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3 years ago

Reporting Net Sales with Credit Sales, Sales Discounts, and Credit Card Sales

Business

1 answer:

ser-zykov [4K]3 years ago

4 0

Answer:

Net sales $15,670

Explanation:

Computation of thenet sales for the two months ended August 31.

Sales revenue:

Sales Revenue

July 12 Merchandise Sold to Customer R $3,000

July 20 Merchandise Sold to Customer S $4,000

July 15 Merchandise Sold to Customer T $9,000

Total ($3,000+$4,000+$9,000) $16,000

Less:Sales discounts (270)

($9,000 collected from S x 3%)

Credit card fee ($60)

($3,000 from R x 2%)

Net sales $15,670

Therefore the net sales for the two months ended August 31 will be $15,670

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The increasing participation of women in the labor force has been termed the:

Effectus [21]

<span>Women participating in the labor force is known as shattering the glass ceiling. The term originated in the 1980s and refers to woman who are moving up in the business world.</span>

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3 years ago

Hamiter Framing's cost formula for its supplies cost is $1,640 per month plus $9 per frame. For the month of August, the company

yuradex [85]

Answer:

$6,788

Explanation:

The computation of the supplies cost in the planning budget is shown below:

= Supplies cost per month + number of frames in planned activity × per frame cost

= $1,640 + 572 frames × $9

= $1,640 + $5,148

= $6,788

We simply added the supplies cost and the planned frame cost so that the supplies cost for the planning budget could come

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3 years ago

Wheeler Company can produce a product that incurs the following costs per unit: direct materials, $11.00; direct labor, $25.00,

Oksi-84 [34.3K]

Answer:

$3.20 per unit

Explanation:

In this question, we have to compare the cost between two cases

In the first case, the total cost per unit would be

= Direct materials per unit + direct labor per unit + overhead cost per unit

= $11 + $25 + $17

= $53

In the first case, the total cost per unit would be

= Purchase price + overhead cost

= $48.55 + $17 × 45%

= $48.55 + $7.65

= $56.20

So, the difference would be

= $56.20 - $53

= $3.20 per unit

3 0

3 years ago

Which of the following is the main force behind the decisions made by

Darya [45]

Answer:

Which of the following is the main force behind the decisions made by

producers in a free-market society?

The profit motive

Explanation:

This best explains the reason behind monopoly, such producer decides everything in the market which makes the customers without any option than to buy. This makes the main objective in free-market society to be the profit motive.

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3 years ago

Jack owns a local trucking company. With fuel costs being expensive, Jack wants to evaluate how much fuel, on average, he should

Tcecarenko [31]

Answer:

C. ≈2,413 gallons

Explanation:

For computing the average inventory, first we have to determine the economic order quantity which is shown below:

= $\sqrt{\frac{2\times \text{Annual demand}\times \text{Ordering cost}}{\text{Carrying cost}}}$

= $\sqrt{\frac{2\times \text{90,000}\times \text{\$120}}{\text{\$0.927}}}$

= 4,827.1079 gallons

The carrying cost is

= Price of fuel × holding cost per unit

= $3.09 × 30%

= $0.927

Now the average inventory of fuel is

= Economic order quantity ÷ 2

= 4,827.1079 gallons ÷ 2

= 2,413 gallons

3 0

3 years ago