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notsponge [240]
3 years ago
5

A sporting equipment store expects to purchase $8,700 of ski boots in October. The store had $2,300 of ski boots in merchandise

inventory at the beginning of October, and expects to have $1,300 of ski boots in merchandise inventory at the end of October to cover part of anticipated November sales. What is the budgeted cost of goods sold for October?
Business
1 answer:
likoan [24]3 years ago
5 0

Answer:

The expected cost of goods sold for the month of October would be $9700

Explanation:

Formula for taking out cost of goods sold  (October) -

              BEGINNING INVENTORY

                               +

              PURCHASING  MADE

                               +

              ENDING INVENTORY

Available information -  beginning inventory = $2300

                                       purchase = $8700

                                       ending inventory =  $1300

Putting the values in the formula -

= $2300 + $8700 - $1300

= $9700

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"Redfox Pest Control Service had revenues of $425,000 and expenses of $338,000 for the current year, ended June 30. At the begin
andrew-mc [135]

Answer: The options are given below:

A. $292,000

B. $267,250

C. $205,250

D. $275,250

The answer is D. $275,250

Explanation:

Net profit = 425,000 - 338,000 = $87,000

Common Stock =110,000 + 25,000 = $135000

Retained Earnings = 70,000 + 87,000 = $157000

Less: Dividend paid = -$16,750

We will calculate shareholders equity as follows:

Total shareholders' Equity = common stock + retained earnings - dividend paid

=> $135000 + $157000 - $16,750

= $275,250

7 0
3 years ago
Read 2 more answers
One difference between a monopoly and a competitive firm is that A. a monopoly faces a downward sloping demand curve. B. a monop
AnnZ [28]

Answer:

A. a monopoly faces a downward sloping demand curve.

Explanation:

In business, it is seen to occur because they have no competition, monopolists have no incentive to improve their products. A lot of their focus is instead placed on maintaining monopolistic conditions through bribing their way and other tactics that dissuade competitors from entering the market.

 Demand curve slopes downward, this is said to decreases with each unit of production beyond the profit maximizing quantity and in the eyes of the monopolist, cash is lost with each additional unit been produced, causing marginal cost exceeds marginal revenue. This causes the restricted output and higher costs that characterize products produced by monopolists.

Because the demand curve slopes downward, marginal revenue decreases with each unit of production beyond the profit maximizing quantity. Thus, the monopolist loses money with each additional unit produced, as marginal cost exceeds marginal revenue.

6 0
3 years ago
John Peterson purchased a bond at a price far below its face value; it that makes no interest payments and will be redeemed at i
nadezda [96]

Answer:

zero-coupon

Explanation:

According to my experience with different investment assets, I can say that based on the information provided within the question he purchased a zero-coupon bond. This is an bond asset that the individual may redeem at the time of maturity for the same price that he purchased the bond. Just like mentioned in the question.

If you have any more questions feel free to ask away at Brainly.

7 0
3 years ago
Process activity analysis roen company incurred an activity cost of $105,600 for inspecting 40,000 units of production. manageme
Margaret [11]

Answer:

The answer is $2.64 per unit  and $13.2%

Explanation:

Solution

Given that:

The formula for calculating inspection activity of inspection before improvement is stated below:

Inspection Activity before Improvement = Total Activity Cost/Total Units of Production

Using the values provided in the question, we have,

Inspection Activity before Improvement = 105,600/40,000 = 2.64 per unit

Now,

he formula for calculating inspection activity after improvement is given below:

Inspection Activity after Improvement = (Total Activity Cost*Inspection Activity Percentage)/Total Units of Production

Using the values provided in the question, we get,

The Inspection Activity after Improvement = (105,600*5000)/40,000 = $13,200 per unit or $13.2 per unit

4 0
3 years ago
On January 1 of the current year, the Barton Corporation issued 12% bonds with a face value of $88,000. The bonds are sold for $
gogolik [260]

Answer:

b.$11,088

Explanation:

The computation of the interest expense is shown below

= Cash interest + discount amortized

= ($88,000 × 12%) + ($88,000 - $85,360) ÷ 5 years

= $10,560 + $528

= $11,088

Hence, the interest expense is $11,088

Therefore the correct option is b.

We simply applied the above formula so that the correct value could come

And, the same is to be considered

6 0
3 years ago
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