Good Night, Inc., manufactures comforters. The estimated inventories on January 1 for finished goods, work in process, and materials were $51,000, $28,000, and $33,000, respectively. The desired inventories on December 31 for finished goods, work in process, and materials were $48,000, $35,000, and $29,000, respectively. Direct materials purchases were $555,000. Direct labor was $252,000 for the year. Factory overhead was $176,000. Prepare a cost of goods sold budget for Good Night, Inc.

Answers

Answer 1

Answer:

Good Night, Inc.

Cost of goods sold budget

Beginning Finished Goods  Inventory                    $51,000

Add Cost of Goods Manufactured                       $980,000

Less Ending Finished Goods Inventory                ($48,000)

Cost of goods sold                                                $947,000

Explanation:

Step 1 : Determine the Direct Materials used in Production

Beginning Materials Inventory                                $33,000

Add Material Purchases                                        $555,000

Less Ending Materials Inventory                           ($29,000)

Direct Materials used in Production                     $559,000

Step 2 : Determine the Cost of Goods Manufactured

Beginning Work In Process Inventory                    $28,000

Add Manufacturing Costs :

Direct Materials used                   $559,000

Direct labor                                   $252,000

Factory overhead                         $176,000         $987,000

Less Ending Work In Process Inventory               ($35,000)

Cost of Goods Manufactured                               $980,000

Step 3 : Prepare the Cost of goods sold budget

Beginning Finished Goods  Inventory                    $51,000

Add Cost of Goods Manufactured                       $980,000

Less Ending Finished Goods Inventory                ($48,000)

Cost of goods sold                                                $947,000


Related Questions

Under what circumstancess should outsourcing be used for building Information systems​

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Answer:

FOR LIFE INSURANCE DENSITY

Jarrett Baker is the founder of an enterprise software company. By looking at his income statements over the past three years, you see that its working capital has declined from $42,400 in 2015 to $17,900 in 2016 to $3,100 in 2017.

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Explanation:

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Outline four ways in which kenya can use her natural resources economically for maximum benefit.​

Answers

Answer:

1 . Their exploitation creates employment

2 . Provides raw materials for industries

3. They are sued to generate income for a country/ foreign income

4. They are basic factors for sustenance of a life e.g. irrigation schemes

5. Provides means of transport

Explanation:

In which of the following situations is it ok to NOT wash your hands

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Answer:

Need the options to answer this...

Explanation:

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Answer:

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Explanation:

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1. A pharmacy has determined that a healthy person should receive 70 units of proteins, 100 units of carbohydrates and 20 units of fat daily. If the store carries the six types of health food with their ingredients as shown in the table below, what blend of foods satisfies the requirements at minimum cost to the pharmacy? Make a mathematical model for the given problem.

Answers

Answer: 50

Explanation: test

Reasonable people debate the ethics of marketing through influencers. We are sometimes led to believe that they use the product they are advertising, and it isn't disclosed that they are being paid for it. What do you think? Is it ethical? Justify your answer.​

Answers

In modern times, that is peoples job, is to use the product then say how it was, and how it worked for them. This is how they earn money! This would most likely be ethical since they are not lying to you about that they used the product.
Now on the other hand, if they were lying and were just making up words then getting paid, now that’s not ethical.

A client has several suppliers they purchase their materials from, and most of the suppliers require part or all payments to be made at the time of order. You advise your client to set up a Prepayments account that can be reconciled each month. How should this account be set up

Answers

Analyzing the above scenario, the customer should set up an asset account called prepayment, which is an item described in the balance sheet as a current asset and liability, as this will be a financial resource available for future use.

A prepayment asset account is therefore configured as an expense previously paid, but which has not yet occurred, being this a facility for companies to pay their suppliers at the time of the order in a previously scheduled manner.

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If a stadium increases its profit margin from $250,000 to $575,000, what is the percentage increase in profit margin?

Answers

Answer:

250,000x575,000 a percentage is 1 thusand

The percentage increase in profit margin would be : 57%

First, we'll get increase in the profit

= $575,000 - $250,000

= $325,000

Then, the percentage increase in profit margin

= $325,000 / $575,000 * 100

= 0.57 * 100

= 57%

Hence, the percentage increase in profit margin would be 57%.

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Soda vs GDP Note: The linear model is the linear trend line (the broken line). (i) Both the USA and Mexico consume more soda than predicted by the linear model. But which of the two countries consumes much more than predicted? [ Select ] (ii) Both Japan and Switzerland consume less soda than predicted by the linear model. But which of the two countries consumes much less than predicted? [ Select ] (iii) Of the countries named on the scatterplot, which country’s soda consumption was closest to the amount predicted by the linear model? [ Select ] (iv) Of the countries named on the scatterplot, which country’s soda consumption was furthest from the amount predicted by the linear model?

Answers

The linear model is a term that determines a direct relationship between two elements that maintain a constant rate.

According to this and the graph shown in the figure below, we can answer the above questions as follows:

The US consumes more soda than Mexico.Japan consumes less soda than Switzerland.Egypt was the country that had the consumption of soda closest to the amount predicted by the linear model.The USA was the country that had the consumption of soda farther than what was predicted by the linear model.

We can arrive at these answers by looking at the chart. This is because the red dashed line, in the center of the graph, shows the forecast of the linear model about the consumption of soft drinks in the countries, taking into account their GDP.

In this case, by observing the position of the countries around this line, we can conclude the consumption of soda.

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A style guide, such as an MLA manual, will assist you in:
a
Correctly using grammar and punctuation
b
Helping you check your spelling
c
Formatting your references correctly
d
None of these are correct uses for style guide

Answers

Answer:

d

Explanation:

A style guide, such as an MLA manual, will assist you in "None of these are correct uses for style guide". The correct option is D.

A style guide like an MLA manual, serves multiple functions beyond grammar, punctuation, spelling or formatting references. It provides a structured framework for consistency in various communication aspects.

It guides writers in maintaining a uniform tone, style, and formatting across documents, ensuring clarity and professionalism.

The guidelines for layout, headings, citations, and visual elements, a style guide supports effective communication, fosters credibility, and aligns written materials with a specific purpose or brand identity.

Therefore, the correct option is D.

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What is the recovery period and depreciation method of a residential rental property located in a foreign country which was placed in service after December 31, 2017?

Answers

Answer: For residential rental property, the recovery period using GDS is 27.5 years. 2 If you use ADS, the recovery period for the same type of property is 30 years if it was placed in service after December 31, 2017, or 40 years if it was placed in service before that date.

Explanation: Is the good enough???

Today is Jerry's first day at his new job as a cashier at the local grocery store. When he arrives in the morning one of his new colleagues explains that Jerry will spend some time watching his colleague use the cash register while the colleague explains what he is doing. Then, after break time, it will be Jerry's turn to start acting as cashier, with his colleague right next to him to show him how to use the machine properly and conduct transactions with customers. Once he feels confident and learns this new skill, Jerry will be able to operate the cash register on his own. This is an example of:

Answers

Since today is Jerry's first day as a cashier at the grocery store and he is spending some hours observing another colleague, the use of the cash register, Jerry is receiving an example of on-the-job training.

An on-the-job training exposes the recruit to the tools, processes, and environment of the job.

An on-the-job training involves initial observation of another colleague doing the job, receiving instructions from supervisors, and practical experience.

Observation helps the recruit to see how the job is done and to ask questions for clarifications. Instructions are given so that the recruit understands the entity's practices and procedures. The hands-on experience enables the recruit to start doing the tasks involved in the job.

Thus, on-the-job training is an aspect of Human Resources Management that helps Jerry to acquire competences and skills to carry out the cashier job at the grocery store.

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A company purchased $4,400 worth of merchandise. Transportation
costs were an additional $385. The company returned $305 worth of
merchandise and then paid the invoice within the 2% cash discount
period. The total cost of this merchandise is:

Answers

Answer:

If I did get it right it should be 4,569.6

On January 1, 2020, QuickPort Company acquired 90 percent of the outstanding voting stock of
NetSpeed, Inc., for $810,000 in cash and stock options. At the acquisition date, NetSpeed had
common stock of $800,000 and Retained Earnings of $40,000. The acquisition-date fair value of
the 10 percent noncontrolling interest was $90,000. QuickPort attributed the $60,000 excess of
NetSpeed's fair value over book value to a database with a five-year remaining life.
During the next two years, NetSpeed reported the following:
Net Income
Dividends Declared
2020
2021
$ 80,000
115,000
$8,000
8,000
On July 1, 2020, QuickPort sold communication equipment to NetSpeed for $42,000. The
equipment originally cost $48,000 and had accumulated depreciation of $9,000 and an estimated
remaining life of three years at the date of the intra-entity transfer.
a. Compute the equity method balance in QuickPort's Investment in NetSpeed, Inc., account as of
December 31, 2021.
b. Prepare the worksheet adjustments for the December 31, 2021, consolidation of QuickPort and
NetSpeed.

Answers

a) If on January 1, 2020, QuickPort Company acquired 90 percent of the outstanding voting stock of NetSpeed, Inc., the equity method balance in QuickPort's Investment in NetSpeed, Inc., account as of December 31, 2021 will be:

Investment Account:

Consideration paid (fair value)  $810,000

Net Income for 2020 $80,000

Database distribution ($60,000/5) ($12,000)

Netspeed's adjusted income $68,000

($80,000-$12,000)

Quickport ownership percentage 90%

(100%-10%)

Quickport share of net income $61,200

(90%×$68,000)

Gain on equipment transfer $3,000

[$42,000-($48,000-$9,000)  

Depreciation adjustment (6 Months) $500

[($3,000/3year)/2]

Equity in earnings of Netspeed $58,700

($61,200-$3,000+$500)

Quickport share of Netspeed's dividends ($7,200)

(90% ×$8,000)  

Balance 12/31/2020  $861,500

($810,000+$58,700-$7,200)

Netspeed's reported net income for 2021 $115,000

Database amortization ($12,000)

($60,000/5)

Netspeed's adjusted 2021 net income $103,000

Quickport's ownership percentage 90%

(100%-10%)

Quickpoet's share of Net speed net income $92,700

(90%×$103,000)  

Depreciation adjustment $500

[($3,000/3year)/2]

Equity in earnings of Netspeed company 2021 $93,200

($92,700+$500)

Quickport's share of Netspeed's dividend ($7,200)

(90% ×$8,000)

Balance 12/31/2021  $947,500

($861,500+$93,200-$7,200)

b. Preparation of  the worksheet adjustments for the December 31, 2021, consolidation of QuickPort and NetSpeed.

1. Dr Equipment $6,000

($48,000 - $42,000)

Cr Investment in Netspeed $2,500

 ​($3,000-$500)  

Accumulated depreciation  $8,500

($6,000+$2,500)

2. Dr Common stock-Netspeed $800,000

Dr Retained eanings-Netspeed $114,000

[$42,000+($80,000-$8,000)]  

Cr Investment in Netspeed  $822,600

[($800,000+$114,000)×90%]

Cr Noncontrolling interest  $91,400

[($800,000+$114,000)×10%]

3. Dr  Database $36,000

($48,000-$12,000)  

Cr Investment in Netspeed  $32,400

($36,000×90%)

Cr Noncontrolling interest  $3,600

($36,000×10%)

4. Dr Equity in earnings of Netspeed $93,200

Cr Investment in Netspeed  $93,200

5. Dr Investment in Netspeed $7,200

Dividends declared  $7,200

(90%×$8,000)

6. Dr  Amortization expense $12,000

Cr Database  $12,000

($60,000/5)

7. Dr Accumulated depreciation $1,000

Cr Depreciation expense $1,000

($3,000/3 years)

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Explain the significance of each of the following major fields of business activity: manufacturing, wholesaling, retailing.

Answers

Answer:

Manufacturing is the process of transforming raw resources into a form that customers can utilize. A picture frame maker creates completed items out of wood and glass. A baker is someone who transforms flour, sugar, and spices into pies and cakes. Manufacturing, more than any other industry, lends itself to large-scale operations. This is due to the fact that many of these businesses, such as automotive manufacturing, require significant quantities of money and a big number of employees to get started.

Explanation:

Wholesalers purchase items from extractive or manufacturing firms and resell them to other businesses. They often acquire in big numbers before selling in tiny ones.

Retailers purchase items from wholesalers, manufacturers, and extractive companies and sell them to customers. Most people associate retail with a store where they may purchase products.

Overinflated tires are more prone to _____.
A. hydroplaning
B. deflating slowly
C. blowouts
D. catching on fire

Answers

Answer:

Blowouts

Explanation:

It is because it pops easier

blow outs its easy to explode

Oleg's four employees have been with him since he opened Ready Recruitment Services nearly a decade ago. As he anticipates staffing his new branch office, he decides none of these four long-time employees are ready to manage the office. Faced with this difficult situation, what should Oleg do

Answers

Faced with this difficult situation, ideally, Oleg would run the new branch himself and nominate one of the three to assume the original office, as this would be a way to demonstrate confidence and test the skills of an employee in a higher position.

In this way, the former employee's chances of succeeding in a more responsible management position would increase, due to the employee's long-term knowledge of the workplace and organizational structure.

Oleg should choose for the position and train the collaborator who:

Demonstrate greater innovation and creativity.Be flexible.Have assertive communication skills.

Therefore, this would be a way for Oleg to analyze the skills as a manager of an employee in relation to a work environment he already knows.

Oleg would also be able to increase his willingness to manage the new office effectively.

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the emergent strategies are those strategies adopted in light of a thorough analysis of both external and internal environment only . true or false ?​

Answers

The statement "The emergent strategies are those strategies adopted in light of a thorough analysis of both external and internal environment only" is: True

Emergent strategies are those measures which are taken to ensure that a company grows and is successful even when there is no particular set aims or goals.

However, the statement that an emergent strategy can only exist in only an internal and external environment is true.

This is because these internal and external factors are why the strategies are in place to make sure that there is a realized goal in the company and that continuity is ensured.

Please note that an internal environment is one that has a direct impact on the company,while external environment does not directly impact the company

Therefore, the correct answer is true

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Why is a tariff imposed

Answers

impose tariffs to raise revenue or to protect domestic industries

Empire Airlines reports the following cost data for the year. The company flew 100 private flights during the year. A group has offered Empire $11,100 for a private flight to Chicago for its members. Revenue$ 20,100per flight Wages, salaries, and benefits$ 7,100per flight Fuel and oil$ 4,600per flight Food and beverages$ 520per flight Depreciation$ 305,000per year Rent$ 255,000per year (a) What is the contribution margin from accepting the offer

Answers

If Empire Airlines accepts the offer, their contribution margin from that trip would be -$1,120

Contribution margin is calculated as:

= Revenue - Variable costs

The revenue the group is offering is $11,100.

The Variable costs are;

= Wages + Fuel + Food

= 7,100 + 4,600 + 520

= $12,220

The Contribution margin is:

= 11,100 - 12,220

= -$1,120

In conclusion, the contribution margin is -$1,120

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I WILL MARK BRAINLIEST!!!
The best way to make yourself valuable to your employers is to learn _____.
A) How to do your job only
B) How to do multiple jobs
C) How to avoid doing work
D) How to avoid embarrassment

Answers

Answer:

D. How to avoid embarrassment

Hope im correct im from philippines please greet me :))

Answer:

its d

Explanation:

edge 2023

what are your political beliefs?

Answers

Answer:

political belief or activity means your beliefs and actions, as long as they are lawful. ... That means it is against the law to discriminate against you because you support a certain political party or because you don't support a certain political party.

Explanation:

i think that trump is trash and biden is trash, they both have awful things that they have done!!

Break-Even Sales Currently, the unit selling price of a product is $7,520, the unit variable cost is $4,400, and the total fixed costs are $23,400,000. A proposal is being evaluated to increase the unit selling price to $8,000. a. Compute the current break-even sales (units). fill in the blank 1 units b. Compute the anticipated break-even sales (units), assuming that the unit selling price is increased and all costs remain constant. fill in the blank 2 units

Answers

67,445 because adding all numbers then finding the mean will allow you to find the correct answer

HURRY!!!!! !PERSONAL FINANCE! In the New York Stock Exchange, traders are on the floor verbally submitting their offers. What type of stock market is this considered to be?

A. neutral

B. physical

C. virtual

D. rational

Answers

Answer: the ANSWER IS B!!!!!!

Explanation:

Answer: B

Explanation:

Calcular el interes que genera un capital emprestado de $ 15500 a una tasa del 6,5% anual durante 240 dias
Necesito ayuda

Answers

Answer:

I think answer is 41.97.

You have an annual salary of $58,000 from which they deduct 3% for medical insurance and 18% for taxes. Your rent is $1200 a month. Your water, electricity and internet bill are around $238 a month. Every week you put 130 miles on your car that gives you 20 miles per gallon and gas cost $3.17 per gallon. You pay a premium of $1,019 every six months for car insurance. You spend $120 a week on food. You also have a student loan that you are paying $150 on every month and you spend $100 every 2 weeks just to treat yourself.

Requried:
Create a monthly budget and find your monthly cash flow.

Answers

Answer:

bhruy5y4t4yt4hdjzvcxvcfg

Explanation:

Jagjit Company designs and builds retaining walls for individual customers. On August 1, there were two jobs in process: Job 93 with a beginning balance of $8,650, and Job 94 with a beginning balance of $7,270. Jagjit applies overhead at the rate of $9 per direct labor hour. Direct labor wages average $16 per hour. Data on August costs for all jobs are as follows:

Job 93 Job 94 Job 95 Job 96
Direct materials $910 $4,590 $3,330 $1,270
Direct labor cost 2,080 4,800 2,400 960
During August, Jobs 95 and 96 were started. Job 93 was completed on August 17, and the client was billed at cost plus 40%. All other jobs remained in process.

Refer to the list below for the exact wording of text items within your job-order cost sheets.

Amount Descriptions
Applied overhead
Beginning balance
Direct labor
Direct materials
Total

Jagjit Company

Job-Order Cost Sheets

August 31

1

Job 93

Job 94

Job 95

Job 96

2

Beginning balance

3

4

5

6

4. Calculate the balance in Work in Process on August 31.

The work in process balance on August 31 is .

Points:

0 / 1

5. What is the price of Job 93?

The price of Job 93 is .

Points:

0 / 1

Partway through the year, Jagjit bought a bulldozer to handle larger jobs. The bulldozer cost $38,500 and is needed for larger commercial jobs. Smaller residential jobs can still be done with the smaller bobcat tractor.

6. CONCEPTUAL CONNECTION: Complete the statement below that outlines how the bulldozer’s cost could be applied to only those jobs that need the larger equipment.

Create a separate ________ for the acquisition and use of the bulldozer. Treat the bulldozer’s depreciation, fuel, maintenance, etc. as _______ . Divide this by the anticipated annual hours of use to arrive at the ___________ .

Answers

Answer:

retaining walls for individual customers. On August 1, there were two jobs in process: Job 93 with a beginning balance of $8,650, and Job 94 with a beginning balance of $7,270. Jagjit applies overhead at the rate of $9 per direct labor hour. Direct labor wages average $16 per hour. Data on August costs for all jobs are as follows:

Job 93 Job 94 Job 95 Job 96

Direct materials $910 $4,590 $3,330 $1,270

Direct labor cost 2,080 4,800 2,400 960

During August, Jobs 95 and 96 were started. Job 93 was completed on August 17, and the client was billed at cost plus 40%. All other jobs remained in process.

Refer to the list below for the exact wording of text items within your job-order cost sheets.

Amount Descriptions

Applied overhead

Beginning balance

Direct labor

Direct materials

Total

Explanation:

hello

What strategies and plans would you develop to improve communication at all levels?

Answers

Answer:

Keep it real. When delivering your message, be truthful and as complete as possible. ...

Be timely. Don't wait until you have all the information to deliver a message. ...

Focus on consistency. ...

Tailor your message. ...

Reinforce it. ...

Encourage feedback. ...

Empower your managers.

Explanation:


The minimum passing scale score for all written and practical licensing examinations for board of barbers and cosmetologist in the state of New Mexico.
A. 75
B. 80
C. 70

Answers

B or C not quite sure
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