Entries by Grace Wahito

Prepare the operating activities section of Middleburg Golf Club’s

February 11, 2020 in /by

Prepare the operating activities section of Middleburg Golf Club’s statement of cash flows for the year ended September 30, 2018. The company uses the direct method for operating cash flows. Cost of Goods Sold        106,000 Payment of Dividends            6,500 Payment to Suppliers        113,000 Proceeds from Issuance of Stock          22,000 Purchase of Equipment for Cash          42,000 Sales Revenue        226,000 Payments to employees          79,000 […]

 

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The balance in the Finished Goods inventory account at the beginning of the month was $63,000 and at the end of

February 11, 2020 in /by

The balance in the Finished Goods inventory account at the beginning of the month was $63,000 and at the end of the month was $31,100. The cost of goods manufactured for the month was $217,500. The actual manufacturing overhead cost incurred was $58,300 and the manufacturing overhead cost applied to Work in Process was $62,400. […]

 

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Milo-Freeze Company manufactures and sells a product that has seasonal variations in demand, with peak sales

February 11, 2020 in /by

Milo-Freeze Company manufactures and sells a product that has seasonal variations in demand, with peak sales coming in the third quarter. The following information concerns operations for Year 2- the coming year- and for the first two quarters of Year 3: 1.) The company’s single product sells for $10 per unit. Budgeted sales in units for the […]

 

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Determining the break-even point and preparing a contribution

February 11, 2020 in /by

Determining the break-even point and preparing a contribution margin income statement Lucent Manufacturing Company makes a product that it sells for $75 per unit. The company incurs variablemanufacturing costs of$30 per unit. Variable selling expenses are $9 per unit, annual fixed manufacturing costs are $240,000, and fixed selling and administrative costsare $165,000 per year. Required […]

 

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