Acct 212 chapter 18 | Business & Finance

Exercise 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

 

  Cash

$

11,000

 

 

$

9,000

 

 

  Raw materials inventory

 

—

 

 

 

35,750

 

 

  Merchandise inventory

 

38,750

 

 

 

—

 

 

  Goods in process inventory

 

—

 

 

 

26,000

 

 

  Finished goods inventory

 

—

 

 

 

46,000

 

 

  Accounts receivable, net

 

55,000

 

 

 

66,000

 

 

  Prepaid expenses

 

4,500

 

 

 

900

 

 

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 1.
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Exercise 18-7 Part 1.1

(1.1)

 Identify which set of numbers relates to the manufacturer.

 

$ 

$ 

$ 

 

 

 

 

$ 

 $ 

 

 

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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.

 
 
 

 

 

 

 

 

 

 

 
 
 

 

 
 
 

 
 
 

$37,550    

 
 
 

 
 
 

 

 
 
 

 
 
 

 

 
 
 

 

$7,550   

 

$ [removed]

 

$5,050   

 

 
 
 

 

 
 
 

 
 
 

 

 
 
 

 
 
 

$ [removed]

 
 
 

 
 
 

 

 
 
 

 

 

 

 

 

 

 

 

$78,050  

 

 

 

$132,050  

 

 
 
 

 

 
 
 

 

$22,550  

 

$ [removed]

 

$ [removed]

 

 
 
 

 

 
 
 

 

 

 

 

 

 

 

 

 

 

$245,600    

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$ [removed]  

 

$286,150        

 

$30,050  

 

 
 
 

 

 
 
 

 

 

 

$ [removed]

 

 

 

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