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lina2011 [118]
1 year ago
5

At the beginning of the year, Albertson Incorporated reports inventory of $7,700. During the year, the company purchases additio

nal inventory for $22,700. At the end of the year, the cost of inventory remaining is $9,700. Calculate cost of goods sold for the year.
Business
1 answer:
Citrus2011 [14]1 year ago
5 0

Cost of goods sold = Beginning inventory + Purchases - Ending inventory .

COGS = Cost of goods sold

COGS = 7700 + 22700 - 9700 = 20700

The total sum that your company spent on expenses directly associated with the selling of goods is known as the cost of goods sold.

The cost of products sold may take into account both the labor and materials used to create a product. Your COGS may also include sales expenses, such as commissions, that are unique to that product. Direct costs is the accounting term for this.

A cost that is not entirely committed to a particular item is one that is common to your company, such as rent, the purchase of a new machine, or general marketing expenses. These extra expenses are classified as overhead rather than as the cost of the items supplied.

For business owners and managers, tracking cost of products sold is crucial. That is the lowest price at which you can sell a good and still make a profit. Any surplus margin is used to pay for costs and eventually turn a profit. You cannot determine if you are profitable or not unless you are aware of your COGS and break-even point.

Learn more about cost of goods sold here

brainly.com/question/17205761

#SPJ4

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Which of the following is true if the volume of sales increases​ (within a relevant​ range)? A. total fixed cost increases B. to
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Answer:

C. total variable cost increases

Explanation:

Fixed cost, as the name states, do not change with a variation on production output, therefore an increase in the sales volume does not change the fixed cost. Meanwhile, variable cost is the cost associated with the production of each unit, and thus depends on the sales volume. An increase in the volume of sales leads to an increase in total variable cost.

Therefore, the answer is C.

4 0
3 years ago
World-class performance measures can be used in different functional areas of a firm to satisfy objectives, enhance the value of
Snezhnost [94]

Answer:

The correct answer is the option D: All of these above.

Explanation:

To begin with, in the field of business worldwide it is very common for the big companies to use performance measures in order to see how they are doing and to see how the competitors are doing so that they can predict future actions and it also help them to take better management decisions. Moreover, all of that is possible due to the provision of those measures in the most important areas of the company, such as the quality department, the cost department and the customer service department. The measures must be measured in all of those ares because the combination of all of them together makes it easier to take decisions that affects the company in its whole and not only in the departments.

6 0
2 years ago
Which of the following is not regulated by the FTC? a. content accuracy b. celebrity endorsements c. performance claims d. expre
8_murik_8 [283]

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a. content accuracy

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I hope you find this information useful and interesting! Good luck!

7 0
3 years ago
Brady Furniture purchased​ land, paying $ 80 comma 000 cash and signing a $ 320 comma 000 note payable. In​ addition, Brady paid
emmainna [20.7K]

Answer:

Land                         407,000

Building                   750,000

Land improvements  77,000

The company will depreicate the buildign and the land improvements

But, not the land as it doesn't suffer from the past of time.

<u>Questions:</u>

Value of the assets

and which assets will the company depreciate.

Explanation:

The demolition of the old buildign should be considered cost of the period. As no asset is improved or acquire for that event.

<u>Land:</u>

 80,000 cash

320,000 note payable

    3,000 deliquient property tax

<u>     4,000</u> insurance costing

407,000 total land

<u>Building:</u>

cost: 750,000

<u>Land Improvements:</u>

fence                  55,000

sing at entrance 15,000

lighthing           <u>     7,000    </u>

TOTAL                  77,000

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Telecommunication is an important tool for businesses. It enables companies to communicate effectively with customers and deliver high standards of customer service. Telecommunication is also a key element in teamwork, allowing employees to collaborate easily from wherever they are located

7 0
3 years ago
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