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Nikitich [7]
3 years ago
6

Determine the amount to be paid in full settlement of each of the following invoices, assuming that credit for returns and allow

ances was received prior to payment and that all invoices were paid within the discount period:
Merchandise Freight Paid by Seller Returns and Allowances
a. $32,000 --- FOB destination, n/30 $1,600
b. 12,800 $300 FOB shipping point, 2/10, n/30 2,500
c. 21,000 --- FOB shipping point, 1/10, n/30 4,000
d. 9,000 175 FOB shipping point, 2/10, n/30 1,000
e. 77,400 --- FOB destination, 1/10, n/30 ---
Business
1 answer:
Mice21 [21]3 years ago
4 0

Answer:

a. $30,400

b. $10,394

c. $16,830

d. $8,015

e. $76,626

Explanation:

a. Amount to be paid in full settlement = Merchandise - Returns and Allowance

= ($32,000 - $1,600)

= $30,400

b. Amount to be paid in full settlement = (Merchandise - Returns and Allowance) - (Remaining balance × 2%) + Freight Paid by Seller

= ($12,800 - $2,500) - ($10,300 × 2%) + $300

= $10,300 - $206 + $300

= $10,394

c. Amount to be paid in full settlement = (Merchandise - Returns and Allowance) - (Remaining balance × 1%)

= ($21,000 - $4,000) - (17,000 × 1%)

= $17,000 - $170

= $16,830

d. Amount to be paid in full settlement = (Merchandise - Returns and Allowance) - (Remaining balance × 2%) + Freight Paid by Seller

= ($9,000 - $1,000) - ($8,000 × 2%) + $175

= $8,000 - $160 + $175

= $8,015

e. Amount to be paid in full settlement = Merchandise - (Merchandise × 1%)

= $77,400 - ($77,400 × 1%)

= $77,400 - $774

= $76,626

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Activity-Based Costing: Selling and Administrative Expenses
lutik1710 [3]

Answer:

a) Total Sales order $60,000 and total Shipping is $28,000

b) Per unit sales order processing cost = $2.18 and shipping activity cost per walking shoe = $1.02

Explanation:

The question is divided into two parts

Part 1 ) Determine the Total Activity Cost as follows

Activity                                    Order               Rate             Total (Order x rate)

Sales Order Processing       5000 orders     $12/order        $60,000

Shipping                                1400 shipments $20/shipmt    $28,000

Total                                                                                          $88,000

Part 2)

a) Per-unit sales order processing cost

What is the sales order activity cost $60,000 and the number of walking shoes =27,500

Therefore Per unit cost = $60,000 / 27,500 = $2.18 per unit

b) Shipping activity cost per walking shoes

Shipping cost = $28,000 and the number of shoes 27,500

Per Unit Cost of shipping = $28,000/27,500 = $1.02 per unit

The total Activity cost therefore is $2.18 + $1.02 = $3.20

3 0
3 years ago
Which of the following accurately describes the requirements banks must meet under a fractional reserve banking system? A. Banks
ikadub [295]

Answer:A,B,E,F

Explanation:

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tester [92]
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Answer:

<u>Dingo should reject this project </u>

<u />

Explanation:

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14,000/200,000 = 0.07 = 7%

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3 years ago
The
zhenek [66]

Answer: operating budget

Explanation:

In the given scenario in the question, we can deduce that the management is in the process of planning the operating budget of the company.

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