# 25 may 1 price 78 cogs for 24 mugs 21 mugs left 21

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24 mugs *3.25 (May 1 price) = \$78 cogs for 24 mugs (21 mugs left)-21 mugs * 3.50 (May 7 price) = \$73.50 cogs for 21 mugsCOGS = 60 + 78 + 73.50 = 211.50\$211.50a\$225.50b\$153.75cNone of the aboveSee information for Maranello Inc. above. Using this information, the cost ofgoods sold using the perpetual average cost method is (round your answer totwo decimals)Unit cost = Total purchase value / Total no. of units purchasedStep 1: Find weighted average prior to May 3 sales: Beginning inventory 203.00 = \$60May 1 Purchase243.25= 78.00Total44= 138.00Weighted Average = Total inventory value / Total no of units availableWeighted Average = 138.00 / 44 = \$3.14Cogs for May 3 sale = 35 Mugs * \$3.14 (weighted Average) = 109.77 COGS for May 3 sale Step 2: Find weighted average prior to May 9 sales:*Calculate inventory value of remaining units (44-35) = 9 * 3.14 (weighted average)Remaining Inventory 93.14=28.26May 7 Purchase573.50=199.50Total66=227.76Weighted average = 227.76 (Total inventory value) / 66 (Total no. of units available)Weighted average = 227.76/66 = \$3.45 (Weighted average)Cogs for May 7 Sale = 30 mugs * 3.45 (weighted average) = 103.50 COGS for May 7 saleTOTAL COGS = 109.77 (May 3 sale) + 103.50 (May 7 sale) = 213.29 COGSa\$213.29b\$217.20c\$214.77dNone of the aboveModule 5 10.10.1 True-false
Indicate whether each of the following statements is true or false.TRUE - The cost of land includes its purchase price and other related costs, including thecost of removing an old unusable building that is on the land.
value.
replaceplant assets.
debitedto the accumulated depreciation account.
11.
depreciation can be taken in excess of its cost.
asset is recorded at the fair market value of the asset received or the fair market valueof the asset given up plus cash paid, whichever is more clearly evident.
deposit is included in total costs subject to depletion.
Candy purchased a machine on Jan 1 2011 for 300,000. At the time of purchase,the machine was estimated to have a life of 8 years and a residual value of 10,000. In 2015 the company determined that the machine had a total useful life of 10 years (another 6 years left) and a residual value of 20,000. If the company uses straight-line method of depreciation, what will be the depreciation expense for the machine in 2015?
Select the best answer for each of the following questions.
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