A wholesaler has obtained a consignment of dates worth RM 6,000 from a supplier. The manager is considering on the selling price to his distributors using two options. Option 1 is a 20% markup based on cost price and Option 2 is based on 20% markup based on retail price. a) Find the retail price based on Option 1 b)Find the retail price based on Option
Q: Activity Cost Pool Maintenance Materials Handling Setups Inspection Order processing Customer…
A: The activity costing method is used to apply overhead cost to different activities on the basis of…
Q: Foremost Footwear Inc. Product-Line Income Statement For the Year Ended April 30, 20Y7 Children's…
A: If a segment is discontinued then only variable costs can be ignored but fixed costs can not be…
Q: Maria Company produces five products A, B, C, D, E and F with the following characteristics. The…
A: Break-even point is a level where company neither have profit nor loss. It is a no profit - no loss…
Q: Coronado Company prepares monthly cash budgets. Relevant data from operating budgets for 2022 are as…
A: The Schedule of expected collections from customers shows the cash collected from customers in each…
Q: Unit VI question 4
A: Lets understand the basics. Contribution margin is a sales less variable cost of the company.…
Q: teddy’s Pillow’s had beginning net fixed assets of $461 and ending net fixed assets of $530. Assets…
A: The net amount spent by a corporation to acquire fixed assets over a period of time is referred to…
Q: In 2021, Ben purchases and places in service a new auto for his business. The auto costs $57,000 and…
A: Introduction Section 179 allows tax payers to expense the acquisition cost of certain properties,…
Q: You are required to prepare the Account Sales and the necessary Journal entries and Ledger accounts…
A: The question pertains to goods sent of consignment basis by Sadhan Sen of Sodepur to Biren Bose of…
Q: Sam Ltd owns a piece of vacant land in Broadmeadows. A substantial number of factory owners…
A: Under the fair value model, the assets are recorded at their current market value.
Q: Unit VI question 6
A: The process of estimating and analyzing an institution's margin of safety based on collected…
Q: Debit Credit Cash $31,000 Accounts Receivable 7,400 Prepaid Insurance 21,000 Accounts Payable…
A: Working capital refers to Difference between Total; Current Assets and Total Current Liabilities. It…
Q: n Pennsylvania, state sales tax is used to pay for services provided by the state. TI sales tax…
A: Sales tax is calculated on the "cost of purchase". Such cost should be before any sales tax.
Q: Makati Inc. acquires a building on February 1, 2020 at a cost of 5,500,000. The building has an…
A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…
Q: Complete the common-size income statement below: Common-Size Income Statement 2016 Revenues $ 29,970…
A: Formula: Formula: Revenues % = ( Revenues value / Revenues value ) x 100
Q: Tax law contains a two-pronged system for taxing the US source income of foreign persons. Briefly…
A: under the domestic law of USA if the non-descident in the united state is for 90 days or less than…
Q: Q/ A contractor bought a construction mechanism at a price of $80,000. Records indicate that the…
A: Cost of Machine = $ 80,000 Useful life = 6 years Salvage value = $ 10,000 1. Straight Line Method…
Q: What is the consolidated amount of machinery on December 31, 20x1? ans. 500,000 2. What is the…
A: Answer:
Q: Campbell Corporation uses the retail method to value its inventory. The following information is…
A: The cost to retail ratio is calculated as goods available for sale at cost divided by goods…
Q: 1. Jammy Company developed the following information about its inventories in applying lower of cost…
A: The lower cost or market method is related to inventory valuation. The inventory is recognized in…
Q: Determine which of the following two alternatives is the most efficient and which is the most…
A: Internal Rate of Return: When estimating the profitability of possible investments, the internal…
Q: $45,300, 7-month, 6% note dated October 31, 2021 with Q Tile LLC. All of the note's interest is due…
A: Notes receivable are claims for which formal instruments of credit, such as a promissory note, are…
Q: what causes the bond liability for a bond issued at a premium to decrease each interest payment…
A: Bond premium is the premium which has been received by the company who has issued the bond by way of…
Q: Markup and margin as percentages are equal. O True O False
A:
Q: Perform a horizontal analysis and put the correct answer in the appropriate blocks for only these…
A: Horizontal analysis is used in the financial statement analysis. it is used for identifying the…
Q: Sheffield Landscaping began construction of a new plant on December 1,2020. On this date, the…
A: An asset is not just valued at the amount paid to acquire it but all the expenses that incur with…
Q: Journalize the following merchandise transactions. The company uses the perpetual inventory system.…
A:
Q: Calculate the proprietary ratio from the following information: Fixed Assets 12,80,000 Current…
A: Calculation of Proprietary Ratio Proprietary Ratio = Shareholders' Funds/ Total Assets Proprietary…
Q: Flora Inc. reported the following information: Net income: $640,000 Depreciation expense: $79,000…
A: Introduction: Statement of cash flows: All cash in and out flows are shown in cash flow statements.…
Q: 24 Received an invoice for repairs on car and paid P4,500. 25 Paid utilities expense, P1,750. 26…
A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…
Q: A Seller accepts her offer on her home for 60,000. At the time of the offer, a 2,000 earnest money…
A: total money he will be received 60000
Q: Unit VIII question 7
A: The variance is the difference between the standard production dat and actual production costs…
Q: La Barte Company manufactures commuter bicycles from recycled materials. The following data for July…
A: standard costing is used in cost accounting to major the standard and actual result and any…
Q: Dec. 31, 20Y2 Dec. 31, 20Y1 Accounts receivable $30,000 $29,200 Inventory 75,800 76,500 Accounts…
A: Cash Flow Statement (Indirect Method) For the year ended December 31, 20Y2 Cash Flow from…
Q: What should Rob Cushman do about the two items described in the Remaining Issues section of the…
A: Under the current system, distinguishing between controllable and uncontrollable elements is…
Q: 1. Net income was $52,000. 2. A gain of $9,000 was recorded on the disposal of a small parcel of…
A: Statement of Cash flows:- It is the statement that records the movement of cash inflows and outflows…
Q: Hudson Company reports the following contribution margin income statement. HUDSON COMPANY…
A: Decrease in sales ( units ) = 9,600 units x 5% = 480 units New sales ( units ) = 9,600 units - 480…
Q: Outline three(3) accounting practices with there underline reasons?
A: Accounting practice is the process and activity of recording the day-to-day financial operations of…
Q: your sister bought a condominuim unit for 9,300,000 peso through a condominium loan which she avaied…
A: The monthly amortization is the payment that has to be paid or received at the end of every month.
Q: Virginia has business property that is stolen and partially destroyed by the time it was recovered.…
A: The book value of Property = 14,000 $ loss in the book value = 10,000 $ New book value = 4,000$…
Q: Activity Machin Number Number Direct la
A: Plantwide Overhead rate is equal to Total Budgeted Overhead divided by Total direct labour hours.
Q: The cash flow associated with a stripper oil well is expected to be $4,000 in month one, $3,925 in…
A: The question is based on the concept of Financial Management. Annuity refers to the series of…
Q: The Administrative Procedure Act requires Federal Agencies to follow certain procedures to make…
A: The Administrative Procedure Act, which was passed in 1946, specifies how federal agencies may make…
Q: The semiconductor business of the Calfornia Microtech Corporation qualities as a component of the…
A: Introduction Income from continuing operations accounts for income from regular business activity,…
Q: A company currently in the 3rd month of a 2 year project. The financial committee would like to have…
A: The correct answer for the above mentioned question is given in the following steps for your…
Q: Bertra Саpital Coloma, Capital 160,000 The articles of partnership stipulate that profits and losses…
A: The question is related to Partnership Accounting. The details for the same is given.
Q: Teresa's manufacturing plant is destroyed by fire. The plant has an adjusted basis of $270,000, and…
A: A realized gain on the involuntary conversion of property occurs when the taxpayer receives the…
Q: During 2021, Melanie Company has the following activities related to its financial operations:…
A: Statement of cash flow is the statement in which cash flow is presented and classified under three…
Q: 3. What is the investment in Two Company common stock at year-end? 4. What is the recovery of…
A: On December 31, 2020, Dreamer Company reported as Available-for-sale securities: Particulars Qty…
Q: Unit VIII QUESTION 6
A: The variance is the difference between standard data and actual production results. The labor…
Q: The following various elements relate to Whitfield, Inc.'s cash budget for April of the current…
A: Budgeting is an important function to be carried out by every enterprise as a part of their decision…
A wholesaler has obtained a consignment of dates worth RM 6,000 from a supplier. The
manager is considering on the selling price to his distributors using two options. Option
1 is a 20% markup based on cost price and Option 2 is based on 20% markup based on
retail price.
a) Find the retail price based on Option 1
b)Find the retail price based on Option 2
Step by step
Solved in 2 steps
- Using the guidance from ASC 606, calculate the variable price for each of the following contracts with customers. Also, identify the method used and the rationale. Customer A: Customer B: Possibility Probability (%) Price (USD) Possibility Probability (%) Price (USD) A 50 26.50 A 55 26.50 B 20 24.00 B 45 24.00 C 20 25.25 D 10 28.00Buyer A bought 20 pcs of product Z from Seller B with the following information: Selling price, P1,500 each. With terms 20,10,5/15/ n/30. Transport cost is P10 per unit. If the payment is made on the 20th day.1. how much will Buyer A pay the seller when the term is FOB Destination Prepaid?2. how much will Buyer A pay the seller when the term is FOB Shipping Point Prepaid?3. how much will Buyer A pay the seller when the term is FOB Destination Collect?An investor purchases 1,000 XYZ at $60. After XYZ increases to $80, the investor would like to protect the profit on this investment. Which of the following orders would be most suitable? Sell stop at $79.75 Sell stop at $80.25 Sell limit at $75 Sell limit at $85.
- ABC company offers an item for RM 300 less 20% whilst XYZ company offers the same item for RM 320 less 40%. Find i. the net prices of the item offered by the two shops. ii. the further discount percentage that must be offered by the shop that sells at a higher net price in order to meet the competitor’s price.# You can buy a product from one of three companies. Company A for $3,200 with a trade discount of 30%, Company B for $2,900 with a trade discount of 20% and 10%, or Company C for $3,450 with a trade discount of 20%, 15%, 5%. Which company has the lowest net price?A wholesaler gives trade discounts 30%, 11% and 3% to his regular customers.a) Find the single discount equivalent to the given trade discounts.b) If the list price of an item is RM320, find the net price.
- You place an order for 1,100 units of Good X at a unit price of $48. The supplier offers terms of 3/30, net 40. How quickly must you pay to get the discount? b-3. If you do take the discount, how much should you remit? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) c-1. If you don’t take the discount, how much interest are you paying implicitly? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)buying and sellingABC Company offers to fill an order for goods at P 25,800.00 less 25% and 25 %, terms n/30. On the other hand, XYZ Corporation offers P 25,000.00 less 35%, 3%, and 2%, terms 8/10, n/30: on the same order. Assuming that Mr Cruz will pay cash, which is the better offer?Home Depot wants to buy a new line of fertilizers. Manufacturer A offers a 21/11 chain discount. Manufacturer B offers a 26/10 chain discount. Both manufacturers have the same list price. a. What is the percentage of discount for both manufacturers? (Do not round intermediate calculations. Round your final answers to the nearest hundredth percent.) Percentage of Discount Manufacturer A Manufacturer B es b. What manufacturer should Home Depot buy from? Manufacturer B Manufacturer A Prev 6 of 15 Next > M
- Or it can expressed as the investor sells goods to the associate for 65,000 (selling price), the selling price includes a mark up on cost of 30%. Profit made by seller= 65,000 * 0.3/1+0.3= 15,000 My instructor told me that in order to solve this problem, I need to convert the markup into the gross profit and then multiply it by the selling price. I didn’t get the idea of converting the markup into GP. Refering to the question, that is 0.3/1+0.3. If possible, please analyse this bit. That is all I need ThanksA merchant has an annual demand for a product of 500 items. He buys from a supplier at a cost of $5 per item and the cost of ordering is $10 per order. The inventory holding costs are 20% p. a. of stock value. If the supplier offers a 5% discount on orders of between 400 and 799 items, and a 10% discount on orders of 800 or more. Can the merchant reduce his costs by taking advantage of either of these discounts?You place an order terms of 2/25, net 45. 000 units of Good X at a unit price of $47. The supplier offers a-1. How long do you have to pay before the account is overdue? a-2. If you take the full period, how much should you remit? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) b-1. What is the discount being offered? (Enter your answer as a percent.) b-2. How quickly must you pay to get the discount? b-3. If you do take the discount, how much should you remit? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) c-1. If you don't take the discount, how much interest are you paying implicitly? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) c-2. How many days' credit are you receiving? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)