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3 years ago

Oriole Company has the following inventory data:

Business

1 answer:

Yuliya22 [10]3 years ago

7 0

Answer:

$3,942

Explanation:

Step 1 : Determine number of units sold

Units Sold = Total units available for sale - Units remaining in inventory

= (45 + 157 + 22) - 56

= 168 units

Step 2 : Determine Cost of goods sold

<em>FIFO assumes that the units to arrive first will be sold first.</em>

Cost of goods sold = (45 units x $22) + (123 units x $24)

= $3,942

The amount allocated to cost of goods sold for July is: $3,942

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Making sales to a customer on credit is an example of a ________ decision, and would be the responsibility of the __________.

PIT_PIT [208]

Correct/Complete Question:

Making sales to a customer on credit is an example of a ________ decision, and would be the responsibility of the __________.

A) Working Capital; Controller

B) Capital Structure; Controller

C) Capital Budgeting; Treasurer

D) Capital Structure; Treasurer

E) Working Capital; Treasurer

Answer:

E, Working Capital, Treasurer

Explanation:

A working capital refers to the capital required by a business to ensure its day-to-day business operations. It can also be said to be the capital available to businesses, the government,as well as other firms in need.

A treasurer in the other hand is an individual responsible for the financial management of an organization. By financial management of an organization, a treasure has the responsibility of analyzing and balancing the organization's bank statements, choosing what banks to be used by the organization, etc among other things.

Since a treasurer is responsible for managing financial service. of an organization, the treaurer reserves the power to sell to anyone on credit the treasure will know how to include that in the financial statement.

Cheers.

5 0

4 years ago

When an advertiser seeks to create demand for a product category in general, this is known as

Vinil7 [7]

Answer:

The correct answer to the following question is B) primary demand stimulation.

Explanation:

Primary demand stimulation can be defined as such advertising messages, whose main objective is to promote the benefits of a product or product category, rather than promoting a whole brand. The main purpose of making such advertisement is to influence the buying decisions of consumers by telling them about the benefits of product and also in situation when a new product has been launched or technological up gradation has been made.

8 0

3 years ago

Helen worked for ABC Motors for 25 years. The president of ABC said to her: "In consideration of your past service for 25 years,

anastassius [24]

Answer:

No, legal consideration is absent

Explanation:

According to the given situation, the President of ABC company was promised to Helen to give a new car next week as Helen worked for 25 years. But the president did not give the car as he promised to the Helen.

In this case, there was a promise which was verbal, not in the way of legal consideration, which means there is no proof so that Helen can claim from the president.

Therefore the correct answer is No, legal consideration is absent

8 0

3 years ago

Stuart Pointers Corporation expects to begin operations on January 1, year 1; it will operate as a specialty sales company that

andrey2020 [161]

Answer:

Explanation:

The preparation of sales budget for the first quarter of year

Sales budget for the first quarter

Jan Feb March

Sales $260,000 $312,000 $374,400

Working Note

For Feb Sales = $260,000 × (100 + 20%)

= $260,000 × 120%

= $312,000

For March Sales = $312,000 × 120%

= $374,400

The amount of sales revenue Stuart will report on the year 1 first quarterly pro forma income statement is shown below:-

Jan Sales = $260,000

Feb Sales = $260,000 × (100 + 20%)

= $260,000 × 120%

= $312,000

March Sales = $312,000 × 120%

= $374,400

Total Sales = $260,000 + $312,000 + $374,400

= $946,400

The preparation of cash receipts schedule for the first quarter of year is shown below:-

Jan Feb March

Jan Sales collection $182,000 $54,600 $23,400

($260,000 × 70%) ($260,000 × 21%) ($260,000 × 9%)

Feb Sales collection $218,400 $65,520

($312,000 × 70%) ($312,000 × 21%)

March Sales collection $262,080

($374,400 × 70%)

Total cash collections $182,000 $273,000 $351,000

The amount of accounts receivable is given below:-

Receivables

Out of Feb Sales $28,080

($312,000 × 9%)

Out of March Sales $112,320

($374,400 × (21% + 9%))

Total receivables $140,400

3 0

3 years ago

You spent $500 last week fixing the transmission in your car. Now, the brakes are acting up, and you are trying to decide whethe

svetoff [14.1K]

Answer: Sunk cost

Explanation:

Sunk cost also sometimes referred to as past cost is a cost that has already been spent by an individual or firm and cannot be recovered.

From the question, if $500 was spent last week in fixing the transmission in a car and the brakes are now acting up, and one has to decide qwhether to fix them or trade the car in for a newer model.

The amount spent on the brake situation in this case is a sunk cost as it has already been incurred and nothing can be done about it anymore.

8 0

3 years ago