margin. This relatively modest change may indicate an increase in markdowns from original sales prices. The profit margin on sales for 2007 has increased by 3 percent over 2006. This is because the company has increased its operating efficiencies by increasing dollar ...
[DOCX File]ROHIT SARAWAGI- 9899669913
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goods purchased for the use of production. goods purchased by retailers. goods purchased by wholesalers. services supplied or rented to others. all of the above (Answer: a; p. 160; Easy; LO1) 2. In one way or another, most large companies sell to _____. a. consumers. b. other organizations. c. employees. d. not-for-profit companies. e. the ...
[DOC File]Solutions for Homework ** Accounting 311 Cost ** Winter 2009
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Use simple geometry for the calculation. Total WTP for 4 kilograms is area a plus area b. Area a is a rectangle with height equal to $3 and length equal to 4: $3 times 4 = $12. Area b is a triangle with height equal to $2 ($5 – $3) and base equal to 4 (4 – 0).
[DOC File]ANSWERS TO QUESTIONS
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$120,000 – ($120,000 X .10) = $108,000, cost of goods purchased. $1,100,000 + $69,000 = $1,169,000. The $69,000 of goods in transit on which title had passed on December 24 (f.o.b. shipping point) should be added to 12/31/06 inventory. The $29,000 of goods shipped (f.o.b. shipping point) on January 3, 2007, should remain part of the 12/31/06 inventory. Because no date was associated with the ...
Calculating Cost of Goods Purchased | Bizfluent
Cost of goods purchased (above) 152,000. Cost of goods available for sale 179,000. Ending merchandise inventory 12/31/2008 34,000. Cost of goods sold $145,000. 2-32 (25–30 min.) Income statement and schedule of cost of goods manufactured. Howell Corporation. Income Statement for the Year Ended December 31, 2009 (in millions) Revenues $950. Cost of goods sold: Beginning finished goods…
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