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Karolina [17]
3 years ago
14

(1 pt.) Bell, Inc. buys 1,000 computer game CDs from a distributor who is discontinuing those games. The purchase price for the

lot is $8,000. Bell will group the CDs into three price categories for resale, as indicated below: Group No. of CDs Price per CD 1 100 $5 2 800 10 3 100 15 Instructions: Determine the cost per CD for each group, using the relative sales value method. CDs
Business
1 answer:
natali 33 [55]3 years ago
7 0

Answer:$4, $8, $12

Explanation: we will first find the sales value of each CD price group

Group CD1= 100x5/(100x5+800x10+10015)  = $500/$10,000= 0.05X 100= 5%

Group CD 2  = 10x800/ (100x5+800x10+100x15) =$800/%10,000= 0.8X 100=80%

Group CD 3 = 100x15/(100x5+800x10+100x15)= $1500/ $10,000 = 0.15X 100%=15%

So the costs per CD are:

CD 1= 8000 X.05/100= $4.00

CD 2=8000 x 0.80/800= $8.00

CD 3= 8000x 0.15/100= $12.00

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Retained Earnings, July 31, 2017         $0

Net Income (Loss)                           6,845

Retained Earnings, July 31, 2018 $6,845

2. Carissa Communications' Classified Balance Sheet as of July 31, 2018:

Assets:

Current Assets:

Cash                                $ 3,500

Accounts Receivable         3,000

Merchandise Inventory      1,300

Total Current Assets       $7,800      $7,800

Long-term Assets:

Equipment, net                12,500    $12,500

Total Assets                                    $20,300

Liabilities + Equity:

Current Liabilities:

Accounts Payable             1,900  

Accrued Liabilities            5,855

Total Current Liabilities  $7,755      $7,755

Long-term Liabilities:

Notes Payable, long-term                  3,400

Total Liabilities                                  $11,155

Stockholders' Equity:

Common Stock                  2,300

Retained Earnings             6,845

Total Stockholders' Equity 9,145     $9,145

Total Liabilities +  Equity  $20,300

Explanation:

a) Data and Calculations:

1. Adjusted Trial Balance for its first year of business, which ended on July 31, 2018

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Cost of Goods Sold       $ 18,400

Selling expenses                1,700  

Equipment, net                12,500

Accounts Payable                               1,900  

Accrued Liabilities                              5,855

Common Stock                                   2,300

Net Sales Revenue                          30,000

Notes Payable, long-term                  3,400

Accounts Receivable         3,000

Merchandise Inventory      1,300

Interest Expense                    55

Administrative Expense    3,000

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Administrative Expenses   3,000

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Operating Income              6,900

Interest Expense                    (55)

Net Income (Loss)            $6,845

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