Seemore lens company (slc) sells contact lenses fob destination. for the year ended december 31, the company reported: a) inventory of $79,000 and cost of goods sold of $438,000. b) included in inventory (and accounts payable) are $11,800 of lenses slc is holding on consignment. c) included in slc’s inventory balance are $5,900 of office supplies held in slc’s warehouse. d) excluded from slc’s inventory balance are $8,900 of lenses in the warehouse, ready to send to customers on january 2. slc reported these lenses as sold on december 31, at a price of $16,800. e) included in slc’s inventory balance are $3,450 of lenses that were damaged in december and will be scrapped in january, with zero realizable value. required: prepare the table showing the balances presently reported for inventory and cost of goods sold, and then displaying the adjustment(s) needed to correctly account for each of items (), and finally determining the appropriate inventory and cost of goods sold balances. (enter any decreases to account balances with a minus sign.)

Needs 83,000 optical switches next year (assume same relevant range). by outsourcing them, worldsystems can use its idle facilities to manufacture another product that will contribute $ 140,000 to operating income, but none of the fixed costs will be avoidable. should worldsystems make or buy the switches? show your analysis.

The following account balances at the beginning of january were selected from the general ledger of fresh bagel manufacturing company: work in process inventory $0 raw materials inventory $ 28 comma 100 finished goods inventory $ 40 comma 600 additional data: 1. actual manufacturing overhead for january amounted to $ 65 comma 000. 2. total direct labor cost for january was $ 63 comma 400. 3. the predetermined manufacturing overhead rate is based on direct labor cost. the budget for the year called for $ 255 comma 000 of direct labor cost and $ 382 comma 500 of manufacturing overhead costs. 4. the only job unfinished on january 31 was job no. 151, for which total direct labor charges were $ 5 comma 200 (1 comma 300 direct labor hours) and total direct material charges were $ 14 comma 400. 5. cost of direct materials placed in production during january totaled $ 123 comma 700. there were no indirect material requisitions during january. 6. january 31 balance in raw materials inventory was $ 35 comma 300. 7. finished goods inventory balance on january 31 was $ 35 comma 400. what is the cost of goods manufactured for january?

He taylor company sells music systems. each music system costs the company $100 and will be sold to the public for $250. in year one, the company sells 100 gift cards to customers for $250 each ($25,000 in total). these cards are valid for just one year, and company officials expect them to all be redeemed. in year two, only 96 of the cards are returned. what amount of net income does the company report for year two in connection with these cards? a. $15,000b. $15,400c. $15,500d. $15,800