Accounting Exam

Accounting Exam - Ending Inventory (40,000) Cost of Good...

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Kizzy Corporation Gabriel Mojocoa Ended September 30, 2009 Raw Material Begginig Balance 20,000 Purchase of Raw Material 100,000 Available 120,000 Ending Inventory (34,000) Raw Material Used 86,000 Work in Progress Begginig Balance 14,000 Addition Raw Material Used 86,000 Direct Labor 65,000 Overhead 164,000 Available 329,000 Ending Inventory 35,000 Cost of Good Manafacturing 294,000 Finish Goods Begging Balance 15,000 Cost of Good Manufacturing 294,000 Available 309,000
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Unformatted text preview: Ending Inventory (40,000) Cost of Good Solds 269,000 Kizzy Corporation Income Statement Ended September 30, 2009 Sales Sales 500,000 Cost of Good Sold 269,000 Gross Margin 231,000 Expenses Selling and Marketing Expenses 125,000 Administrative Expenses 50,000 General Expenses 20,000 Total Expenses 195,000 Net Income 36,000 7% Kizzy Corp. Has a gross profit of 7% for the year ended September 30, 2009....
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