Use the following data from Mayonnaise Manufacturing Co. to identify the revenues from sales of finished goods for the year. Manufacturing Finished Goods Raw Materials Ovherhead WIP Inventory Inventory Cost of Goods Sold 10,000 125,000 5,000 80,000 120,000 150,000 150,000 130,000 130,000 150,000 30,000 30,000 45,000 60,000 35,000 110,000 20,000 130,000 O Cannot be determined from the information provided a. $150,000 b. $150,000 c. $130,000 d. $25,000

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08-12-2022
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Use the following data from Mayonnaise Manufacturing Co. to identify the revenues from sales of finished goods for the year. Manufacturing Finished Goods Raw Materials Ovherhead WIP Inventory Inventory Cost of Goods Sold 10,000 125,000 5,000 80,000 120,000 150,000 150,000 130,000 130,000 150,000 30,000 30,000 45,000 60,000 35,000 110,000 20,000 130,000 O Cannot be determined from the information provided a. $150,000 b. $150,000 c. $130,000 d. $25,000

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The revenue from sales of finished goods a. Cannot be determined from the information provided.

Revenue is the amount of money a company receives in exchange for its goods and services, or, put another way, the cost a customer pays for a company's goods or services.

The revenue of a corporation is often shown as revenue, sales, net sales, or net revenue on the first line of the income statement.

Calculating revenue is as simple as multiplying the total number of units sold by the selling price.

We are unable to determine the revenue for Mayonnaise Manufacturing Co. because neither the price nor the number of units sold are provided. Revenue could be estimated if the gross profit and the cost of products sold were also accessible, but neither are.

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