Answer:
$22.475 and $99.96
Explanation:
1. Split-leaf philodendron, costs $13.50 and requires an additional $1.00 per plant to prepare for a sale. The total cost of the plant is $14.50 ($13.50 + $1.00)
If Suzie desires a 55% mark-up, the retail prices will be the cost price plus 55% of the cost.
The cost price of $14.50 is equal to 100%
the retail price will be 155% of $14.50
=155/100 x $14.50
=1.55 x $14.50
=$22.475
2. The manufacturer sells the tent for $59.95.
$59.95 is equivalent to 100%. If wholesalers mark-up is 15%, they will sell the tents to retailers at 115% of $59.95
=115/100 x $59.95
=1.15 x $59.95
=$68.94
Retailers mark up is 45% of $68.94. consumers buy the tents at 145% of $68.94
=145/100 x $68.94
=1.45 x $68.94
=$99.96
Answer:
The cost recorded for the equipment=$229,550
Explanation:
The total recorded cost of the automatic equipment has to include the purchase cost and other additional associated costs that come with the equipment. This can be expressed as;
T=P+A
where;
T=total cost
P=purchase cost/invoice cost
A=additional costs(electrical work cost+delivery cost+sales tax+repair cost)
In our case;
T=unknown
P=$190,000
A=(20,000+4,000+13,700+1,850)=$39,550
replacing;
T=190,000+39,550=229,550
The total cost=$229,550
The cost recorded for the equipment=$229,550
Answer:
Gross profit= $1150
Explanation:
Giving the following information:
Beginning inventory: 240u*$4.00= $960
Purchase, (1/15/2017)= 120u*4.20= $504
Purchase, (1/28/2017)= 120u*4.40= $528
Ending inventory= 190u
The company uses FIFO (first in, first out).
Sale price= $8.00 each.
What is the gross profit for the month?
First, we need to calculate the number of units sold:
Sold units= Beginning inventory + purchase - ending inventory= 240 + 240 - 190= 290 units
Revenue= 290*8= $2320
Cost of goods sold= 240*$4 + 50*4.20= $1170
Gross profit= $1150
Answer:
the carrying value is $1,025,640
Explanation:
The computation of the carrying value of the bonds is shown below:
Given that
The Face value of the Bond is $990,000
Now
Issue Price is
= $990,000 × 1.04
= $1,029,600
Now
Premium on Bonds Payable is
= $1,029,600 - $990,000
= $39,600
Semi-annual Bond Amortization is
= $39,600 ÷ 10 Years
= $3,960
And, finally carrying value is
= $1,029,600 - $3,960
= $1,025,640
Hence, the carrying value is $1,025,640
Answer:
1. Chairman
2. The responsibility of
3. Tenure is more than
4. Federal Open Market Committee (FOMC)
5. Twelve members
6. instructions issued by the FOMC to the Federal Reserve Bank of New York
Explanation:
The Board of Governors of the Federal Reserve is in charge of setting and overseeing monetary policy and is headed by the CHAIRMAN
Monetary policy is supposed to be THE RESPONSIBILITY OF Congress and the president. This goal is aided by the fact that the governors' TENURE IS MORE THAN them to outlast the president who appointed them.
Because Congress initially intended to create a decentralized banking system, there are also smaller branches of the Federal Reserve known as district banks. The presidents of the district banks take turns serving as members of the FEDERAL OPEN MARKET COMMITTEE.
The Federal Open Market Committee (FOMC) is the official policy making body of the Federal Reserve and is made up of TWELVE MEMBERS.
The mechanism for translating FOMC policy into action is INSTRUCTIONS ISSUED BY THE FOMC TO THE FEDERAL RESERVE BANK OF NEW YORK, which outlines the course of monetary policy for the next six weeks.