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3 years ago

A Stove Can be bought on hire purchase by making a deposit of $750

Business

1 answer:

KiRa [710]3 years ago

7 0

Answer:

$3,525.00

Explanation:

The hire purchase price will be the sum of the deposit and the total monthly installments.

The deposit is $750

Monthly installments =monthly fee multiplied by 15 months

=$185 x 15

=$2,775.00

Hire purchase cost will be

=$2,775.00 +$750

=$3,525.00

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Bubba's Custom Shrimp Catering uses activity-based costing to determine the cost of its catering events. The firm has two activi

Svetach [21]

Answer:

The best option would be option d since it provides the least cost and therefor a higher possibility of being the most profitable.

a. Total cost for option a=$37,000

b. Total cost for option b=$36,250

c. Total cost for option c=$33,750

d. Total cost for option d=$30,625

Explanation:

Step 1: Determine the formula total cost

Total cost=direct costs+cooking cost+serving cost+improvement costs

Consider option a

where;

direct costs=$400×25=$10,000

cooking costs=cooking cost per catering event×number of catering events

cooking costs per year=500×25=$12,500

serving cost=serving cost per plate×number of events×number of plates per event

serving cost per plate=$12

number of events=25

number of plates per event=(80/100)×50=40

serving cost=12×25×40=$12,000

Improvement costs=$2,500

replacing;

Total cost=10,000+12,500+12,000+2,500=$37,000

Consider option b

where;

direct costs=$10,000

cooking costs=cooking cost per catering event×number of catering events

cooking costs per year=500×25=$12,500

serving cost=serving cost per plate×number of events×number of plates per event

serving cost per plate=$12×0.75=$9

number of events=25

number of plates per event=50

serving cost=9×25×50=$11,250

Improvement costs=$2,500

replacing;

Total cost=10,000+12,500+11,250+2,500=$36,250

Consider option c

where;

direct costs=$10,000×0.75=$7,500

cooking costs=cooking cost per catering event×number of catering events

cooking costs per year=500×25=$12,500

serving cost=serving cost per plate×number of events×number of plates per event

serving cost per plate=$12×0.75=$9

number of events=25

number of plates per event=50

serving cost=9×25×50=$11,250

Improvement costs=$2,500

replacing;

Total cost=7,500+12,500+11,250+2,500=$33,750

Consider option d

where;

direct costs=$10,000×0.75=$7,500

cooking costs=cooking cost per catering event×number of catering events

cooking costs per year=500×25×0.75=$9,375

serving cost=serving cost per plate×number of events×number of plates per event

serving cost per plate=$12×0.75=$9

number of events=25

number of plates per event=50

serving cost=9×25×50=$11,250

Improvement costs=$2,500

replacing;

Total cost=7,500+9,375+11,250+2,500=$30,625

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3 years ago

If you discover a near zero correlation between some firefighters' aptitude test scores and their actual performance on the job,

Ann [662]

Hmm, i'm not super sure about this one can I go and research it?

4 0

3 years ago

The CHS Company paid $48,000 cash to its landlord on November 1, 2016 for rent covering the six-month period from November 1, 20

goldfiish [28.3K]

Answer:

d. Shareholders equity increases $ 16,000

Explanation:

Two months rent needs to be adjusted. The total payment made was for $ 48,000 for a six month period. The monthly rent is $ 48,000/6 = $ 8,000

The adjustment amount is thus $ 8,000 * 2 months = $ 16,000

The adjusting entry is:

Rent expense Debit $ 16,000

Prepaid rent Credit $ 16,000

So this results in decrease in prepayment and an increase in rent expense. \Due to an increase in expenses, the net income decreases by the same amount.

The only option of increase in shareholders equity, is not valid as a reduction in net income shall result in a decrease in shareholders equity.

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3 years ago

An auditor client sells 15 to 20 units of product annually. A large portion of the annual sales occur in the last month of the f

otez555 [7]

Answer:

Explanation:

Based on the information given that a large portion of sales occur at the last month of the year, a key audit concern or risk would be the revenue or sales cutoff. This concern is on the recognition of revenue in the appropriate period as most of the sales are recorded in the last month of the year. The risk exist that such sales are recognized to meet up with the yearly sales target of the organization. The performance of analytical procedure would not be effective as the results (trend) over the past 5 years have been similar. A test of internal controls at an interim date may also not be effective as there may be multiple level connivance to ensure that sales target are met. Also, the review of period end compensation of bonuses paid may not address the identified risk as such option B which deals with revenue recognition is the most appropriate option.

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4 years ago

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8_murik_8 [283]

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3 years ago