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Fiesta28 [93]
4 years ago
6

On May 1, Shilling Company sold merchandise in the amount of $5,800 to Anders, with credit terms of 2/10, n/30. The cost of the

items sold is $4,000. Shilling uses the perpetual inventory system and the gross method. The journal entry or entries that Shilling will make on May 1 is:a. Sales 5,800 Accounts receivable 5,800 b. Merchandise Inventory 5,800 Accounts payable 5,800 c. Accounts payable 5,800 Sales 5,800 d. Merchandise Inventory 5,800 Cash 5,800
Business
1 answer:
Arada [10]4 years ago
5 0

Answer:

The correct answer is:

Debit: Account receivable $5,800

Credit: Sales revenue $5,800

Debit: Cost of goods sold $4,000

Credit: Merchandise inventory $4,000

Explanation:

On 1st May

Upon sale of inventory on credit

Debit: Account receivable $5,800

Credit: Sales revenue $5,800

On 1st May

To record cost of goods sold of merchandise inventory:

Debit: Cost of goods sold $4,000

Credit: Merchandise inventory $4,000

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During the month of September, direct labor cost totaled $11,000 and direct labor cost was 40% of prime cost. If total manufactu
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Answer:

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Explanation:

Giving the following information, we need to calculate the amount of manufacturing head.

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First, we need to calculate the direct material:

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If direct labor is 40% of prime costs, then:

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Now, the manufactured cost formula is:

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By rearranging the formula:

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Sage Company is operating at 90% of capacity and is currently purchasing a part used in its manufacturing operations for $14.00
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Answer:

The correct answer to the following question will be "$76,986".

Explanation:

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⇒                        =(14-12)\times 38,493

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