Answer
The answer and procedures of the exercise are attached in the following archives.
Step-by-step explanation:
Gross profit = Sales - Cost of goods sold
= (440 x 90 + 220 x 80 + 264 x 50) - (440 x 56.7 + 220 x 50.4 + 264 x 31.5)
= (39,600 + 17,600 + 13,200) - (24,948 + 11,088 + 8,316)
= 70,400 - 44,352
= $26,048
Ending inventory schedule attached in the excel archive
You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.
Answer:
<h2>1) The answer is option a) or True.</h2><h2>2) Generally all contracts are assumed to be <u>Shipment </u> contracts if nothing to the contrary is stated in the contract.</h2><h2>3) The seller is required to deliver the goods to a particular destination in a destination contract,usually directly to the <u>buyer</u>
<u>.</u></h2><h2>4) The answer is option a) or True.</h2><h2 />
Explanation:
- A shipment contract mandates that the seller of any good or service is obligated to deliver the specified shipment to a common carrier for delivery to the buyer but not directly to the buyer's destination.Under the shipment contracts,the seller is not responsible for the condition of the shipment or package during the delivery point and time to the buyer.
- If nothing is specifically mentioned in the contract regarding the delivery of the shipment,it assumably qualifies as a shipment contract and the seller is only liable to dispatch the shipment to the transportation carrier and not obligated to send it directly to the buyer's destination.
- Under a destination contract,the seller is officially obligated to dispatch the concerned goods or shipment directly to the buyer's actual destination.Hence,the seller's obligation is incomplete until the shipment subsequently reaches the buyer's destination.
- For destination contract,at the point of delivery,the burden of risk and title associated with the condition and ownership of the specified shipment is passed onto the buyer and seller is not officially or legally liable regarding the same.
Answer:
C: A road map.
Explanation:
Business plans are mapped out just like road map. Pinball machines and dreams are not mapped out and wish lists are just collections of things that you want while a business plan is a plan of action.
Hope this helps! :)
Answer: <em>$4. 71 hamburger and $6.29 French fries.
</em>
Explanation:
Total spendable income of Antonio = $11.00
1 hamburger = $1.50
1 order of French fries = $1.00
Utility maximization function: U(x1, x2) = x1x2 i.e. 1 hamburger and 2 orders of French fries
Using the Utility maximization function: U(x1, x2) = $1.50 + $2.00
= $3.50 per lunch
Therefore the customer will purchase hamburger worth of $(1.50 x 11.00/3.50) = $4. 71
And French fries orders worth of $(2.00 x 11.00/3.50) = $6.29
<em>Antonio will maximize his satisfaction by purchasing $4. 71 hamburger and $6.29 French fries.
</em>
Answer:
B. debit Cost of Goods Sold $ 4,500 and credit Finished Goods Inventory $ 4,500
Explanation:
The cost of goods sold will be 4,500 cost of the job 750
We are going to debit the cost of good sold for the amount it cost to make job 750
and credit the finished goods inventory as the amount of goods available for sale decreases.
When we sale we deliver an asset of ours (finished goods) thus, we have to make it decrease.
