Entries by mary WAMBUGU

How to determine dollar amount of finished goods inventory? sales $100,000

August 22, 2019 in /by

How to determine dollar amount of finished goods inventory?sales $100,000Cost of goods manufactured 54,000 Direct material purchased 78,000 Factory overhead 18,000 Work in process-Jan 1 58,000 work in process-Dec 31 28,000 Direct Material -Dec 31 18,000 Finished Goods Inventory- Dec 31 42,000 Net income 30,000 Direct materials used 58,000 Cost of Goods Sold 52,000   […]

 

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How to determine the number of units that must be sold to meet a goal A Company sells a product at $5 a unit.

August 22, 2019 in /by

How to determine the number of units that must be sold to meet a goalA Company sells a product at $5 a unit. Fixed costs are expected to be $150,000 and variable costs are estimated to increase from $2 per unit to $3 a unit. A Company wants to have a FY operating income of […]

 

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During FY A Company plans to sell product for $4 a unit. Current variable costs are $2 a unit and fixed costs are expected to increase to a total of $90,000.

August 22, 2019 in /by

During FY A Company plans to sell product for $4 a unit. Current variable costs are $2 a unit and fixed costs are expected to increase to a total of $90,000. Determine 1. number of units for A Company to breakeven 2. total dollar value of sales that A Company must achieve to breakeven   […]

 

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JIT production system no raw materials, WIP or finished goods inventories. Cost expected to stay the same for FY with exception of fixed factory overhead is budgeted to increase by $1700

August 22, 2019 in /by

CVP format income statementSales (100 units) $10000Direct labor $1500Direct Materials 1400 Factory overhead variable 1000 Selling expenses  variable 600 Administrative Expenses variable 500 Total Variable Expenses   5000 Contribution margin $5000 Fixed Costs Factory overhead fixed $500 Selling Expenses fixed 1000 Administrative expenses fixed 1000 Total fixed expenses 2500 Net income $2500 JIT production system no […]

 

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