Homework Answers
| List price per unit | 500 | |||
| Less: Trade discount @30% | 150 | |||
| Net price | 350 | |||
| Add: Freight paid per unit | 7 | |||
| Total Purchase price | 357 | |||
| Answer is $ 357 | ||||
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55-16 Sowed Help Save & Exit TB MC Qu. 04-102 Jasper Company is a wholesaler that......
Jasper Company is a wholesaler that buys merchandise in large quantities. Its supplier’s catalog indicates a...
Jasper Company is a wholesaler that buys merchandise in large quantities. Its supplier’s catalog indicates a list price of $500 per unit on merchandise Jasper intends to purchase, and offers a 30% trade discount for large quantity purchases. The cost of shipping for the merchandise is $7 per unit. Jasper’s total purchase price per unit will be:
TB MC Qu. 04-107 A company purchased... A company purchased $2,200 of merchandise on July 5...
TB MC Qu. 04-107 A company purchased... A company purchased $2,200 of merchandise on July 5 with terms 3/10,n/30. On July 7, it returned $240 worth of merchandise. On July 8, it paid the full amount due. The amount of the cash paid on July 8 equals: $240. $1894. $1,901. $1,960 $2200
Help Save & Exit TB MC Qu. 07-115 Giorgio Italian Market bought... Giorgio Italian Market bought...
Help Save & Exit TB MC Qu. 07-115 Giorgio Italian Market bought... Giorgio Italian Market bought $10,800 worth of merchandise from Food Suppliers and signed a 60-day, 7% promissory note for the $10,800. Food Supplier's journal entry to record the sales transaction is
TB MC Qu. 04-38 What type of account is the... Nhat type of account is the...
TB MC Qu. 04-38 What type of account is the... Nhat type of account is the Cost of Goods Sold account? Multiple Choice Contra asset Asset Liability Expense "BMC Qu. 04-51 Anchor Company sold merchandise with a cost... Anchor Company sold merchandise with a cost of $560 to a customer for $890 on account. Due to an error, this sale was never recorded in the accounting records. What effect will the failure to make the necessary entries have on the...
Ch 14 Help Save & Exit Sub TB MC Qu. 14-132 A manufacturing company has... A...
Ch 14 Help Save & Exit Sub TB MC Qu. 14-132 A manufacturing company has... A manufacturing company has a beginning finished goods inventory of $29,000, cost of goods manufactured of $59,200, and an ending finished goods inventory of $28,300. The cost of goods sold for this company is: Multiple Choice ( $116,500 0 $58,500 O $1,900 0 O $87,500 $59,900. < Prev 4 of 10 !!! Next >
Chapter 12 Quiz 0 Seved Help Save & Exit Submit TB MC Qu. 12-59 Lusk Corporation...
Chapter 12 Quiz 0 Seved Help Save & Exit Submit TB MC Qu. 12-59 Lusk Corporation produces and sells ... Lusk Corporation produces and sells 15,300 units of Product X each month. The selling price of Product X is $23 per unit, and variable expenses are $17 per unit. A study has been made concerning whether Product X should be discontinued. The study shows that $74,000 of the $103.000 in monthly fixed expenses charged to Product X would not be...
TB MC Qu. 4-29 The Minton Company has gathered the following... The Minton Company has gathered...
TB MC Qu. 4-29 The Minton Company has gathered the following... The Minton Company has gathered the following information for a unit of its most popular product: S 10 Direct materials Direct labor Overhead (40% variable) Cost to manufacture Desired markup (50%) Target selling price The above cost information is based on 4,400 units. A foreign distributor has offered to buy 1,400 units at a price of $20 per unit. This special order would not disturb regular sales. Variable shipping...
TB MC Qu. 04-07 Foote Company wes granted a purchase... Foote Company wes granted a purchase...
TB MC Qu. 04-07 Foote Company wes granted a purchase... Foote Company wes granted a purchase discount of $200 on merchandne the company had purchased a few deys ago Foote uses the perpetual invertory system Which of the following efects the effects of this event on the feencial stements Stk. Stat of Asset Linh. Rev. Met Ine. Euity Cash Flows A. NA (200) 200 200 NA NA 200 OA EA cao0) 200 200 200 NA C. (200) (200) NA SIA...
Exercise #1 and #2. Good feedback. Exercise 1. Fragment Company is a wholesaler that sells merchandise...
Exercise #1 and #2. Good feedback.
Exercise 1. Fragment Company is a wholesaler that sells merchandise in large quantities. Its catalog indicates a list price of $300 per unit on a particular product and a 40% trade discount is offered for quantity purchases of 50 units or more. The cost of shipping the merchandise is $7 per unit under terms FOB shipping point. If a customer purchases 100 units of this product, what is the amount of sales revenue that...
TB MC Qu. 25-101 Logan Company can sell all of the standard... Logan Company can sell...
TB MC Qu. 25-101 Logan Company can sell all of the standard... Logan Company can sell all of the standard and premier products they can produce, but it has limited production capacity. It can produce 6 standard units per hour or 4 premier units per hour, and it has 36,000 production hours available. Contribution margin per unit is $24 for the standard product and $30 for the premier product. What is the total contribution margin if Logan chooses the most...
TB MC Qu. 04-107 A company purchased... A company purchased $2,200 of merchandise on July 5 with terms 3/10,n/30. On July 7, it returned $240 worth of merchandise. On July 8, it paid the full amount due. The amount of the cash paid on July 8 equals: $240. $1894. $1,901. $1,960 $2200
Help Save & Exit TB MC Qu. 07-115 Giorgio Italian Market bought... Giorgio Italian Market bought $10,800 worth of merchandise from Food Suppliers and signed a 60-day, 7% promissory note for the $10,800. Food Supplier's journal entry to record the sales transaction is
TB MC Qu. 04-38 What type of account is the... Nhat type of account is the Cost of Goods Sold account? Multiple Choice Contra asset Asset Liability Expense "BMC Qu. 04-51 Anchor Company sold merchandise with a cost... Anchor Company sold merchandise with a cost of $560 to a customer for $890 on account. Due to an error, this sale was never recorded in the accounting records. What effect will the failure to make the necessary entries have on the...
Ch 14 Help Save & Exit Sub TB MC Qu. 14-132 A manufacturing company has... A manufacturing company has a beginning finished goods inventory of $29,000, cost of goods manufactured of $59,200, and an ending finished goods inventory of $28,300. The cost of goods sold for this company is: Multiple Choice ( $116,500 0 $58,500 O $1,900 0 O $87,500 $59,900. < Prev 4 of 10 !!! Next >
Chapter 12 Quiz 0 Seved Help Save & Exit Submit TB MC Qu. 12-59 Lusk Corporation produces and sells ... Lusk Corporation produces and sells 15,300 units of Product X each month. The selling price of Product X is $23 per unit, and variable expenses are $17 per unit. A study has been made concerning whether Product X should be discontinued. The study shows that $74,000 of the $103.000 in monthly fixed expenses charged to Product X would not be...
TB MC Qu. 4-29 The Minton Company has gathered the following... The Minton Company has gathered the following information for a unit of its most popular product: S 10 Direct materials Direct labor Overhead (40% variable) Cost to manufacture Desired markup (50%) Target selling price The above cost information is based on 4,400 units. A foreign distributor has offered to buy 1,400 units at a price of $20 per unit. This special order would not disturb regular sales. Variable shipping...
TB MC Qu. 04-07 Foote Company wes granted a purchase... Foote Company wes granted a purchase discount of $200 on merchandne the company had purchased a few deys ago Foote uses the perpetual invertory system Which of the following efects the effects of this event on the feencial stements Stk. Stat of Asset Linh. Rev. Met Ine. Euity Cash Flows A. NA (200) 200 200 NA NA 200 OA EA cao0) 200 200 200 NA C. (200) (200) NA SIA...
Exercise #1 and #2. Good feedback.
Exercise 1. Fragment Company is a wholesaler that sells merchandise in large quantities. Its catalog indicates a list price of $300 per unit on a particular product and a 40% trade discount is offered for quantity purchases of 50 units or more. The cost of shipping the merchandise is $7 per unit under terms FOB shipping point. If a customer purchases 100 units of this product, what is the amount of sales revenue that...
TB MC Qu. 25-101 Logan Company can sell all of the standard... Logan Company can sell all of the standard and premier products they can produce, but it has limited production capacity. It can produce 6 standard units per hour or 4 premier units per hour, and it has 36,000 production hours available. Contribution margin per unit is $24 for the standard product and $30 for the premier product. What is the total contribution margin if Logan chooses the most...
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