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ExtremeBDS [4]
3 years ago
8

A car dealer acquires a used car for $12,000, with terms FOB shipping point. Compute total inventory costs assigned to the used

car if additional costs include:
$100 for transportation-in.
$170 for shipping insurance.
$800 for car import duties.
$140 for advertising.
$1,400 for sales staff salaries.
$150 for trimming shrubs.

Required:
For computing inventory, what cost is assigned to the used car?
Business
1 answer:
ivanzaharov [21]3 years ago
7 0

Answer:

$13,070

Explanation:

The Cost of inventory according to IAS 2 include all cost of purchase, cost of conversion and other cost incurred in bringing the inventory to their present location and condition.

<u>Calculation of Inventory Cost</u>

Cost of Purchase $12,000

Transportation-in       $100

Shipping insurance    $170

Car import duties      $800

Total Cost              $13,070

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c. Describe the role a sales person would play in selling this type of product. How much help would customers be likely to need
arlik [135]

Answer:

They would help the product that they are selling sell better and would provide examples that would help the product sell better. The better the product sells the better the sales person gets paid. they would likely need not much help sense a sales person is mostly just for the company to sell their product or service well.

Explanation:

I hope this helped

4 0
2 years ago
use the accounting equation to solve for the missing information. 2. did jacob's overhead doors report net income or net​ loss?
vichka [17]

Total assets 44900    

Less: Liablities 14,550

Total Owner's equity 30,350    

Less: Owner's capital 30,670

Add: Drawings 7,500    

Less: Revenues 8,850

Expense  1,670

Assets   =Liabilities +Owner's-Drawings+Revenues-Expense capital

               44,900 = 14,550 + 30,670- 7,500 + 8,850 - 1,670
2. Jacob states a profit of $7,180

Net Income = Revenues – Expenses
= 8850–1670 = 7180

  • Equipment, real estate, raw materials, and inventories are examples of tangible assets. Intangible assets include things like royalties, patents, and other intellectual property.
  • The amount earned by an individual or corporation after costs, allowances, and taxes is referred to as net income. Net income in company is the amount that remains after all costs, such as salaries and wages, the cost of goods or raw materials, and taxes, have been paid.

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7 0
1 year ago
Many fast-food restaurants compete on lean business concepts. Match each of the following activities at a fast-food restaurant w
yawa3891 [41]

Answer:

1. C.

2. A.

3. B.

4. C.

5. A.

6. C.

7. B and C.

8. B.

9. A and B.

10. C.

Explanation:

1. Courteous employees is a total quality management (TQM).

2.  Food produced to order is a just-in-time (JIT).

3. New product development is a continuous improvement (CI).

4. Clean tables and floors is a total quality management (TQM).

5. Orders filled within three minutes is a just-in-time (JIT).

6. Standardized food making processes is a total quality management (TQM).

7. Customer satisfaction surveys is both a continuous improvement (CI) and total quality management (TQM).

8. Continually changing menus is a continuous improvement (CI).

9. Drive-through windows is both a just-in-time (JIT) and continuous improvement (CI).

10. Standardized menus from location to location is a total quality management (TQM).

A lean business is a business concept used by organizations to eliminate waste and maximize value for growth and development. The lean business concept include the following;

<em>A total quality management (TQM) is a management framework that is focused on achieving long-term success through the satisfaction of your customers by the efforts of all the member of staff in an organization.</em>

<em>Just-in-time (JIT) is a management framework that is focused on cutting manufacturing costs and increase efficiency between suppliers and consumers through the use of a proper inventory system.</em>

<em>A continuous improvement (CI) is a management technique that is focused on improving manufacturing processes, products and services through the elimination of redundancy and time-wasting activities in an organization. </em>

5 0
3 years ago
If Randy invests $15,000 at a 9% interest
WITCHER [35]

It will take 8.04 years for the initial investment of $15000 to become $30,000

What is the future value of an investment?

The future value of $15,000 invested now earning a rate of return of 9% per year is $30,000, it the future equivalent of an amount invested now when the invested amount has earned interest over a specific period of time.

The below future value formula of single cash flow can be used to determine the number of years it takes for the initial investment to double.

FV=PV*(1+r)^N

FV=future value=$30,000

PV=initial investment=$15,000

r=rate of return=9%

N=number of years it takes for the initial investment to double=unknown(assume it is X)

$30,000=$15000*(1+9%)^N

$30000/$15000=(1+9%)^N

2=1.09^N

take log  of both sides

ln(2)=N*ln(1.09)

N=ln(2)/ln(1.09)

N=8.04 years

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8 0
2 years ago
Scribd in the marketplace of today, ________ are the primary means of socializing companies and brands.
MrMuchimi

The answer is: Social networks and related tools

Social media and other related tools allow the companies to provide information regarding their products to a wide variety of consumers segmentation with relatively cheaper price. Due to the low barrier of entry, small businesses often find easier success in marketing through these mediums rather than using traditional media.

4 0
2 years ago
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