What is the purpose of the Statement of Cost of Goods Manufactured a to determin

Question

What is the purpose of the Statement of Cost of Goods Manufactured a to determine the ending materials inventory b. to determine the ending work in process inventory to determine the a all of the answers are true d. 30. Period costs inclade a current assets on the balance sheet b. carrent liabilities on the bolance sheet c. operning costs that are shoun on the income statement when products operting costs that are shown on the incone statement in the period i incurred are sold n which they are d 31. Which types of inventories does a manufacturing business report on the balince sher a. Finished goods inventory and work in process inventory b. Direct materials inventory and work in process inventory Direct materials inventory, work in process inventony d Direct materials inventory and finished goods inventory and finished goods inventory 32. If fixed costs are $250,000, the unit selling price is $125, and the unit variable costs are $73, what the break-even sales(units? a. 3,425 units b. 2.381 units c. 2,000 units d. 4,808 units 13, The point where the sales lince and the total costs line intersect on the cost-volume-profit chart represents a. the maximum possible operating loss h. the maximum possible operating income c the total fixed costs d the break -even point 34. The first budget customarily prepared as part of an cntity's master budget is the b c d production budget cash budget sales budget dinect materials purchases 35 Manapril accounting a is prepared according to GAAP dis clated to the tire ss nity only

Explanation / Answer

29. Option.D all the above are correct

30. Option.D operating costs that are shown on the income statement in the period incurred such as rent, insurance, interest expense which generally charged to income statement along with the passage of time.

31. Option C. Direct material, WIP plus finished goods inventory

32. Option D. 4808 units is correct

33. Option d. the break even point

34. Option c. sales budget

35.b. as per management needs

Particulars Per unit Sales 125.00 Less: variable cost 73.00 Contribution 52.00

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