2)During FY 2016, Bravo Manufacturing had a beginning finished goods inventory of $250 & ending finished goods inventory of $750.  Work-in-process decreased by $250 during FY 2016 and factory overhead was $2,000. The total manufacturing costs amounted to $48,000. Use this information to determine the FY 2016 dollar amount of: (Round dollar values & enter as whole dollars only.)

1. Cost of Goods Manufactured

2. Cost of Goods Sold

 

 3)During FY 2016 Bravo Manufacturing had total manufacturing costs are $520,000. Their cost of goods manufactured for the year was $485,000.  The January 1, 2017 balance of Work-in-Process Inventory is $60,000. Use this information to determine the dollar amount of the FY 2016 beginning Work-in-Process Inventory. (Round dollar values & enter as whole dollars only.)

 

7)Bravo Company manufactures quality gentlemen's clothing.  The following selected financial information for the fiscal year 2016 is provided:

Item

Amount

Sales

$100,000

Cost of Goods Manufactured

75,000

Direct Material Purchased

40,000

Factory Overhead

10,000

Work in Process - January 1

30,000

Work in Process - December 31

15,000

Direct Material - December 31

10,000

Finished Goods Inventory - December 31

60,000

Net Income

15,000

Direct Materials used

30,000

Cost of Goods Sold

65,000

Use this information to determine the dollar amount of Bravo's Gross Profit for the fiscal year 2016. (Round dollar values & enter as whole dollars only.)

 

 8)Bravo Company manufactures quality gentlemen's clothing.  The following selected financial information for the fiscal year 2016 is provided:

Item

Amount

Sales

$100,000

Cost of Goods Manufactured

75,000

Direct Material Purchased

40,000

Factory Overhead

10,000

Work in Process - January 1

30,000

Work in Process - December 31

15,000

Direct Material - December 31

10,000

Finished Goods Inventory - December 31

60,000

Net Income

22,000

Direct Materials used

30,000

Cost of Goods Sold

55,000

Use this information to determine the dollar amount of Bravo's Operating Expenses for the fiscal year 2016. (Round dollar values & enter as whole dollars only.)

 

 

9)Bravo Company manufactures quality gentlemen's clothing.  The following selected financial information for the fiscal year 2016 is provided:

Item

Amount

Sales

$100,000

Cost of Goods Manufactured

65,000

Direct Material Purchased

40,000

Factory Overhead

10,000

Work in Process - January 1

30,000

Work in Process - December 31

15,000

Direct Material - December 31

10,000

Finished Goods Inventory - December 31

60,000

Net Income

15,000

Direct Materials used

30,000

Cost of Goods Sold

55,000

Use this information to determine the dollar amount of Bravo's Direct Labor Costs for the fiscal year 2016. (Round dollar values & enter as whole dollars only.)

 

 

10)Bravo Company manufactures quality gentlemen's clothing.  The following selected financial information for the fiscal year 2016 is provided:

Item

Amount

Sales

$100,000

Cost of Goods Manufactured

75,000

Direct Material Purchased

30,000

Factory Overhead

10,000

Work in Process - January 1

30,000

Work in Process - December 31

15,000

Direct Material - December 31

10,000

Finished Goods Inventory - December 31

60,000

Net Income

15,000

Direct Materials used

30,000

Cost of Goods Sold

55,000

Use this information to determine the dollar amount of Bravo's Direct Material Inventory for January 1, 2016. (Round dollar values & enter as whole dollars only.)

 

 14) Bravo Air Conditioning & Heating Company performs air conditioner repair service.  During July, its busiest month, Bravo had repair labor hours of 60,000 and total costs of $840,000.  During November, its slowest month, Bravo had labor hours of 20,000 and total costs or $480,000.  Bravo planned for 48,000 labor hours in August. Use this information to determine how many dollars Bravo should be budgeted for total costs in August. (Round any total dollar value to the nearest whole dollar & enter as whole dollars only. Round any unit dollar value to the nearest penny & enter with both dollar(s) & cents. Round any unit non-dollar decimal numbers to the next higher whole number and enter as a whole number.)

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Status NEW Posted 20 Jun 2017 04:06 AM My Price 10.00

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