Answer:
$4,850
Explanation:
If the total invoice price is $5,000 and the company pays within the discount period, then the net price = $5,000 x (1 - 3%) = $4,850
the journal entries should be as follows:
Day 1, merchandise is purchased with 3/10, n/30 terms:
Dr Merchandise inventory 5,000
Cr Accounts payable 5,000
Day 10, the invoice is paid:
Dr Accounts payable 5,000
Cr Cash 4,850
Cr Purchase discounts 150
Answer and Explanation:
The computation is shown below:
But before that first determine the predetermined overhead cost which is
= Estimated total manufacturing cost ÷ estimated labor hours
= $359,640 ÷ $9,990
= $36 per hour
Now the total cost is
= Direct material + direct labor + manufacturing overhead
= $25,500 + 1,700 × $10 + $1,700 × $36
= $25,500 + $17,000 + $61,200
= $103,700
Now the bid price is
= Job cost - markup profit
= $103,700 - $103,700 × 31%
= $103,700 - $32,147
= $135,847
Answer:
$13232.50 should be set aside each year
Explanation:
given data
save = $2 million
by time = 65 year
today age = 22
interest rate = 5%
to find out
how much must you set aside each year to make sure that you will have $ 2 million
solution
we know here number of payment will be
no of payment = 65 - 22 + 1
+1 is add here because 1st payment is today
no of payment = 44
so future value formula is
future value = present payment .............1
put here value here r is rate and t is no of payment
$2 million = present payment
present payment = 13232.50
so $13232.50 should be set aside each year
Answer:
Primary data
Explanation:
Researchers obtain information about a particular subject in order to identify a certain pattern in the popular under study.
They obtain information in two forms: primary data and secondary data.
Primary data is obtained from the original source that is affected by an event. While secondary data is obtained from primary data that was initially collected.
In the give scenario to determine the reasons for the decreased sales of a line of fishing equipment at Wishin' I Were Fishin' stores. Researchers spoke to customers at the outdoor sporting goods store as well as at competitors' stores.
They went to the actual people that had an opinion on the subject matter, so the information is primary data
Answer:
See the description as below
Explanation:
First we would see that the proper shipping name is the key to determine how packages for hazardous materials are selected, marked, and labeled; the vehicle is correctly placarded; and the shipment is correctly documented. Proper shipping name is the standard technical name to describe the hazard properties and the composition of dangerous goods. You need to choose a UN number (usually, 4 digits) and a proper shipping name from Dangerous Goods.
The basic description of a hazardous material includes the Identification Number, the Proper Shipping Name, Hazard Class and Packing Group (when applicable). This information is required to be placed on the shipping paper in a specific order
An easy way to remember the sequence is to use the acronym “ISHP”: I-Identification Number, S-Proper Shipping Name, H-Hazard Class or Division, and P-Packing Group.
For a hazardous substance shipment, the letters 'RQ' must be entered on the shipping paper. Enter 'RQ' before or after the basic description for each hazardous substance. If the material contains two or more hazardous substances, at least the two hazardous substances with the lowest 'RQ' must be identified. RQ means Reportable Quantity, when a hazardous material is being shipped in a reportable quantity of greater, the shipper must display the letters RQ must be displayed on the shipping paper