Answer:
For X-Men, the Sales Discount should be recorded at the estimated discount amount that will be taken by the X-Men's customers, which is calculated as: $1,000 * 2% = $20.
The adjusting for sales discount X-Men should be recorded as followed:
Dr Sales Discount 20
Cr Allowance for Sales Discount 20
( to record the estimated sales discount taken)
in which, Sales Discount is a contra-revenue account which helps to record the Net Sales amount from the Gross Sales amount.
Explanation:
Answer:
See below
Explanation:
The computation of ending inventory is shown below;
But first we need to determine the average cost per unit.
Average cost per unit
= (476 units × $63 + 718 units × $66 + 365 units × $68) ÷ (476 units + 718 units + 365 units)
= ($29,988 + $47,388 + $24,820) ÷ (1,559 units)
= $102,196 ÷ 1,559
= $65.55
Now, the ending inventory unit
= 1,559 units - 1,195 units
= 364 units
Finally , the ending inventory
= $65.55 × 364 units
= $23,860
Answer:
June 1
DR Cash <u>$16,200</u>
CR Common Stock <u>$16,200</u>
<em>(To record issuance of Common Stock)</em>
<u>Workings</u>
Cash
= 2,700 shares * $6 price
= $16,200
Answer:
TC = $1,700 + $20x
P = $20x - $1,700
x = 85
Explanation:
Develop a mathematical model for the total cost of producing x pairs of shoes.
The total cost of producing x pairs is given by the fixed cost of $1700 added to a variable cost of $20 per pair. For x pairs:
Let P indicate the total profit. Develop a mathematical model for the total profit realized from an order for x pairs of shoes.
Total profit is given by Revenue from sales minus total costs (found on the previous item). Revenue is $40 per pair. The profit function is:
How large must the shoe order be before O'Neill will break even?
The break-even point occurs when profit is zero:
The shoe order must be at least 85 pairs.
Answer:
IN MARKETING WE EARN MONEY FOR OUR NEEDS
