What is the food inventory turnover for 2020? The Robot Lounge's beginning and ending inventory for 2020 are $22,000 and $15,000, respectively. Activities during 2020 were: Food purchase is $ 44,000. Employee meals are $ 8,00O. Promotion meals are $ 8,500. Food sales is $ 1,200,000. Please use 365 days per year, 31 days per month calendar.
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- What is the food inventory turnover for 2020? The Robot Lounge's beginning and ending inventory for 2020 are $22,000 and $15,000, respectively. Activities during 2020 were: Food purchase is $ 44,000. Employee meals are $ 8,000, Promotion meals are $ 8,500. Food sales is $ 1,200,000. Please use 365 days per year, 31 days per month calendar. O 1.42 O 1.2 1.86 O 0.98 O 1.65Show the solution in good accounting form The home office bills its branch at 40% above cost. During the year 2020, goods costing 150,000 were shipped to the branch. The account allowance for overvaluation of branch inventory, after adjustment, shows a balance of P25,000 at the end of the year. Compute the amountof ending inventory at: a. Cost and b. Billed PricePresented below is information for Chivu Company for the month of March 2020: Cost of goods sold s50,000 Salaries and wages Expense S8,000 Sales Revenue Freight-out 7.000 as0,000 Sales Returns and Allowances interest Expense 4,000 3,000 Required: Prepare a multiple-step income statement for the month of March by completing the following Salaries and wages Expense Operating Expense Total Operating Expense
- Presented below is information for Chivu Company for the month of March 2020 Cost of goods sold S50,000 Salaries and wages Expense s8,000 Freight-out 7,000 Sales Revenue is0,000 Interest Expense Sales Returns and Allowances 4,000 3,000 Required: Prepare a multiple-step income statement for the month of March by completing the following Salaries and wages Expense Operating Expense Total Operating ExpenseHawthorne Wipes sells sanitizing wipes. They started 2020 with 6,000 packs of wipes, the cost of each being $15. Merchandise transactions for the month of January 2020 are as follows: Purchases Unit Cost $12 Total Cost $96,000 Date Units 8,000 1/5/18 1/8/18 4,000 $14 $56,000 1/15/18 10,000 $17 S170,000 1/23/18 3,000 $33,000 Totals 25,000 $355,000 Sales Date Units 1/6/18 2,000 1/14/18 6,000 1/20/18 3,000 Total 11,000 Assuming a weighted-average perpetual inventory approach, calculate January's Cost of Goods Sold.Following are the details of spending pattern for a customer. Calculate the customer's past customer value based on a discount rate of 1.25% per month. January February March Purchase Amount 800 50 50 ($) Gross Contribution 240 15 15 (GC) O 350 O 290.5 300 O 276. 2
- Haala Inc. is a merchandising company. Last month the company's cost of goods sold was $68,000. The company's beginning merchandise inventory was $11,000 and its ending merchandise inventory was $17,000. What was the total amount of the company's merchandise purchases for the month? Question 20 options: $96,000 $62,000 $68,000 $74,000Case 2:Muscat Tubes Manufacturing LLC are the manufacturer of picture tubes for T.V. The following are the details of their operation during 2019. Rate of consumption per week is 200 units for Muscat Tubes Manufacturing LLC. Company estimated inventory carrying cost at 20% per annum. The ordering cost per order is RO 100. The cost incurred for purchasing a tube is RO 500. The rate of consumption per week is 100 to 300 units and lead time to supply is 6 to 8 weeks. During emergency purchase the lead time is 2 weeks.Calculate the following: a. Reorder levelb. Maximum level of stockc. Minimum level of stockd. Average level of stocke. Danger LevelLangstons purchased $3,100 of merchandise during the month, and its monthly income statement shows a cost of goods sold of $3,000. What was the beginning inventory if the ending inventory was $1,250?
- Amusement tickets estimated sales are: What are the balances in accounts receivable for April, May, and June if 60% of sales are collected in the month of sale, 30% are collected the month after the sale, and 10% are collected the second month after the sale?Drainee purchases direct materials each month. Its payment history shows that 65% is paid in the month of purchase with the remaining balance paid the month after purchase. Prepare a cash payment schedule for January using this data: in December through February, it purchased $22,000, $25,000, and $23,000 respectively.Logo Gear purchased $2,250 worth of merchandise during the month, and its monthly income statement shows cost of goods sold of $2,000. What was the beginning inventory if the ending inventory was $1,000?