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Work in process inventory, beginning 150
Work in process inventory, ending 100
Finished goods inventory, beginning 80
Finished goods inventory, ending 110
Use the above data to prepare (in thousands of dollars) a schedule of
Cost
of Goods Manufactured and a Schedule of Cost of Goods Sold for the
year.
In addition, what is the impact on the financial statements if the ending
finished goods inventory is overstated or understated?
4. Question : (TCO F) Walker Corporation is preparing its cash budget
for November. The
budgeted beginning cash balance is $43,000. Budgeted cash receipts
total $117,000 and budgeted cash disbursements total $122,000. The
desired
ending cash balance is $55,000. The company can borrow up to
$100,000 at
any time from a local bank, with intere st not due until the following
month.
Required:
Prepare the company's cash budget for November in good form. Make
sure
to indicate what borrowing, if any, would be needed to attain the desired
ending cash balance
5. Question : (TCO F) Bella Lugosi Holdings, Inc. (BLH), has collected
the following
operating information for its current month's activity. Using this
information,
prepare a flexible budget analysis to determine how well BLH
performed in
terms of cost control.
Static Budget
Activity level (in units) 5,250 5,178
Variable costs:
Indirect materials $24,182 $23,476