Answer:
The answer is $243,000
Explanation:
The inventory on July 8 immediately prior to the fire is the CLOSING INVENTORY.
To find this closing inventory, we need to find the gross profit first and then cost of sales.
To find gross profit:
Gross profit margin=gross profit ÷sales.
Gross profit margin is 20% or 0.2
Sales is $690,000
Therefore, gross profit is:
0.2 x $690,000
=$138,000
To find cost of sales:
Gross profit = sales - cost of sales.
Gross profit is $138,000
Sales is $690,000
Therefore, cost of sales is
$690,000 - $138,000
=$552,000.
And finally to get closing inventory:
Cost of sales = opening inventory + purchases - closing inventory.
Cost of sales = $552,000
Opening inventory = $140,000
Purchases = $655,000
Closing inventory = $140,000+$655,000-$552,000
=$243,000.
Answer:
C. the Inventory account.
Explanation:
Under a perpetual inventory system, acquisition of merchandise for resale is debited to the Inventory account.
Answer:
$200,000
Explanation:
Total cost = Fixed cost + variable cost
$200,000 = $100,000 + $100,000
Fixed cost is cost that do not vary with production. E.g. rent
If no production activity takes places, fixed cost would still be incurred.
Variable cost is cost that varies with production e.g. wages
If no production activity takes place, there would be no variable cost.
I hope my answer helps you.
Answer:
EXECUTIVE SUMMARY:
Explanation:
1.There are many factors to consider that the company must bear in mind when sending these managers as expatriates.
In the following executive summary we will analyze what challenges must be faced according to the country where they will be sent.
In the case of France, the work environment is highly formal and follows a hierarchical structure already defined, so they must adapt to their role as manager and comply with the imposed requirements, which in turn is important.
As for the social and cultural sphere, it is important to comply with the punctuality and formality protocols required in each of the events or meetings to be held, in addition to feeling respect and admiration for them.
2.
Regarding Mexico, the work environment is very healthy, and expatriates are highly respected and appreciated, although they must meet all the labor requirements and additional demands regarding extra work.
