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3 years ago

7

ÂOaktree, Inc. is a merchandiser of inlaid wooden boxes. The company sold 7,500 units during the year. The company has provided

the followingâ information:
Sales Revenue $566,000
Purchasesâ (excluding freightâ in) 305,000
Selling and Administrative Expenses 68,000
Freight In 13,000
Beginning Merchandise Inventory 45,000
Ending Merchandise Inventory 42,000

What is the cost of goods sold for theâ year?

A. $320,000
B. $362,000
C. $305,000
D. $318,000

1 answer:

MA_775_DIABLO [31]3 years ago

7 0

Answer:

correct answer is A. $320,000

Explanation:

given data

sold = 7,500 units

Sales Revenue = $566,000

Purchases= 305,000

Selling and Administrative Expense = 68,000

Freight In = 13,000

Beginning Merchandise Inventory = 45,000

Ending Merchandise Inventory = 42,000

solution

we know that gross profit is equal to Sales minus Cost of goods sold .......1

so first we get here gross profit that is

gross profit = ( sales revenue + ending inventory ) - ( beginning inventory + purchase + freight in ) .........1

gross profit = ( $566,000 + $42000 ) - ( $45000 + 305000 + $13000 )

gross profit = $245000

so cost of good sold will be from equation 1

cost of good sold = $566,000 - $245000 = 321000 so approx

so correct answer is A. $320,000

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Suppose the following information: The cost of a full-page color ad in the U.S. national edition of The Wall Street Journal (new

lawyer [7]

Answer:

E) Super Bowl

Explanation:

For computing the lowest CPM we need to do the following calculations

(a) (b) (a ÷ b)

Particulars U.S. national edition U.S. audience size CPM

Wall streel Journal $327,897 $1,566,027 20.94%

USA today $207,720 $1,711,696 12.14%

Bloomberg

Businessweek $148,300 $900,000 16.48%

Sports Illustrated $396,600 $3,000,000 13.22%

Super Bowl telecast $3,800,000 $108,400,000 3.51%

As we can see from the above calculations that the super bowl has the lowest CPM

hence, the option E is correct

3 0

3 years ago

Universal Foods issued 10% bonds, dated January 1, with a face amount of $260 million on January 1, 2018. The bonds mature on De

kondaur [170]

Answer:

The bonds were issued at $220,879,628.13

This is lower than the face value to compensate for the lower coupon payment.

cash 220,879,628.13 debit

discount on BP 39,120,371.87 debit

bonds payable 260,000,000 credit

--to record the issuance of the bonds--

Interest expense 13,252,777.69 debit

Discoun on BP 252,777.69 credit

cash 13,000,000 credit

--to record the first interest payment--

Interest expense 13,267,944.35 debit

Discount on BP 267,944.35 credit

Cash 13,000,000 credit

--to record second interest payment--

Interest expense 13,539,156.67 debit

Discount on BP 539,156.67 credit

cash 13,000,000.00 credit

--to record Dec 31st, 2025 payment--

Explanation:

To determinate the price we will solve for the present value of the coupon payment and maturity at the market rate of %12

$C \times \frac{1-(1+r)^{-time} }{rate} = PV\\$

Coupon payment:

260,000,000 x 10% x 1/2 =13,000,000.000

time 20 years x 2 payment per year 40

yield to maturity 12% / 2 = 6%

$13000000 \times \frac{1-(1+0.06)^{-40} }{0.06} = PV\\$

PV $195,601,859.3298

$\frac{Maturity}{(1 + rate)^{time} } = PV$

Maturity 260,000,000.00

time 40.00

rate 0.06

$\frac{260000000}{(1 + 0.06)^{40} } = PV$

PV 25,277,768.80

PV c $195,601,859.3298

PV m $25,277,768.8042

Total $220,879,628.1340

For the journal entries, we will multiply this current market price of the bonds by the market rate (YTM) the difference between this and the actual cash obligation generate by the bond is the amortization of the discount.

<u>first interest payment </u>

$220,879,628.13 x 6% = 13,252,777.69

less actual cash outlay: 13,000,000

amortization 252,777.69

<u>second interest payment</u>

($220,879,628.13- $252,777.69) x 6% = 13,267,944.35

less actual cash outlay: <u> 13,000,000.00</u>

amortization 267,944.35

December 31st, 2025:

This will be payment 14th

after building the schedule until that date we got:

8 0

3 years ago

In the short run, expansionary monetary policy ___________ real gross domestic product (GDP), ___________ unemployment, and ____

iren2701 [21]

Answer:

a.raises; lowers; raises

Explanation:

An expansionary monetary policy is usually undertaken by the Central bank to increase money supply.

When money supply is increased, output increases and real GDP rises.

The rise in money supply which causes output to increase would lead to an increase in demand for Labour. This would reduce unemployment.

Because of rise of money supply, the supply of money in the economy would rise and the price level would rise.

I hope my answer helps you.

5 0

3 years ago

Match the items according to their impact on aggregate demand (AD).

postnew [5]

Answer:

A recession occurring in a trading partners economy

8 0

2 years ago

When the store hires two workers, they are able to serve 16 customers per hour. When the store hires three workers they are able

kotegsom [21]

Answer: $24

Explanation:

Given that,

Two workers serve = 16 customers per hour

Three workers serve = 22 customers per hour

Each customer spends an average of $4 in the store.

Total revenue from Two workers = 16 × $4

= $64

Total revenue from Three workers = 22 × $4

= $88

Therefore, the marginal benefit of hiring the third worker would be:

= Total revenue from Three workers - Total revenue from Two workers

= $88 - $64

= $24

7 0

4 years ago