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Sunny_sXe [5.5K]
2 years ago
6

Novak’s Market recorded the following events involving a recent purchase of inventory: Received goods for $112000, terms 2/11, n

/30. Returned $2200 of the shipment for credit. Paid $400 freight on the shipment. Paid the invoice within the discount period. As a result of these events, the company’s inventory increased by $110200. increased by $107604. increased by $108004. increased by $107996.
Business
1 answer:
Arte-miy333 [17]2 years ago
5 0

Answer:

Option (C) is correct

Explanation:

The payment is made during the discount period of 11 days so the 2% discount rate would be applicable.

Goods purchased =   $112,000

Goods returned = $2,200

Discount =   (Goods purchased - goods returned) × 2%

               = ($112,000 - $2,200) × 2%

               = $2,196

Net purchase = Goods purchased - returned - Discount

                       = $112,000 - $2,200 - $2,196

                       = $107,604

Total inventory cost = Net purchase + Freight cost

                                 = $107,604 + $400

                                 = $108,004

Therefore, company’s inventory increased by $108,004.

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Generally, the administration of an oligopolistic company will carry out "socially conscious" practices, because this differentiation between the other companies would lead to higher than normal profits.

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Cotton White, Inc., makes specialty clothing for chefs. The company reported the following costs for 2018: Factory rent $ 42,000
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Answer:

Results are below.

Explanation:

<u>1) Direct materials are those materials and supplies that are consumed during the manufacture of a product, and which are directly identified with that product.</u>

<u></u>

Direct material= Thread + Premium quality cotton material + Buttons

Direct material= 1,000 + 42,000 + 750

Direct material= $43,750

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Direct labor= Wages paid to seamstresses  + Wages paid to cutters Direct labor= 75,000 + 50,000

Direct labor=  $125,000

<u>3) Manufacturing overhead refers to indirect factory-related costs that are incurred when a product is manufactured</u><u>.</u>

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Manufacturing overhead= 42,000 + 22,000 + 30,000 + 15,000 + 6,000

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3 years ago
What are the portfolio weights for a portfolio that has 185 shares of Stock A that sell for $64 per share and 115 shares of Stoc
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The portfolio weights for a portfolio that has 185 shares of Stock A that sell for $64 per share is: 0.6775; 0.3325.

<h3>Portfolio weight for each stock</h3>

First step

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Second step

Portfolio weight for each stock is:

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Therefore the portfolio weights for a portfolio that has 185 shares of Stock A that sell for $64 per share is: 0.6775; 0.3325.

The portfolio weights for a portfolio that has 185 shares of Stock A that sell for $64 per share is: 0.6775; 0.3325.

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