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g100num [7]
3 years ago
6

The following events took place for Rushmore Biking Inc. during February, the first month of operations as a producer of road bi

kes:
Purchased $350,000 of materials.
Used $316,800 of direct materials in production.
Incurred $91,100 of direct labor wages.
Applied factory overhead at a rate of 49% of direct labor cost.
Transferred $429,100 of work in process to finished goods.
Sold goods with a cost of $408,300.
Revenues earned by selling bikes, $675,500.
Incurred $137,400 of selling expenses.
Incurred $66,800 of administrative expenses.

a. Prepare the July income statement for Bridger Bikes Inc. Assume that Bridger Bikes uses the perpetual inventory method.
b. Determine the inventory balances at the end of the first month of operations.

Business
1 answer:
Dafna1 [17]3 years ago
7 0

Answer:

(a) Prepare the July income statement for Bridger Bikes Inc. Assume that Bridger Bikes uses the perpetual inventory method.

The answer is as follows:

Operating income = $63,000

Explanation:

(a) Prepare the July income statement for Bridger Bikes Inc. Assume that Bridger Bikes uses the perpetual inventory method.

Solution:

Perpetual Inventory System

A perpetual inventory system is a method of inventory management that records real-time transactions of received or sold stock through the use of technology – generally considered a more efficient method than a periodic inventory system.

Operating income:

Operating income = Revenue - Cost of goods sold - Selling and administrative expenses.

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Hey there Emilymontalva1227,

Historically, the geographic division structure is associated with companies pursuing ______ strategies.

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Multi Domestic

Hope this helps :D

<em>~Natasha♥</em>
3 0
3 years ago
Theresa leased a one-bedroom apartment from Landlady for one year at $500 per month. After three months, she vacated the apartme
LenaWriter [7]

Answer:

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Explanation:

I hope this helped have a great day!

5 0
3 years ago
The process of conducting business on an international scale is a part of _____. globalization Communism mercantilism Socialism
Vlad [161]

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7 0
3 years ago
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During the annual Black Friday Sale, The OLX sold a pair of ski boots, regularly priced at $245.00, at a discount of 40%. The bo
ratelena [41]

Answer: $147

Explanation:

First find what 40% of $245.00 is:

= 40% * 245

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The boots are sold at a discount of 40%. This means that 40% - which is $98 - was deducted from the value.

The selling price is therefore:

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7 0
3 years ago
Nathan is defending his first place ranking at the annual debate competition. Just minutes before his turn, Nathan gets nervous
satela [25.4K]

Answer:

The consideration which will be dictated for Nathan's self efficiency is:

C. Verbal persuasion

Explanation:

Here, in the question it is mentioned that Nathan has been defending his first place ranking in his annual debate competition.

Now, just some minutes before his turn in the annual debate competition he gets nervous and he cannot remember his arguments related to the debate topic.

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7 0
3 years ago
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