estion will save this respo I using: cost of good available for cost of goods sold, sales
Q: Compute(a)the cost of goods purchased and (b) the cost of goods sold
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A: Hello. Since your question has multiple parts, we will solve the first question for you. If you want…
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Q: How do I solve for the Cost Of Goods Sold?
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Q: Which of the following formulas is used to calculate the contribution margin ratio? (Sales − Fixed…
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Q: inventories at the lower of cost and net realizable value? Added to cost
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A: Introduction: Opportunity cost: Cost for the opportunity lost called Opportunity cost.
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A: Hey, since there are multiple subparts posted, we will answer the first three subparts. If you want…
Q: The revenue from the by-product is credited to the sales account. Process costs are apportioned in a…
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Q: Which of the following is the correct calculation of selling price? O a. Cost + Mark-up O b.…
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Q: How do we calculate cost of sales
A: The net sales are calculated as difference between sales and sales discounts.
Q: Prepare the statement of the cost of goods manufactured and sold in good form.
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Q: em. b. the amount of money paid for an item,
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Q: gross profit
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Q: Please check if my statement of the cost of goods manufactured and sold in good form is correct.…
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- K Which of the following is true of net sales revenue? OA It is calculated by adding sales discounts and sales retums and allowances to sales OB. It is calculated by deducting sales discounts and sales retums and allowances from sales OC. It is calculated by adding sales discounts to sales OD. It is calculated by subtracting cost of goods sold from sales MacBook ProAre net sales = Sales less?a. Sales returnsb. Sales discountsc. Sales returns & allowancesd. Sales returns & allowances and sales discountsthe way to adjust purchases in order to arrive at the cost of sales figure is to ?
- Which of the following is not a component of Net Sales?a. Sales Returns and Allowancesb. Sales Discountsc. Cost of Goods Soldd. Sales RevenueThe gross margin estimation method estimates the cost of goods sold by multiplying the costs to sales ratio by purchases. O multiplying the sales revenue by the inventory turnover ratio. multiplying the cost of goods available by the gross margin percentage. O multiplying the sales revenue by cost-to-sales ratio.What account balance is not used to computer the cost of good sold? a. Sales b. Purchased c. Purchase discount d. MerchandiseInventory
- Question 4: The difference between total sales revenue and total cost of goods sold is the Group of answer choices a Net marketing contribution b Gross marketing contribution c All of these d Trade marginDirections: Read the given sentences carefully. Select the best answer from the choices given below. Write your answer on the space provided before each item. Gains Purchases Sales Income Gross Profit Sales Discount Selling expenses Professional Fee Net Income Operating expenses Sales return Cost of Goods Sold Service Income 1. An example of service revenue. 2. The revenue generated from the sale of products. 3. It is computed by deducting the cost of sales from net sales. 4. It is used to describe revenue derived from the rendering of services. 5. A type of income derived from the other activities of the business. 6. The account used to report the acquisitions of merchandise for sale. 7. It represents the actual cost of inventories that the company was able to sell. 8. These are expenses that are directly related to the main purpose of a merchandising business 9. A contra-sales account that is used to report the amount of discount given to or taken by the customers. 10. It refers…Quèstion 14 Selling expenses DOES NOT include: OA. Making sales OB. Accounting and Human Resources expense OC. Delivering goods to customers OD. Advertising expense Quèstion 16 Net Sales are calculated using: OA. Gross sales, sales returns & allowances, sales discount OB. Gross sales, cost of good available for sale, cost of goods sold OC. Gross sales, cost of goods sold, sales expenses OD. Gross sales, cost of sales, purchases
- The objective of is to encourage the buyer to purchase in large quantities and to increase the level of sales. a. Mark-up b. Cash discount c. Trade discount d. MarginThe return of goods by a customer ( Sales Return ) should be credited in the ledger account of ? Select one: a. Sales account O b. Accounts receivable account O c. Purchase Return account O d. Sales Return account1. Net purchases equal the invoice amount and?a. plus freight-in, plus discountsb. less purchase returns, plus purchase allowancec. plus freight-in, less purchase discountsd. plus discounts, less purchase returns 2. Cost of Goods Sold is classified as which type of account?a. Assetb. Liabilityc. Revenued. Expense