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Marianna [84]
3 years ago
12

Coronado Inc. had beginning inventory of $12700 at cost and $20900 at retail. Net purchases were $113930 at cost and $158500 at

retail. Net markups were $9600, net markdowns were $7400, and sales revenue was $151100. Compute ending inventory at cost using the conventional retail method. (Round ratios for computational purposes to 0 decimal places, e.g. 78% and final answer to 0 decimal places, e.g. 28,987.)
Business
1 answer:
aalyn [17]3 years ago
3 0

Answer:

<u><em>Ending Inventory:</em></u> <em>21,267.70</em>

Explanation:

                cost   retail  

beginning        12,700    20,900

purchases   113,930   158,500

markups                9,600  

markdowns               (7,400)

total                 126,630    181,600  

inventory to retail ratio: 126,630 / 181,600 =  0.6973

sales revenues   151,100  

COGS: 151,100 x 0.6973 =  105,362.30

<u><em>Ending Inventory:</em></u> 126,630 - 105,362.30 = <em>21,267.70</em>

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Business fixed investment

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Visburg Concrete Company pours concrete slabs for single-family dwellings. Lancing Construction Company, which operates outside
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$45,600 and yes

Explanation:

The computation of the contribution to profit from the special order is shown below:

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where,

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Variable production costs Plastic for casing $ 171,500 Wages of assembly workers 490,000 Drum stands 215,600 Variable selling co
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Answer:

Part 1.

Contribution margin income statement for the year.

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<u>Less Variable Costs </u>

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Factory maintenance                                 12,000

Factory machinery depreciation               72,000

Lease of equipment for sales staff           12,000

Accounting staff salaries                           62,000

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Net Income                                                                      321,200

Part 2.

Contribution margin per unit = $627,200 / 4,900  = $128.00

Contribution margin ratio =  $627,200/ $1,666,000 = 37.65 %

Explanation:

The Contribution Margin Income Statement calculates separately the contribution and net income as shown above.

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