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Llana [10]
2 years ago
7

As a result of a thorough physical inventory, Railway Company determined that it had inventory worth $180,000 at December 31. Th

is count did not take into consideration the following facts: Rogers Consignment store currently has goods worth $35,000 on its sales floor that belong to Railway but are being sold on consignment by Rogers. The selling price of these goods is $50,000. Railway purchased $13,000 of goods that were shipped on December 27, FOB destination, that will be received by Railway on January 3. Determine the correct amount of inventory that Railway should report. A :
Business
1 answer:
fgiga [73]2 years ago
7 0

Answer:

The answer is: $215,000

Explanation:

Railway Company should include the goods worth $35,000 that Rogers Consignment store has. Once this amount is included, the total inventory for Railway Company should be $215,000 ($180,000 + $35,000).

Merchandise purchased and shipped as FOB destination, belongs to the seller until it has been properly delivered to the buyer. It will increase the inventory once it arrives on January 3.

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Latting Corporation has entered into a 7 year lease for a building it will use as a warehouse. The annual payment under the leas
ira [324]

Answer:

D) $26,688

Explanation:

The computation of the present value is shown below:

= Annual payment × PVIFA for 7 years at 6%

= $4,781 × 5.5824

= $26,688

Refer to the PVIFA table

Simply we multiply the annual payment with the PVIFA so that the accurate amount can come.

The present value is come after considering the discount rate for the given number of periods

3 0
3 years ago
How to write a reimbursement cheque in Quickbooks?
Aleks04 [339]

Answer:

Click the Employees tab.

Select the employee name.

In the Pay section, click Edit.

Under Additional pay, select the Reimbursement checkbox. ...

Click Edit and enter a recurring amount or give the pay type a unique name (optional).

Click Save.

Explanation:

Hope that helps!

8 0
3 years ago
OB Mod stands for: A. Organization Behavior Modification B. Organization Betterment Management C. Organization Behavioral Modera
hoa [83]

Answer: A. Organization Behavior Modification

Explanation: OB Mod stands for Organization Behavior Modification.

It is a performance management type wherein managers try to increase the power of wages and benefits by trying them directly to certain types of performance. They (managers) identify performance-related employee behaviours and then implement an intervention strategies to strengthen desirable performance behaviours and weaken undesirable behaviour. OB Mod represents application of reinforcement theory to individuals in the work setting.

5 0
2 years ago
Cobe Company has already manufactured 21,000 units of Product A at a cost of $15 per unit. The 21,000 units can be sold at this
bezimeni [28]

Answer and Explanation:

The computation is shown below;

Particulars                   Sell     process further  

sales                       $450,000      $1,209,000  

Relevant cost    

Process further cost $0               $290,000

Less: Total relevant cost  $0      $290,000  

Income                     $450,000      $629,000

Incremental income                          $179,000

The $1,372,000 is come from

= 5,800 units × $105 + 12,000 units × $50

= $609,000 + $600,000

= $1,209,000

Hence, the company should process further

7 0
2 years ago
Quirch Inc. manufactures machine parts for aircraft engines. The CEO, Chucky Valters, was considering an offer from a subcontrac
Brilliant_brown [7]

Answer:

Supplier's quotation (2,400 x $6.25)                     150,000

Less: Relevant cost of production:

Direct material (2,400 x $31)                 74,400

Direct labour (2,400 x $18)                    43,200

Variable overhead (2,400 x $9)             <u>21,600</u>       <u>139,200</u>

Savings                                                                       <u> 10,800</u>

The parts should be produced in-house since the relevant cost of production is lower than supplier's quotation.

 Explanation:

In this case, we need to compare supplier's quotation to the relevant cost of production. The price of $6.25 above was computed by dividing the total price charged by the supplier by the number of parts. Moreso, the relevant cost of production is obtained by the aggregate of direct material, direct labour and variable overhead.

8 0
3 years ago
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