Lito is working with a discount broker.Which service would Lito not be likely to receive?

The cost accountant for Angie’s Apparel has compiled the following information for last month's operations. Administrative costs

morpeh [17]

Answer:

Given that,

Administrative costs = $72,000

Merchandise inventory, July 1 = 28,000

Merchandise inventory, July 31 = 25,000

Merchandise purchases = 630,000

Sales commissions = 43,500

Sales revenue = 944,000

Store rent = 13,900

Store utilities = 3,100

Transportation-in costs = 5,300

1. Cost of goods sold statement:

For the Month Ended July 31,

Total cost of goods purchased = Merchandise purchases + Transportation-in

= 630,000 + 5,300

= $635,300

Cost of goods available for sale = Merchandise inventory, July 1 + Total cost of goods purchased

= 28,000 + $635,300

= $663,300

Cost of goods sold = Cost of goods available for sale - Merchandise inventory, July 31

= $663,300 - $25,000

= $638,300

2. Income statement:

For the Month Ended July 31,

Gross margin = Sales revenue - Cost of goods sold

= 944,000 - $638,300

= $305,700

Marketing and administrative costs = Administrative costs + Sales commissions + Store rent + Store utilities

= $72,000 + $43,500 + $13,900 + $3,100

= $132,500

Operating profit = Gross margin - Marketing and administrative costs

= $305,700 - $132,500

= $173,200

4 0

2 years ago

Diamond Boot Factory normally sells their specialty boots for $26 a pair. An offer to buy 70 boots for $18 per pair was made by

xxTIMURxx [149]

Answer:

Diamond Boot Factory

Differential income per pair of boots from accepting the special order is:

= $7.00.

Explanation:

a) Data and Calculations:

Selling price of specialty boots = $26 a pair

Variable cost per boot = $9

Special offer for 70 boots at $18 per pair

Additional stitching cost = $2

Total variable cost for the special order = $11 ($9 + $2)

Revenue from the special order = $1,260 ($18 * 70)

Variable cost for the special order 770 ($11 * 70)

Differential income = $490 ($7 * 70)

8 0

2 years ago

Major Manuscripts, Inc., is currently operating at 70 percent of capacity. All costs and net working capital vary directly with

bagirrra123 [75]

The attached data is required to answer the question

Answer:

$535

Explanation:

In this scenario we need to calculate the additional debt required by Major Manuscript

We expect an increase of 10% of sales

Therefore

Total assets projected = 9,420 * 1.10 = $10,362

Accounts payable projected = 2,200 * 1.10 = $2,420

Current long term debt = $260

Current common stock = $2,400

Retained earnings projected = 4,560 +{(360 - 190) * 1.10} = $4,747

Additional debt required = 10,362 - 2,420 - 260 - 2,400 - 4,747

Additional debt required = $535

6 0

2 years ago

Which type of graphic organizer would best organize your notes on how to start a small business?

Dimas [21]

My best guess is a timeline!

4 0

3 years ago

Benefits are offered by employers to attract good employees.<br> a. True<br> b. False

elena55 [62]

True.
Companies offers benefits to be able to attract good employees.
As an employee I am aware that most of the employees demands for good benefits and if they no longer like the benefit offered by the company, they leave. That's why in order for a company to avoid that, they make sure to provide competitive benefits to their employees

6 0

3 years ago

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