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padilas [110]
2 years ago
6

On August 5, 2021, Wildhorse Furniture shipped 30 dining sets on consignment to Furniture Outlet, Inc. The cost of each dining s

et was $320 each. The cost of shipping the dining sets amounted to $1710 and was paid for by Wildhorse Furniture. On December 30, 2021, the consignee reported the sale of 20 dining sets at $820 each. The consignee remitted payment for the amount due after deducting a 5% commission, advertising expense of $570, and installation and setup costs of $750. The total profit on units sold for the consignor is
Business
1 answer:
elixir [45]2 years ago
8 0

Answer:

$6,150

Explanation:

Calculation to determine what The total profit on units sold for the consignor is

Total profit=[ (20)×($820 - $320 )] - (20 × $820)(.05) - $1,710 - $570 - $750

Total profit=(20*$500)-($16,400*.05)-$1,710-$570-750

Total profit=$10,000-$820-$1,710-$570-750

Total profit=$6,150

Therefore The total profit on units sold for the consignor is $6,150

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Differential Analysis for a Lease or Buy Decision
il63 [147K]

Answer:

Lease Equipment $150,000

BUY EQUIPMENT$134,700

Differential Effects-$15,300

The company should choose BUY EQUIPMENT which is Alternative 2

Explanation:

Preparation of the differential analysis dated March 15 to determine whether Laredo Corporation should lease (Alternative 1) or purchase (Alternative 2) the equipment

Differential Analysis

Lease (Alt. 1) or Buy (Alt. 2) Equipment

March 15

Lease Equipment (Alternative 1); Buy Equipment

(Alternative 2); Differential Effects (Alternative 2)

Costs:

Purchase price $0 $120,000 $120,000

Freight and installation $0 $1,500 $1,500

Repair and maintenance (6 years) $0 $13,200.$13,200

($2,200*6=$13,200)

Lease (6 years) $150,000 $0 -$150,000

($25,000*6)

Total costs $150,000 $134,700 -$15,300

Based on the above calculation the company should choose BUY EQUIPMENT which is Alternative 2

4 0
2 years ago
Jasmine started a new business in the current year. She incurred $18,000 of start-up costs. How much of the start-up costs can b
liq [111]

Answer:

$5,000

Explanation:

According to the Internal Revenue Service, the amount of deduction for startup costs would be limited to $5,000 if the startup costs are $50,000 or less

However, if the start-up costs were more than $50,000, the deduction would be decreased by the dollar amount.

Since in the given scenario, the $18,000 is the startup cost so she is eligible for the deduction of $5,000

5 0
3 years ago
Indigo insurance is about to begin using a program that will change the way its adjusters settle insurance claims. Adjusters wil
Ipatiy [6.2K]

The new system may not operate as intended, but other insurance companies have found success using this strategy despite employee doubts. The new initiative at Indigo Insurance is a cutting-edge transformation.

An opening maneuver took charge and tried to resolve the problem is called initiative. Taking up an additional duty in work, college, school, or home. Initiative means adopting a new pastime or interest. doing what you know is healthy for you, even if it means stepping outside of your comfort zone is called initiative. A way to control your risk is through insurance. When you obtain insurance, you safeguard yourself against unforeseen financial losses. If something unfavorable occurs to you, the insurance company pays you or a person of your choice. If an accident occurs and you don't have insurance, you can be liable for all expenses.

Learn more about insurance here

brainly.com/question/27822778

#SPJ4

8 0
1 year ago
The monetary unit assumption a.requires that different units be used for assets and liabilities b.requires that economic data be
Vlad1618 [11]

Answer:

b.requires that economic data be reported in yen in Japan or dollars in the United States

Explanation:

According to the monetary unit assumption, the transaction of the business are recorded in terms of monetary units

That means only that transactions are recorded which are in terms of money

. If the transactions are not in terms of money than the same is not under the monetary unit assumption

As in the given options, the japan currency is yen and the currency of the united states is dollars that reflect the monetary unit

3 0
2 years ago
KRD Supplies Corporation provided the following information for the year:Beginning Balance—Work-in-Process Inventory $24,000Endi
liberstina [14]

Answer:

The amount of the manufacturing overhead costs is $314,000

Explanation:

The computation of the manufacturing overhead cost is shown below:

= Indirect Labor  + Depreciation on Factory Plant and Equipment + Plant Utilities and Insurance

= $18,000 + $24,000 + $272,000

= $314,000

The manufacturing overhead cost includes only indirect costs other than direct costs like direct labor, direct material, etc. Because of this, we do not considered it

8 0
3 years ago
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