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Mont Retail Stores Essay

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2-30 (20 min.) Cost of goods purchased, cost of goods sold, and income statement.

1a. Montgomery Retail Outlet Stores
Schedule of Cost of Goods Purchased
For the Year Ended December 31, 2011
(in thousands)

Purchases | | $260,000 |
Add freight—in | |     10,000 |
| | 270,000 |
Deduct: | | |
Purchase returns and allowances | $11,000 | |
Purchase discounts |     9,000 |     20,000 |
| | |
Cost of goods purchased | | $250,000 |

1b. Montgomery Retail Outlet Stores
Schedule of Cost of Goods Sold
For the Year Ended December 31, 2011
(in thousands)

Beginning merchandise inventory 1/1/2011 | $   45,000 |
Cost of goods purchased (see above) |   250,000 |
Cost of goods available for sale | 295,000 |
Ending merchandise inventory 12/31/2011 |     52,000 |
Cost of goods sold | $243,000 |

2. Montgomery Retail Outlet Stores
Income Statement
Year Ended December 31, 2011
(in thousands)

Revenues | | $320,000 |
Cost of goods sold (see above) | |   243,000 |
Gross margin | | 77,000 |
Operating costs | | |
Marketing and advertising costs | $24,000 | |
Building depreciation | 4,200 | |
Shipping of merchandise to customers | 2,000 | |
General and administrative costs |   32,000 | |
Total operating costs | |     62,200 |
Operating income | | $   14,800 |



2-31 (20 min.) Flow of Inventoriable Costs.

(All numbers below are in millions).

1.
Direct materials inventory 10/1/2011 $       105
Direct materials purchased         365
Direct materials available for production       470
Direct materials used       (385)
Direct materials inventory 10/31/2011 $         85

2.
Total manufacturing overhead costs $       450
Subtract: Variable manufacturing overhead costs       (265)
Fixed manufacturing overhead costs for October 2011 $       185

3.
Total manufacturing costs $   1,610...

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"Mont Retail Stores". Anti Essays. 19 Dec. 2018

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APA Citation

Mont Retail Stores. Anti Essays. Retrieved December 19, 2018, from the World Wide Web: http://parimatch-stavka7.com/free-essays/Mont-Retail-Stores-528624.html


Vedi Prodotto | Jerry Hausner | The Equalizer 2 (2018)