What is the cost that changes as the level of production changes?

At the beginning of July, CD City has a balance in inventory of $2,550. The following transactions occur during the month of Jul

Gemiola [76]

Answer:

Inventory 1450 debit

Accounts Payable 1450 crdit

--to record purchase--

Inventory 120 debit

Cash 120 credit

--to record payment of freights--

Accounts Payable 400 debit

Inventory 400 credit

--to record returned goods--

Accounts Payable 1050 debit

Inventory 21 credit

Cash 1029 credit

--to record payment within discount--

Accounts Receivables 4100 debit

Sales Revenues 4100 credit

--to record sale--

COGS 2150 debit

Inventory 2150 credit

--to record COGS of the previous sale--

Cash 4,100

Accounts Receivables 4100

--to record collection--

Explanation:

For the purchase we must adjust teh invoice nominal as we are paying within the discount windows and also, there was returned goods.

Balance of the account payable:

1450 - 400 return = 1050

Then 2% discount: 1,050 x 0.02 = 21

Cash payement: 1,050 - 21 = 1,029

The sale do not have credit terms for discount neither a return thus, we don't have to make any adjustment to the invoice nominal the customer pay that amount.

3 0

3 years ago

Read 2 more answers

2. In 2016; the cost of a market basket of goods was $2,000. In 2018, the cost of the same market basket of goods was

GREYUIT [131]

Answer:

105

Explanation:

base year = 2016

cost of market basket of goods in base year = $2,000

CPI for base year = 100

year 2018

cost of market basket of goods in 2018 = $2,100

CPI for 2018 = (cost of basket of goods in 2018 / cost of basket of goods in base year) x 100 = ($2,100 / $2,000) x 100 = 105

7 0

3 years ago

Runnin' Wild Family Fun Center bought new go-karts for its recreation facility. The useful life is 6 years. The go-karts had a t

yan [13]

Answer:

The payback period in years is closest to;

B). 3.00

Explanation:

<em>Step 1: Determine the total cost of the go-kart</em>

Using the expression;

Total cost=purchase cost+annual depreciation×number of years

where;

purchase cost=$5,100

assume annual depreciation=0

number of years to payback=n

replacing;

Total cost=5,100+(0×n)=5,100

<em>Step 2: Total cash inflows</em>

Total cash inflows=(1,700×n)=1,700 n

<em>Step 3: Determine payback period</em>

Equate total cost to total cash inflows

5,100=1,700 n

n=5,100/1,700

n=3

The payback period in years is closest to 3 years

3 0

4 years ago

The university of texas and texas a & m university systems get large sums of money for their endowments from oil and gas roy

maksim [4K]

This is true. The university of Texas and Texas a & m university systems get large sums of money for their endowments from oil and gas royalties.

<h3>What is the meaning of royalties?</h3>

This is the term that is used to refer to the sum of paid due to the fact that something was sold. It is the money that the university would get due to the fact that they sold oil and oil products in the state. Texas is a very rich oil state.

Hence we can say that: This is true. The university of Texas and Texas a & m university systems get large sums of money for their endowments from oil and gas royalties.

Read more on Texas oil and gas royalties here: brainly.com/question/14531250

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3 0

2 years ago

Melanie works for a small computer software company. Her boss is constantly improving its products but neglecting customers, bil

Anon25 [30]

Answer: production-oriented

Explanation:

production-oriented marketing is a marketing strategy in which the company only focuses on producing quality product without considering customer's need. Such strategy makes them believe that customers will come for their product once they can produce the best quality, so they produce as many quality units as possible, such a company is termed to be production oriented.

3 0

3 years ago