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LiRa [457]
3 years ago
9

Jones Manufacturing purchased $10,000 of merchandise inventory on account from a vendor and paid a $500 freight bill. The credit

terms are 2/10 or n/30. Because some of the merchandise was not needed, Jones Manufacturing returned $2,000 the same day. Jones Manufacturing uses the perpetual inventory system and made payment for the merchandise, less the return, within the discount period. What is the final cost of the merchandise inventory for Jones Manufacturing from this purchase?
A: 8,000
B: $7,840
C: 8,340
D: $10,094
Business
1 answer:
Vitek1552 [10]3 years ago
3 0

Answer:

What is the final cost of the merchandise inventory for Jones Manufacturing from this purchase?

C: 8,340

Explanation:

Purchase 10000

Return 2000

8000

discount % 2%

discount 160

Net payment 7840

Freigth 500

Final cost 8340

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How would utility costs be properly classified? Select one: A. Curvilinear B. Fixed C. Variable D. Stepped E. Mixed
ANTONII [103]

Answer: Mixed

Explanation:

Here is the complete question:

Max Machining incurs the following utilities costs at different levels of production:

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The utility cost here will be classified as a mixed cost. A mixed cost is a type of cost that has both fixed and variable cost. At 0 units, $120 was already spent. This shows that this cost is a fixed cost as it doesn't have anything to do with output. It'll still be paid regardless of the number of outputs while the other cost incurred are variable cost which is dependent on the number of outputs of goods.

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3 0
3 years ago
Where do you pay a bill by credit card when the bill was not entered through the enter bills window?
omeli [17]

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4 0
2 years ago
Famous Furniture Manufacturing Company reported the following information for 2019:
AfilCa [17]

Answer:

$255,500

Explanation:

Prepare a Cost of Goods Manufactured Schedule to determine the  cost of goods manufactured.

<u>Cost of Goods Manufactured Schedule</u>

Direct material used                                             $ 75,000

Direct labor                                                           $ 93,000

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Add Beginning work-in-process inventory        $130,000

Less Ending work-in-process inventory            ($112,500)

Cost of goods manufactured                             $255,500

6 0
4 years ago
All the long-term debt of a government, including the long-term debt that will be financed by Enterprise Fund revenues, is repor
Studentka2010 [4]

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