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nika2105 [10]
3 years ago
9

A school's band members raised money by selling magazine subscriptions and shirts. Their profit from selling shirts was $\$5$ pe

r shirt minus a one-time $\$40$ set-up fee. Their profit from selling magazine subscriptions was $\$4$ per subscription. They made exactly the same profit from shirts as they did from magazines. They also sold the same number of shirts as magazine subscriptions. How many shirts did they sell?
Business
1 answer:
Savatey [412]3 years ago
7 0

Answer:

They sold 40 shirts and 40 magazine subscriptions.

Explanation:

profit per shirt = $5

set up costs = $40

profit per magazine = $4

S = shirts

C = setup costs

M = magazine

5S - C = 4M

S = M so we replace

5S - 40 = 4S

5S - 4S = 40

S = 40

They sold 40 shirts and 40 magazine subscriptions.

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2 years ago
On December 31, 20X9, Pluto Company acquired 100 percent of Saturn Corporation's common stock for $300,000. Balance sheet inform
maw [93]

Answer:

The $60,000 amount of inventory  will be included in the consolidated balance sheet immediately following the acquisition

Explanation:

According to the accounting principles, the inventory is recorded at the cost or fair market value whichever is lower.

The inventory balance which is given in the balance sheet is $75,000

And, its fair market value is $60,000

So, the inventory would be recorded at 60,000

The other items which are given in the question are irrelevant. Therefore, we don't consider them in the computation part. Thus, we ignored them.

Hence, the $60,000 amount of inventory  will be included in the consolidated balance sheet immediately following the acquisition

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3 years ago
• define the market process, the command process, and the traditional process. How does each process deal with the basic questio
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4 0
2 years ago
Department G had 3,600 units, 40% completed at the beginning of the period, 12,000 units were completed during the period, 2,000
serious [3.7K]

Answer:

<u>Equivalent Units Materials    10400      </u>

<u>   Equivalent Units  Conversion 10960     </u>

<u>Cost Per Equivalent Unit   Materials      $9.8365 </u>

<u>Cost Per Equivalent Unit D.  Labor      $ 7.2810 </u>

<u>Cost Per Equivalent Unit    FOH     $ 2.2992</u>

Explanation:

Particulars       Units        % of Completion               Equivalent Units

                                      Materials Conversion      Materials Conversion

Complete     12000        100          100                12000         12000

Add EWIP     2000        100           20                 2000             400

<u>Less BWIP    3600        100           40                 3600            1440         </u>

<u>Equivalent Units                                                  10400         10960     </u><u> </u>

<u />

<em><u>In FIFO as the name suggests we take out the units first completed. So we deduct the Beginning Work in Process (BWIP) from the sum of completed units and ending work in process (EWIP).</u></em>

<em />

Costs added during period: Direct materials  Direct labor  Factory overhead                          

                                   (10,400 at $9.8365)

                                                102,300          79,800          25,200

<u>Equivalent Unit                         10400           10960           10960</u>

<u>Cost Per Equivalent Unit         $9.8365        7.2810          2.2992</u>

<u />

<u />

3 0
3 years ago
Prepare Krum Co.'s journal entries to record the following transactions involving its short-term investments in available-for-sa
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Answer and Explanation:

The journal entries are shown below:

On Aug 1

Short­-term investments $70,000  

        To Cash $70,000

(Being the short term investment is recorded)

Here short term investment is debited as it increased the asset and credited the cash as it decreased the asset

On Oct 30

Cash ($70,000 × 11% × 90 days ÷ 360 days) 1,925  

       To Interest revenue $1,925

(Being the interest revenue is recorded)

here cash is debited as it increased the asset and credited the interest revenue as it also increased the revenue

Here we assume 360 days in a year

6 0
2 years ago
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