Answer: 4,050 units
Explanation:
Units to be produced in July = Units sold + ending inventory - beginning inventory
Ending inventory = 20% of August sales = 20% * 4,690 = 938 units
Beginning inventory = 20% of July sales = 20% * 3,890 = 778 units
Units to be produced = 3,890 + 938 - 778
= 4,050 units
<em>Options are most probably for a similar question with different details. </em>
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:
b. inventory for $1516.
Explanation:
Term 2/10, n/30 means there is a discount of 2% is available on payment of due amount within discount period of 10 days after sale and net credit period of 30 days.
Purchase value = $83,000
Purchases return = $7,200
Amount Due = $83,000 - $7,200 = $75,800
As the $75,800 is paid within discount period, so discount will be given to customer
Discount = $75,800 x 2% = $1,516
Payment Made = $75,800 - $1,516 = $74,284
Gross method does not record the discount value it recognise the inventory at its gross amount and discount is adjusted in the inventory account after that.
Answer and Explanation:
The preparation of the bank reconciliation statement for August 31 is presented below:
Miller Co.
Bank reconciliation statement
August 31
Particulars Amount Particulars Amount
Bank cash balance $4,709 Company cash balance $5,162
Add: Less:
Deposits in transit $1,035 Bank service charges -$33
Less: Outstanding Error in recording -$9
Check -$624
Bank balance Company balance
After reconciliation $5,120 After reconciliation $5,120
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