1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
gulaghasi [49]
3 years ago
10

The Raw Materials Inventory account had a balance of $13,463 on January 1. During the month of January, the company had the foll

owing transactions: 1. Purchased $12,481 of wool. 2. Purchased $15,327 of cotton. 3. Spent $312 on freight charges. 4. Received a discount of $153 for their cotton order. 5. Returned $1,722 of flawed polyester. 6. Used $8,318 of wool. 7. Used $16,964 of cotton. What is the balance of the Raw Materials Inventory account on January 31?
Business
1 answer:
scZoUnD [109]3 years ago
4 0

Answer:

$14,426

Explanation:

The balance on the inventory account on January 31 will be computed as follows:

Opening balance    =        $13,463

Wool purchase       =   +    $12,481

Cotton purchase    =   +    $15,327

Freight charges      =   +    $312

Cotton discount     =    -    $153

Polyester returns   =    -    $1,722

Wool used             =     -   $8,318

<u>Cotton used          =     -   $16,964</u>

<em><u>Balance Jan 31     =          $14,426</u></em>

You might be interested in
Cedric is planning to major in business management and would like to work for an international company someday. What program mig
borishaifa [10]
B

Definitely right

The city news stations gives the opportunity for them to learn about culture and trade in the business community.
6 0
1 year ago
Read 2 more answers
Longs Drug, a large U.S. drugstore chain operating primarily in Northern California, had sales per share of $122 in 1993, on whi
Vika [28.1K]

Answer:asdfghjkllkjhgfdsasdfghjk

Explanation:

8 0
3 years ago
Consider the following data, which shows the quantities and prices of two goods produced in the economy, to answer the following
maw [93]

Answer:

$250 million

Explanation:

Given that,

Cell phones:

Quantity produced = 5 million

Price per cell phone = $100

Pizza:

Quantity produced = 25 million

Price per pizza = $10

The market value of pizza is determined by the product of quantity produced and price of each pizza.

Market value of pizza:

= Quantity produced × Price per pizza

= 25 million × $10

= $250 million

8 0
3 years ago
The Comil Corporation recently purchased a new machine for its factory operations at a cost of $328,325. The investment is expec
Solnce55 [7]

Answer: 15%

Explanation:

IRR is the discount rate that makes the NPV equal zero. Required rates of return that are less than the IRR will therefore result in a positive NPV and those that are higher will result in a negative NPV.

Use Excel to find the IRR.

= IRR(-328325,115000,115000,115000,115000)

= 15%

As the required rate of 13% is less than the IRR of 15%, the new machine will have a positive NPV.

6 0
2 years ago
A restaurant sells pizza at a rate of $13.57/slice. Expenses for the restaurant include raw material for pizza at $8.57 per slic
Sladkaya [172]

Answer:

The restaurant need to sell 46.6 slices (47 slices)

Explanation:

Giving the following information:

The restaurant sells pizza at a rate of $13.57/slice. Expenses for the restaurant include raw material for pizza at $8.57 per slice, $172.00 as monthly rental and $61.00 monthly as insurance.

To calculate the break-even point in units, we need to use the following formula:

Break-even point= fixed costs/ contribution margin

Break-even point= (172 + 61) / (13.57 - 8.57)

Break-even point= 46.6 slices

8 0
3 years ago
Other questions:
  • What reason does Macbeth give for killing King Duncan's guards?
    14·1 answer
  • Two mining fields, Field A and Field B, of a coal mining company produce Lignite and Bituminous coal. The operating cost per day
    6·1 answer
  • Here are the 2015 revenues for the Wendover Group Practice Association for four different budgets (in thousands of dollars):
    11·2 answers
  • Telemarketers receive $15 commission on all new customers they sign up for cell phone service through Movill Networks. Each tele
    7·1 answer
  • A firm has borrowed $5,000,000 for 5 years at 10% per year compound interest (compounded yearly). The firm will make no payments
    11·1 answer
  • The first company to introduce a new product has an advantage in acquiring customers and in building brand loyalty.
    6·1 answer
  • Cathy's Towels sells three items (which it purchases from a supplier): bath towels, hand towels, and washcloths in a 4:3:2 mix (
    12·1 answer
  • A ______ inventory turnover ratio may result in a reduction in storage and obsolescence costs as well as reduced borrowing.
    7·1 answer
  • Which filter can be used to find a specific project when in the work area?
    13·1 answer
  • The Cardinal Company had a finished goods inventory of 55,000 units on January 1. Its projected sales for the next four months w
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!