Acct 212 chapter 18
neelExercise 18-7 Balance sheet identification and preparation L.O. C4
[The following information applies to the questions displayed below.]
Current assets for two different companies at calendar year-end 2011 are listed here. One is a manufacturer, Roller Blades Mfg., and the other, Sunny Foods, is a grocery distribution company. |
Account | Company 1 | Company 2 |
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Cash | $ | 11,000 |
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| $ | 9,000 |
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Raw materials inventory |
| — |
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| 35,750 |
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Merchandise inventory |
| 38,750 |
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| — |
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Goods in process inventory |
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| 26,000 |
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Finished goods inventory |
| — |
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| 46,000 |
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Accounts receivable, net |
| 55,000 |
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| 66,000 |
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Prepaid expenses |
| 4,500 |
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| 900 |
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1.
value:
1.00 points
Exercise 18-7 Part 1.1
(1.1) | Identify which set of numbers relates to the manufacturer. |
$ | $ | $ |
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9.
value:
2.00 points
Exercise 18-13 Cost flows in manufacturing L.O. C5
The following chart shows how costs flow through a business as a product is manufactured. Some boxes in the flowchart show cost amounts. Compute the cost amounts for the input boxes. |
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$37,550 | ||||||
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$7,550 | $ [removed] | $5,050 | ||||
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$ [removed] | ||||||
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$78,050 |
| $132,050 | ||||
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$22,550 | $ [removed] | $ [removed] | ||||
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| $245,600 |
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$ [removed] | $286,150 | $30,050 | ||||
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| $ [removed] |
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