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Aliun [14]
3 years ago
10

Natalie is busy establishing both divisions of her business (cookie classes and mixer sales) and completing her business degree.

Her goals for the next 11 months are to sell one mixer per month and to give two to three classes per week. The cost of the fine European mixers is expected to increase. Natalie has just negotiated new terms with Kzinski that include shipping costs in the negotiated purchase price (mixers will be shipped FOB destination). Assume that Natalie has decided to use a periodic inventory system and now must choose a cost flow assumption for her mixer inventory. Inventory as on January 31, 2019 represents three deluxe mixer purchased at a unit cost of $595 average cost.
Business
1 answer:
S_A_V [24]3 years ago
5 0

Answer:

Explanation:

Base on the scenario been described in the question, we have the following

Quantity

Unit rate

Total cost

m

Jan 31

Opening

3

$595.00

$1,785.00

st

Feb 2

Purchases

2

$600.00

$1,200.00

5

Mar 2

Purchases

1

$618.00

$618.00

6

Apr 1...

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Under the percentage of completion method, if the actual costs are ____ the estimated costs, the taxpayer must pay interest on t
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Answer:

The correct answer is Less than the estimated costs.

Explanation:

The percentage method completed is an accounting practice used to recognize income in long-term contracts.

When long-term projects (greater than one year) are undertaken, the costs and revenues associated with it are incurred throughout its life.

This accounting method, as its name suggests, allows the company to account for part of the associated income and expenses incurred as the project phases are completed. Thus, the percentage complete method is understood as a method of recognition of recognition of income and expenses that is applied continuously without having to defer income and expenses at the end of the project.

8 0
3 years ago
The Easy Pack Company includes one coupon having no expiration date with its deluxe snack pack. Upon return of 10 coupons, Easy
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Answer:

premium liability (coupon oustanding) $ 1,500

Explanation:

We will recognize a liablity based on expected coupon redemption of 10%:

Sold 1,000,000 deluxe snack = 1,000,000 coupon

from this we expect 10% will be redeem: 1,000,000 x 10% = 100,000

Then, calculate the cost that this coupon will generate:

Thre will be 100,000 redeem coupons which, every 10 is traded for a 1.50 silver chip clip:

100,000 / 10 x $ 1.50 = $ 15,000

For the sales of we have a premium liablity of 15,000

premium expense    15,000

          premium liaiblity            15,000

<u>We also purchase this silver chip clip:</u>

Premium Inventory 15,000

                Cash                   15,000

During the year, we adjust for the chips clips distributed:

9,000 x $ 1.50 = 13,500

This decreases both, the liablity and the premium inventory.

Premium Liability        13,500 debit

            Premium Inventory       13,500 credit

Adjusted year-end balance:

15,000 - 13,500 = 1,500

3 0
3 years ago
Rad, a manufacturer of luxury watches, charges a higher price for its products than its competitors. Despite the high prices, th
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Answer:

More-for-more

Explanation:

A value proposition refers to the value a company promises to deliver to customers if they decide to purchase their product. A value proposition is also a declaration of intent or a statement that introduces a company's brand to consumers by informing the customers what the company stands for, how it is being operated, and why it deserves their patronage.

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When moored to a dock, what should you do before casting off while you warm up the engine? A. Make sure everyone on board is wea
Dahasolnce [82]

Answer:

The answer will be A

Make sure everyone on board is wearing a life jacket.

Explanation:

Some work we should do before moored to dock:

  • Put your craft girded to the dock while the machine getting ready.
  • Test wind and current direction.
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7 0
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In 2018, Usher Sports Shop had cash flows from investing activities of ($2,150,000) and cash flows from financing activities of
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Answer:

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Therefore:

Cash flows from operating activities = Cash at the beginning of the year + Cash flows from investing activities + Cash flows from financing activities - Cash at the end of the year

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3 0
3 years ago
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