Completed goods from work in process
If the company transferred $234,000 of completed goods from work in process to finished goods inventory during April, what was the cost of goods sold for the month?
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$89,000 in raw materials were requisitioned for use in production. Of this amount, $78,000 was for direct materials and the remainder was for indirect materials.
Sebring Company reports depreciation expense of $49,000 for Year 2. Also, equipment costing $168,000 was sold for its book value in Year 2.
If the raw materials purchased during April totaled $63,000, what was the cost of the raw materials used in production for the month?
On February 15, Seacroft buys 6,200 shares of Kebo common at $28.71 per share plus a brokerage fee of $485. The stock is classified as available-for-sale securities.
In 2013, Janet and Ray are married filing jointly. They have five dependent children under 18 years of age. The couple's AGI is $180,000 and their taxable income is $140,000.
A company's income statement showed the following: net income, $132,000; depreciation expense, $34,000; and gain on sale of plant assets, $18,000.
On January 1, 2012, Gucci Brothers Inc. started the year with a $501,000 balance in retained earnings and a $600,000 balance in common stock.
The selling price of the company%u2019s product is $23.00 per unit. Management expects to collect 75% of sales in the quarter in which the sales are made.
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