Fill This Form To Receive Instant Help

Help in Homework
trustpilot ratings
google ratings


Homework answers / question archive / Question 1 The following data (in thousands of dollars) have been taken from the accounting records of Karlana Corporation for the year just ended Sales $910 Raw materials inventory, beginning $80 Raw materials inventory, ending $20 Purchase of raw materials $100 Direct labour $130 Manufacturing overhead $200 Administrative expenses $160 Selling expenses $140 Work in progress inventory, beginning $40 Work in progress inventory, ending $10 finished goods inventory, beginning $130 finished goods inventory, ending $150   What was the cost of goods sold for the year (in thousands of dollar)?   Multiple Choice O $530 O $520 O $500 O $460 Question 3 An income statement for Crandall’s, Bookstore for the first quarter of the current year is presented below: CRANDALU’s BOOKSTORE Income Statement for the First Quarter of the Current Year Sales   $800,000 Less: Cost of Goods Sold all variable   560,000 Gross Margin   240,000 Less operating expenses     Selling $98,000   Administrative 98,000   Operating income   $44,000   On average, a book sells for $50

Question 1 The following data (in thousands of dollars) have been taken from the accounting records of Karlana Corporation for the year just ended Sales $910 Raw materials inventory, beginning $80 Raw materials inventory, ending $20 Purchase of raw materials $100 Direct labour $130 Manufacturing overhead $200 Administrative expenses $160 Selling expenses $140 Work in progress inventory, beginning $40 Work in progress inventory, ending $10 finished goods inventory, beginning $130 finished goods inventory, ending $150   What was the cost of goods sold for the year (in thousands of dollar)?   Multiple Choice O $530 O $520 O $500 O $460 Question 3 An income statement for Crandall’s, Bookstore for the first quarter of the current year is presented below: CRANDALU’s BOOKSTORE Income Statement for the First Quarter of the Current Year Sales   $800,000 Less: Cost of Goods Sold all variable   560,000 Gross Margin   240,000 Less operating expenses     Selling $98,000   Administrative 98,000   Operating income   $44,000   On average, a book sells for $50

Accounting

Question 1

The following data (in thousands of dollars) have been taken from the accounting records of Karlana Corporation for the year just ended

Sales

$910

Raw materials inventory, beginning

$80

Raw materials inventory, ending

$20

Purchase of raw materials

$100

Direct labour

$130

Manufacturing overhead

$200

Administrative expenses

$160

Selling expenses

$140

Work in progress inventory, beginning

$40

Work in progress inventory, ending

$10

finished goods inventory, beginning

$130

finished goods inventory, ending

$150

 

What was the cost of goods sold for the year (in thousands of dollar)?  

Multiple Choice

O $530

O $520

O $500

O $460

Question 3

An income statement for Crandall’s, Bookstore for the first quarter of the current year is presented below: CRANDALU’s BOOKSTORE

Income Statement for the First Quarter of the Current Year

Sales

 

$800,000

Less: Cost of Goods Sold all variable

 

560,000

Gross Margin

 

240,000

Less operating expenses

 

 

Selling

$98,000

 

Administrative

98,000

 

Operating income

 

$44,000

 

On average, a book sells for $50. Variable selling expenses are $5.50 per book, with the remaining selling expenses being fixed. The variable administrative expenses are 3% of sales, with the remainder being fixed.

What is the cost formula for operating expenses where X represents the number of books sold?

Multiple Choice

 

Purchase A New Answer

Custom new solution created by our subject matter experts

GET A QUOTE