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Rzqust [24]
3 years ago
15

An item was shipped from a supplier under FOB shipping point. The invoice in the amount of $2,000 included payment terms of 2/10

, n/30. When the invoice was paid, a purchase discount in the amount of $40 was taken. Other details relating to the purchase of this item included the following: shipping charges of $300, storage fees of $50, and insurance premium of $100. The cost of this inventory item is
Business
1 answer:
Norma-Jean [14]3 years ago
6 0

Answer:

Cost of inventory = $2,410

Explanation:

<em>The payment terms 2/10, n/30 implies that if the Company pays within te next 10 days of purchase, it will receive a discount of 2% of the net invoice amount and that the latest date for the settlement of bill is within the next 30 days of purchase. </em>

The cost of the inventory would be the sum of the next purchase cost , shipping charges, storage fees and insurance fee

Net purchase cost net of discount =  2,000 - 40= 1,960

Cost of inventory= 1,960 + 300 + 50 +100 =$2410

Cost of inventory = $2,410

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Gary and Houston have been running their own business for three years. When they started the business, they developed a guide fo
valentina_108 [34]

Answer: Strategic plan, tactical plan, operational plan

Explanation:

The names that he should use to refer to the guide is the strategic plan. The strategic plan is used to know the goals of an organization and the.needed strategies that'll enable the achievement of the goals.

The individual plans, refer to the tactical plans and it occurs after the strategic plan has been created. The tactical plan simply shows the steps that will be taken for the goals to be accomplished.

The plan to oversee other plans is the operational plan. The operational plan is drawn by the company in order to propel the company to be successful and achieve its goals.

7 0
3 years ago
After the Russian Empire developed into the communist Soviet Union, which of the following typified life for the common people?S
Diano4ka-milaya [45]

Answer:

Option A Low standard of living

Option C Food shortages

Option D No freedom of religion

Option E No freedom of speech

Explanation:

These were the results of communism in the Soviet Union, the productivity of employees fell below average country and the soviet union products lost its way which resulted in increase in unemployment, lower standard of living and food shortages. So as we know that the country which pursue communism in those times, they didn't gave any freedom of speech and and religion. So these were the losses to Soviet Union and its allies.

6 0
3 years ago
Pretend you make $500 worth of purchases on your credit card, your bill arrives saying your minimum payment due is $20, and you
nadya68 [22]

<u>Explanation:</u>

One may ask: what is a credit card? In simple words, a credit card is a payment instrument (plastic card) that allows the cardholder to spend money they don't personally own in their account.

Hence, A typical credit card statement would inform me that I made a purchase worth $500, stating

  1. The Payment Due Date: For example, it may be written that I must have made the credit balance by 31/12/XX. (Note, Failure to do so would in most cases lead to accruing of interest)
  2. The Minimum payment due: In this case, the $20 signifies a minimum payment that is significant enough to be recorded till the entire $500 balance is covered. However, it is not intended that only that amount be paid each month. If it were to be it would take me 25 months or 2 years 1 month ($500/$20) to complete the balance; which is not the best option likely considering the accrued interest to be paid.
8 0
3 years ago
Compute the Work-in-Process transferred to the finished goods warehouse on April 30 using the following information:
malfutka [58]

Answer:

$1,100

Explanation:

Computation for the Work-in-Process transferred to the finished goods warehouse on April 30

Work-In-Process Inventory, April 1 300

Direct materials used in production 225

Direct labor costs incurred 400

Manufacturing overhead costs 350

Less Work-In-Process Inventory, April 30 ($175)

Work-in-Process transferred to the finished goods warehouse $1,100

Therefore the Work-in-Process transferred to the finished goods warehouse on April 30 will be $1,100

4 0
3 years ago
Many developed countries have deindustrialized and are transitioning to a postindustrial economy. A. Identify and describe the e
ella [17]

In the post industrial economy,

A. the economic sector that is dominant when the country deindustrializes is the Tertiary industry:

  • quaternary and quinary
  • service job

Some of the jobs here require the tertiary form of education.

b. Two ways that countries transition to postindustrial economy are:

  • They make use of countries that have little government regulations and minimal taxes.
  • They use countries where trade unions are non existent.

c. A way that the roles of women get to change is through the reduction in the pay gap that exists between genders. Pay can also be raised for females.

d. Brownfields can be redeveloped in the following ways in the post industrial cities:

  • Recreational means: sports and entertainments.
  • Agriculture: Creation of urban farms and gardens.

<h3>What is a post industrial economy?</h3>

This is an economy that is said to have advanced from the manufacturing era into an era of production of services.

Read more on post industrial economy here: brainly.com/question/17965471

3 0
2 years ago
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