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Tems11 [23]
2 years ago
11

At the beginning of the year, TRK started with $15,000 in beginning inventory. Throughout the period, TRK purchased $40,000 wort

h of inventory, negotiated $2,000 of purchase allowances, returned $500 of inventory, received a $5,700 purchase discount for paying early and paid $300 in shipping charges for their inventory. Given this information, determine goods available for sale.
Business
1 answer:
serious [3.7K]2 years ago
8 0

Answer:

$47,100

Explanation:

The cost of goods available for sale is the sum of the opening balance and the net purchases during the period.

The net purchases is the difference between the total purchases and the allowances and discounts and returns.

Hence,

Cost of goods available for sale

= $15,000 + $40,000 - $2,000 - $500 - $5,700 + $300

= $47,100

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Sales revenue$ 4,000Purchases of direct materials$ 400Direct labor$ 450Manufacturing overhead$ 620Operating expenses$ 650Beginni
djyliett [7]

Answer:

Direct material used= $420

Explanation:

Giving the following information:

Sales revenue= $4,000

Purchases of direct materials= $400

Direct labor= $450

Manufacturing overhead= $620

Operating expenses= $650

Beginning raw materials inventory= $200

Ending raw materials inventory= $180

Beginning work in process inventory= $320

Ending work in process inventory= $410

Beginning finished goods inventory= $250

Ending finished goods inventory= $200

Direct material used= ?

Direct material used= beginning inventory raw material + purchase - ending inventory raw material

Direct material used= 200 + 400 - 180= $420

5 0
2 years ago
Buying food to feed your family, a lawn mower to care for your lawn, or a car to drive yourself to work are purchases with what
Nata [24]

Answer:

Rational Motive

Explanation:

A rational motive is the willingness to make an action based on logical and rational criteria

4 0
2 years ago
Section 103 of the Federal Public Works Employment Act establishes the Minority Business Enterprise program and requires that, a
EastWind [94]

Explanation:

Looking from a fair point of view, the White owners of businesses have legitimate reasons to feel that the Act constitutes illegal reverse discrimination.

Remember, reverse discrimination implies an unfair treatment of the majority group (White owners) in an effort to please the minority group. This is evident from the fact that the 10 percent of all federal grants to be released by the Economic Development Administration was only to be used to purchase services or supplies from businesses owned and controlled by U.S. citizens belonging to one of six minority groups excluding the White business owners; making the White owners feel discriminated against.

Thus, unintentionally the Act became a reverse discrimination on White business owners.

3 0
2 years ago
Cost of common stock: Whitewall Tire Co. just paid a $1.60 dividend on its common shares. If Whitewall is expected to increase i
krek1111 [17]

Answer:

Cost of common stock for Whitewall is 16.00%

Explanation:

Ke = D1 / Price +g

D1 = Ke (Price + g)

D1 = $1.60 * (1+0.02)

D1 = $1.60 * (1.02)

D1 = $1.632

Ke = D1 / Price +g

We solve for Current dividend to derive the Cost of common stick  

Ke = 1.632 / (11.66) + 2%

Ke =  1.632 / 11.66 + 0.02

Ke =  0.139966 + 0.02

Ke =  0.159966

Ke =  15.9966%

Ke =  16.00%

3 0
3 years ago
Alliance Company budgets production of 24,000 units in January and 28,000 units in the February. Each finished unit requires 3 p
Eddi Din [679]

Answer:

Total direct material needed in pounds= 101,400 pounds

Explanation:

Giving the following information:

Each finished unit requires 3 pounds of raw material K that costs $3.00 per pound.

Each month's ending raw materials inventory should equal 35% of the following month's budgeted materials.

The January 1 inventory for this material is 25,200 pounds.

Production:

January= 24,000 units

February= 28,000 units

<u>Direct material budget:</u>

Production= 24,000*3= 72,000 pounds

Desired ending inventory= (28,000*0.35)*3= 29,400 pounds

Total direct material needed in pounds= 101,400 pounds

Purchases= production + desired ending inventory - beginning inventory

Purchases= 101,400 - 25,200

Purchases= 76,200 pounds

Direct material purchase cost= 76,200*3= $228,60

3 0
2 years ago
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