Answer:
1. Merchandise held on consignment for Trout Creek Clothing.
- Excluded from the company's year-end inventory because they belong to another company.
2. Goods shipped f.o.b. destination on December 28 that arrived at the customer's location on January 4.
- Included in the company's year-end inventory because FOB destination shipments transfer ownership only after they are delivered, not while on transit.
3. Goods purchased from a vendor shipped f.o.b. shipping point on December 26 that arrived on January 3.
- Included in the company's year-end inventory because FOB shipping point shipments transfer ownership after they leave the seller's facilities.
4. Goods shipped f.o.b. shipping point on December 28 that arrived at the customer's location on January 5.
- Excluded from the company's year-end inventory because FOB shipping point shipments transfer ownership after they leave the seller's facilities, so they belong to the buyer now.
5. Phoenix had merchandise on consignment at Lisa's Markets, Inc.
- Included in the company's year-end inventory because merchandise on consignment belong to the company, not to Lisa' Market.
6. Goods purchased from a vendor shipped f.o.b. destination on December 27 that arrived on January 3.
- Excluded from the company's year-end inventory because FOB destination shipments transfer ownership only after they have been delivered, not while in transit.
7. Freight charges on goods purchased in 3.
-
Included in the company's year-end inventory because freight costs under FOB shipping point are paid by the buyer.
Answer: $1,110 .
Explanation:
Given : Amount received by concession stand in gameday sales = $5,550
i.e. Gross income = $5,550
Profit for the event = $3,330
i.e. Net income =$3,330
According to the Net income formula ,
Gross income - expenses = Net income
⇒ Expenses = Gross income - Net income
⇒ Expenses = $5,550- $3,330
⇒ Expenses = $1,110
Thus , the expenses were $1,110 .
Answer:
$9.05
Explanation:
the information about prices and costs is missing, so I looked it up:
contribution margin per yard for silk = $18 - $4.10 - $2.70 - $3.51 - $0.90 = $6.79
contribution margin per yard for polyester = $10.20 - $0.80 - $2.90 - $3.77 - $0.60 = $2.13
contribution margin per machine hour:
silk = $6.79 x 1/0.75 = $9.05
polyester = $2.13 x 1/0.5 = $4.16
