Presented below is information related to Novak Corporation for the current year. Beginning inventory $ 607,100 Purchases 1,484,500 Total goods available for sale $2,091,600 Sales revenue 2,530,000 Compute the ending inventory, assuming that (a) gross profit is 49% of sales, (b) gross profit is 60% of cost, (c) gross profit is 37% of sales, and (d) gross profit is 25% of cost. (Round ratios for computational purposes to 1 decimal place, e. g. 78.7% and final answers to 0 decimal places, e. g. 28,987.) Ending Inventory (a) Gross profit is 49% of sales $ 1239700 (b) Gross profit is 60% of cost $ (c) Gross profit is 37% of sales $ 936100 (d) Gross profit is 25% of cost

The plastic flowerpots company has two manufacturing departments, molding and packaging. at the beginning of the month, the molding department has 2,100 units in inventory, 70% complete as to materials. during the month, the molding department started 18,500 units. at the end of the month, the molding department had 3,150 units in ending inventory, 80% complete as to materials. units completed in the molding department are transferred into the packaging department. cost information for the molding department for the month follows: beginning work in process inventory (direct materials) $ 1,300 direct materials added during the month 28,900 using the weighted-average method, compute the molding department's (a) equivalent units of production for materials and (b) cost per equivalent unit of production for materials for the month. (round "cost per equivalent unit of production" to 2 decimal places.)

Scenario: you have advised the owner of bond's gym that the best thing to do would be to raise the price of a monthly membership. the owner wants to know what may happen once this price increase goes into effect. what will most likely occur after the price of a monthly membership increases? check all that apply. current members will pay more per month. the quantity demanded for memberships will decrease. the number of available memberships will increase. the owner will make more money. bond's gym will receive more membership applications.

At the end of the current year, accounts receivable has a balance of $550,000; allowance for doubtful accounts has a credit balance of $5,500; and sales for the year total $2,500,000. an analysis of receivables estimates uncollectible receivables as $25,000. determine the net realizable value of accounts receivable after adjustment. (hint: determine the amount of the adjusting entry for bad debt expense and the adjusted balance of allowance of doubtful accounts.)