Homework Answers
(5)
OPTION:
EXPLANATION
(6)
OPTION C: $7500
EXPLANATION:
Cost of goods sold = beginning inventory of finished goods + cost of goods manufactured + ending inventory of finished goods
= $5000 + $5500 - $3000
= $7500
(7)
OPTION D: $192000
EXPLANATION:
cost of ending inventory = cost of beginning inventory +
purchases of new merchandise- cost of goods sold
= $32000 + $200000 - $40000
= $192000
(8)
OPTION B: $1200
EXPLANATION:
breakeven revenue = fixed costs/contribution margin ratio
contribution margin ratio = ($40 - $10)/$40 = 75%
therefore,
breakeven revenue = $900/75% = $1200
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1)
2)
3)
4)
5)
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