Using the information below, calculate cost of goods sold for the period: Sales revenues for the period$1,304,000 Operating expenses for the period 239,000 Finished Goods Inventory, January 1 36,000 Finished Goods Inventory, December 31 41,000 Cost of goods manufactured for the period 540,000
A. $530,000.
B. $448,000.
C. $535,000.
D. $774,000.
E. $769,000.
Answer: C
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Which factor has been associated with the decline in union membership?
A. high regulation in such areas as workplace safety and equal employment opportunity B. low competition between companies for scarce human resources C. low costs of unionized labor D. low prospects for growth in the service industry E. high job growth in the manufacturing sector of the economy
A well written heading allows the reader to understand the heading without reading the support material
Indicate whether the statement is true or false.
Bill goes to First Bank to get a loan. He signs a note and agrees to repay the bank. What is the legal term for Bill's status regarding the note?
a. Payee. b. Maker. c. Payor. d. Drawer.
The following information is from the 2017 records of Robin Antique Shop
Accounts receivable, December 31, 2017 $44,000 (debit) Allowance for Bad Debts, December 31, 2017 prior to adjustment 1,100 (debit) Net credit sales for 2017 176,000 Accounts written off as uncollectible during 2017 11,000 Cash sales during 2017 27,000 Bad debts expense is estimated by the percent-of-sales method. Management estimates that 5% of net credit sales will be uncollectible. The ending balance of the Allowance for Bad Debts account after adjustment will be ________. A) $9,900 B) $9,050 C) $11,250 D) $7,700