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Selected income statement information for Siemens AG, a global technology company, for four fiscal years follows:
|(Euros millions)||Revenues||Cost of Godds Sold||Gross Profit||Operating Expenses||Operating Income||Other Expenses||Net Income|
Compute the gross profit margin (gross profit/sales) for each of the four years and comment on its level and any trends that are evident.
Carlberg Company has two manufacturing departments, Assembly and Painting. The Assembly department started 10,000 units during November. The following production activity unit and cost information refers to the Assembly department's November production activities.
|Assembly Department||Units||Percent of Direct Materials||Percent of Conversion|
|Beginning work in process||2,000||60%||40%|
|Units transferred out||9,000||100||100|
|Ending work in process||3,000||80||30|
Beginning work in process inventory-Assembly dept $1,581 (consists of$996 for direct materials and $585 for conversion) Costs added during the month: Direct materials$10,404 Conversion $12,285
Prepare the November 30 journal entry to record the transfer of costs from the Assembly department to the Painting department. Use the weighted-average method.
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