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Firlakuza [10]
3 years ago
10

Mogul Company ships merchandise to Ski Outfit in a consignment arrangement. The arrangement specifies that Ski Outfit will attem

pt to sell the merchandise, and in return, Mogul will pay to Ski Outfit a 20% sales commission on any merchandise sold. During the year, Mogul ships inventory with a cost of $110,000 to Ski Outfit. By the end of the year, $84,000 of the merchandise has been sold to customers for a total of $116,200. What amount of inventory will Mogul report at year end
Business
1 answer:
Dafna11 [192]3 years ago
7 0

Answer:

Mogul will report Inventory of $26000

Explanation:

The consignment accounting states that any inventory sent on consignment by the consignor to the consignee belongs to the consignor until it is sold by the consignee. Mogu; company sent inventory costing 110000 and out of this only 84000 is sold. The remaining inventory still belongs to the consignor and the amount of this inventory is 110000 - 84000 = $26000

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The estimated unit costs for a company to produce and sell a product at a level of 15,000 units per month are as follows:Cost It
Lesechka [4]

Answer:

Estimated variable costs per unit=$86.

Option A is correct ($86.00)

Explanation:

Variable cost are those which changes with the activity level. These costs are help in making decision because if we talk about fixed costs, fixed costs do not help in making decisions as they are sunk costs. Management uses variable costs for making the decisions.

Estimated variable costs per unit= Direct material+Direct labor+Variable manufacturing overhead+Variable selling expenses

Estimated variable costs per unit=$38+$23+$21+$4

Estimated variable costs per unit=$86.

Option A is correct ($86.00)

7 0
4 years ago
Boone Company purchased a piece of machinery by paying $18,000 cash. In addition to the purchase price, the company incurred $80
Mkey [24]

Answer:

The correct answer is $18920.

Explanation:

Boone Company purchased a piece of machinery by paying $18,000 cash.

In addition to the purchase price, the company incurred $800 freight charges.

Estimated useful life of the machine is 5 years and will require $600 for insurance over that period.

So insurance money for a year = $ (\frac{600}{5} ) = $120.

Boone Company would record the cost of the machine at  $ ( 18000+ 800+ 120) = $ 18920.

4 0
3 years ago
Tidewater, Inc., requires its job applicants to take a test that measures their vocabulary and numerical skills. For specific jo
Nataly_w [17]

Answer: performance

Explanation:

When the job applicants for specific jobs are told to perform a sample of the job, this implies that the company is using a performance test.

Performance test simply refers to a test that requires the individuals partaking in it to perform an activity using their skills, ability and knowledge.

6 0
3 years ago
Does anyone know how much smart boards are?
ivanzaharov [21]
Depends on brand. can vary from a few hundred to more.
6 0
4 years ago
Read 2 more answers
Honda's new electric unicycle is very unique. It is steered by the rider leaning, computer stabilized through control of its sin
Semenov [28]

Answer: Honda could get a lot of notice as innovative company

Explanation:

From the question, we are informed that Honda's new electric unicycle is very unique and that it is steered by the rider leaning, computer stabilized through control of its single crabbing wheel.

It also has a range of about 3 miles at 3 miles per hour, takes n hour to recharge and only weighs 25 pounds, so it can be carried while the cost would be about $2000.

The only good reason to produce this would be that people and every other organization will notice Hinds as being a company that is innovative. This will be advantageous for its brand.

5 0
3 years ago
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