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3 years ago

A warranty of title does not arise automatically under a contract for a sale of goods.

1 answer:

4 0

The answer is it depends if the seller is the owner or a representative of the seller.

The answer is True if the seller is the one selling the product. The warranty of title is added automatically once the purchase is made. But in the situation wherein the seller had asked someone to represent him, then the title would not be automatically be added.

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The Quaint Quilt produces and sells handmade quilts. Variable manufacturing costs total $140 per quilt. Fixed manufacturing over

alexgriva [62]

The total variable cost reported on Quaint Quilt's variable costing income statement is: $124,020

Calculation to determine the total variable costing income statement

Using this formula

Variable costing income statement=(Variable manufacturing costs+Variable selling and administrative costs )×Sales

Let plug in the formula

Variable costing income statement($140 + $19) x 780 quilts sold

Variable costing income statement=$159×780 quilts sold

Variable costing income statement=$124,020

Inconclusion The total variable cost reported on Quaint Quilt's variable costing income statement is: $124,020.

Learn more here:

brainly.com/question/13214374

4 0

2 years ago

Using the information provided, analyze the affects of Lawry Lawn Service's transactions on the accounting equation.

Arlecino [84]

Answer:

Common Stock $3,400 (credit)

Mower $1,600 (debit)

Revenue Service $1,000 (credit)

Cash $2,600 (debit)

Gas Expense $100 (debit)

Dividends $0

Explanation:

See below the posting i have done to the ledger accounts.

Mower T - Account

Debit :

Accounts Payable $1,600

Credit :

Balance c/d $1,600

Revenue Service T - Account

Debit :

Balance c/d $1,000

Credit :

Account Receivable $1,000

Cash T - Account

Debit :

Common Stock $3,400

Credit :

Gas Expense $100

Dividends $700

Balance c/d $2,600

Gas Expense T - Account

Debit :

Cash $100

Credit :

Balance c/d $100

Dividends - T Account

Debit :

Shareholders for dividends $700

Credit :

Cash $700

7 0

3 years ago

Storm Concert Promotions Valle Home Builders Actual indirect materials costs$12,400 $7,000 Actual indirect labor costs 55,900 46

Minchanka [31]

Answer and Explanation:

Storm Concert Promotions

The computation of overhead is shown below:-

Factory Overhead-Storm

Indirect materials $12,400 Applied overhead 91,600

Indirect Labor $55,900

Other overhead

costs $16,000

Overapplied overhead $7,300

The Journal entry is shown below:-

Factory overhead Dr, $ 7,300

To Cost of goods sold $7,300

(Being cost of goods sold is recorded)

Valle Home Builders

The computation of overhead is shown below:-

Factory Overhead-Value home builders

Indirect materials $7,000 Applied overhead 98,300

Indirect Labor $46,900

Other overhead

costs $48,900

Overapplied overhead $4,500

Factory overhead Dr, $ 4,500

To Cost of goods sold $4,500

(Being cost of goods sold is recorded)

5 0

3 years ago

Rex became a partner with a 30% interest in the partnership profits when he invested $200,000. In 2019, the partnership generate

avanturin [10]

Answer:

The Rex’s gross income from the partnership in 2019 and 2020 is $1,20,000 and $1,80,000 respectively

Explanation:

The computation of the gross income for each year is shown below:

In 2019:

Gross income = Taxable income × percentage of interest in profits

= $400,000 × 30%

= $1,20,000

In 2020:

Gross income = Taxable income × percentage of interest in profits

= $600,000 × 30%

= $1,80,000

The withdrawn amount is not consider for computing the gross income. So, we ignored it

8 0

3 years ago

Sheela Dairy Corporation buys unprocessed cows' milk from local farmers. At the dairy, this unprocessed milk is broken down into

Dafna11 [192]

Answer:

The answer is D) None of these statement is relevant in the decision to further process the cream into butter.

Explanation:

option A) the amount paid to the farmers to purchase the unprocessed milk: this information is not relevant to further develop the cream and low fat milk to butter. It was already considered before this stage of production.

Option B) the cost of breaking down the unprocessed milk into cream and low-fat milk: this cost was already accounted for since the processing into cream and low fat milk is completed.

Option C) the portion of corporate fixed expenses that are currently being allocated to cream: This information is not going to help in the decision making for further processing.

8 0

3 years ago