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torisob [31]
3 years ago
6

Marigold Corp. has begun and ending raw materials inventories of $64000 and $80000, respectively. If direct materials used were

$110000, what was the cost of raw materials purchased?

Business
1 answer:
blondinia [14]3 years ago
7 0

Answer:

The answer is $126,000

Explanation:

Please find the attached file for the calculation.

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A person who holds him- or herself out as a specialist or knowledgeable in a certain type of business is one type of
ruslelena [56]

Answer:

Merchant

Explanation:

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3 years ago
During the months of January and February, Solitare Corporation sold goods to two customers. The sequence of events was as follo
Daniel [21]

Answer:

The total revenue Solitare would report over the two months is $99 with a gross loss of $11.74

Explanation:

Particulars                                                  Amount ($)

Sales (January & February)

- Wizard Inc                                                     $50

- Spyder Corp                                                 $50

Less: Discount allowed to Wizard Inc           <u>$1       </u>    ($50 * 2%)

Net Sales                                                         $99

Less: Cost of goods sold (60.6+50.14)          <u>$110.74</u>

Gross Loss                                                       <u>$11.74</u>

8 0
2 years ago
Farmer's Fine Furnishings manufactures upscale custom furniture. Farmer's currently uses a plantwide overhead rate based on dire
alexdok [17]

Answer:

See below

Explanation:

1. Plant wide overhead rate

= Total manufacturing overhead / Estimated cost allocation base

= $1,100,000/27,500

= $40

2. Compute department overhead rates

= Total department overhead / Estimated cost allocation base

Machining department

= $740,000/14,800

= $50 per MH

Fishing department

= $360,000/18,000

= $20 per DL

3 0
2 years ago
You and your client decide that her case is eligible and should be heard by the U.S. Supreme Court. You receive a writ of certio
forsale [732]
Writ of Certiorari: a document that orders a lower court to deliver its record in a case so that the higher court may review it.
7 0
3 years ago
A wedding party hired a sole proprietorship to cater their wedding. In this situation the sole proprietorship is a partnership,
Kruka [31]

Answer:

False

Explanation:

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The law does not distinguish between the business and the owner. Any liabilities arising from the business are considered to be the owner's liability. In this wedding situation, the sole proprietor is solely responsible for the mistakes of his assistant.

7 0
3 years ago
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