Cost of inventory destroyed in fire is $1,140,000
<u>Explanation:</u>
The loss from fire to inventory can be calculated by finding the cost of the inventory on the may 4 , 2021.
Cost of sales = Sales – profit on sales
= 9000000-1800000
=$7200000
The value of inventory on the may 4 = opening inventory on January 1 + purchases + freight in – cost of sales
=1980000+5880000+480000-7200000
=$1,140,000
Cost of sales is referred to the amount that is incurred in producing the goods. Cost of sales is included in the sale price of the product to earn a profit beyond the cost. So sales includes cost and profit which can be used to find the cost of sales.
Answer:
Results are below.
Explanation:
<u>The absorption costing </u>method includes all costs related to production, both fixed and variable. The unit product cost is calculated using direct material, direct labor, and total unitary manufacturing overhead.
<u>The variable costing </u>method incorporates all variable production costs (direct material, direct labor, and variable overhead).
<u>Absorption costing:</u>
Unitary fixed overhead= 415,800 /7,700= $54
Unitary cost= 157 + 81 + 3 + 54
Unitary cost= $295
<u>Variable costing:</u>
Unitary cost= 157 + 81 + 3
Unitary cost= $241
Answer:
$800,000
Explanation:
Given that;
Sales revenue = $800,000
Cash collected = $645,000
Remaining amount cash collected in January = $155,000
And the delivery of goods is $11,100
Here, since the service revenue earned is $800,000 and same amount would be reported under the income statement, other items given would be ignored.
It therefore means that the sum of $800,000 should be the 2019 income statement report for service revenue.
Answer: A Semantic Differential Scale question.
A rating scale question is a type of a closed-end question in which the person who takes the survey assess the question on a given scale.
A rating scale may be a Likert scale or a Semantic differential scale.
In a Likert scale the choices usually range between strongly agree and strongly disagree.
In a semantic differential scale, however, each end of the scale has opposing sentences. In the question above, the five-point scale ranges from “hilarious” to “not funny”. Since this scale has opposing sentences at each end, this question is a semantic differential scale question.
A key element of strategic account management is involving a senior level manager on the sales and buying teams in relationship development, product configuration and after sales services. Strategic Account Management is a company wide initiative complex that focuses on creating a mutual and beneficial relationship with the company most important customers and partners.
