Explain Global Trading imported goods worth$50,000. Additional costs include: freight$3,000, import duty 10%, insurance $2,000,and handling $1,000. What the total cost ofinventory.

Computation of total cost of goods in addition to the additional cost particularly paid to purchase…

Answered: Global Trading imported goods worth…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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A recent income statement for BMW reports the following (in € millions). Assume 75% of the cost of sales and 75% of the selling and administrative costs are variable costs, and the remaining 25% of each is fixed. Compute the contribution margin (in € millions). (Round computations using percentages to the nearest whole euro.) Sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . €92,175 Cost of sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 74,043 Selling and administrative expenses . . . . . . . . . . . . . . . . . . . 8,633
This year, Lambert Company will ship 1,500,000 pounds of goods to customers at a cost of $1,200,000. If a customer orders 10,000 pounds and produces $200,000 of revenue( total revenue is $20million), The amount of shipping cost assigned to the customer by using ABC would be a. Unable to be determined. b.$8,000($0.80per pound shipped) c.$24, 000(2% of the shipping cost) d. $12,000(1% of the shipping cost) e. None of these
The company has these parties of goods on hand: 10x1.000 TL; 20x900 TL; 10x800 TL; 10x700 TL. If 35 items are sold with 20% profit margin (COGS +20% Profit), what is COGS and Sales Revenue in LIFO? a. COGS: 28.500 TL; Sales Revenue: 34.200 TL O b. COGS: 14.500 TL; Sales Revenue: 17.400 TL c. COGS: 11.000 TL; Sales Revenue: 13.200 TL O d. COGS: 32.000 TL; Sales Revenue: 38.400 TL
Provide Answer about this Question with Correct option
If the net operating income is $10,000, the gross margin is $40,000, and the cost of goods sold is $49,500, then the sales must be: Multiple Choice $99,500. $129,000. $89,500. $139,000.
Solve this Question with Definition
The gross profit margin of WALA company is 40%. If the gross profit is ₱332,560.00, how much is the cost of goods sold? ₱150,450.00 ₱831,400.00 ₱498,840.00 ₱182,110.00
A company with a plant in Basel can be served by bothrail and truck at a cost of €250 and €1500 per load, respectively. Thetransit time for the train is 15 days while for the truck is 5 days. (a) Ifthe daily cost of transit inventory is €100, which transportation modeis more economical attractive? (b) What will be the costs involved, ifthe daily inventory carrying cost is €50? (c) Identify related principlesneed to consider when designing a transportation system.
This year, Lambert Company will ship 1,500,000 pounds of goods to customers ata cost of $1,200,000. If a customer orders 10,000 pounds and produces $200,000 ofrevenue (total revenue is $20 million), the amount of shipping cost assigned to thecustomer by using ABC would bea. unable to be determined.b. $8,000 ($0.80 per pound shipped).c. $24,000 (2% of the shipping cost).d. $12,000 (1% of the shipping cost).e. None of these.
Abu Industries developed the following information for the product it sells: Sales price Variable cost of goods sold RM50 per unit RM28 per unit Fixed cost of goods sold Variable selling expense Variable administrative expense Fixed selling expense Fixed administrative expense RM650,000 10% of sales price RM2.00 per unit RM400,000 RM300,000 For the year ended 31 December 2020, Hasanah produced and sold 100,000 units of product. Required: (a) Illustrate a CVP income statement using the contribution margin format for Abu Industries for 2020. (b) Give the FIVE (5) basic components of CVP Analysis.
A recent income statement of Company A reported the following data: Units sold 8,000Sales revenue ₱7,200,000Variable costs ₱4,000,000Fixed costs ₱1,600,000 If the company desired to earn a target net profit of ₱480,000, it would have to sell:A. 1,200 units. B. 2,800 units. C. 4,000 units. D. 5,200 units.
If average revenue per unit is expected to be $25 and cost of goods sold are expected to be $17 per unit, how many units must be sold to breakeven on investment if the investment cost is $240,000? O 40,000 O 14,117 O 9,600 O 65,118

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Global Trading imported goods worth $50,000. Additional costs include: freight $3,000, import duty 10%, insurance $2,000, and handling $1,000. What the total cost of inventory.