The inventory indicates that the cost of goods sold will be $25000.
<h3>How to calculate the cost of goods sold</h3>
It should be noted that the cost of goods sold ic calculated through the formula:
= Opening inventory + Purchases - Closing inventory
= $10000 + $20000 - $5000
= $25000
Therefore, the cost of goods sold is $25000.
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Answer:
$63,000
Explanation:
The computation of cases of cola were completed and transferred to Finished Goods Inventory during January is shown below:-
Completed and transferred to finished goods inventory is
= Case of cola as on Jan 1 work in process + completed & transferred out - ending work in process as on Jan 31
= $5,000 + $65,000 - $7,000
= $63,000
Hence, the number of cases of cola is $63,000
Answer:
the deductible loss on the car is $12,000
Explanation:
The computation of the Jim deductible loss on the car is shown below:
Given that
Car value = $40,000
Insurance recovery = 70%
Now the deductible loss is
= Car value - (car value × insurance recovery)
= $40,000 - ($40,000 × 70%)
= $40,000 - $28,000
= $12,000
hence, the deductible loss on the car is $12,000
The answer is A. Early payment
In Cash discounts, buyers will have the incentive to reduce the amount owed to the seller if they pay their liability faster than the Deadline
For example, the sellers can offer a 2 % discounts if the buyers make a payment within 10 days, while the actual deadline is 30 days
A <u>practical</u> standard is the quantity of material required if the process is 100fficient without any loss or waste.
Sensible requirements are the requirements that are set for everyday working conditions. They account for reasonable and unavoidable wastages which are part and parcel of the normal manufacturing manner. Practical standards remember the effect that factors along with machine preservation and maintenance time, everyday employee breaks, etc.
Perfect requirements aren't practical standards, apart from in the very quick run, and are consequently of little use for control wherein their use will be very demotivating for employees. Achievable standards constitute what will be done with a reasonable degree of effort below ordinary working situations.
Ideal preferred costs, those preferred expenses constitute the best overall performance. They assume 100% efficiency, that there are no losses or idle time. They constitute the minimal charges that are feasible below the maximum efficient running situations.
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