1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Luden [163]
3 years ago
12

On May 3, 2020, Cheyenne Company consigned 90 freezers, costing $480 each, to Remmers Company. The cost of shipping the freezers

amounted to $850 and was paid by Cheyenne Company. On December 30, 2020, a report was received from the consignee, indicating that 45 freezers had been sold for $780 each. Remittance was made by the consignee for the amount due after deducting a commission of 6%, advertising of $210, and total installation costs of $330 on the freezers sold.
(Round answers to 0 decimal places, e.g. 5,275.)
(a) Compute the inventory value of the units unsold in the hands of the consignee.
Inventory value
$enter the inventory value in dollars
(b) Compute the profit for the consignor for the units sold.
Profit on consignment sales
$enter the profit on consignment sales in dollars
(c) Compute the amount of cash that will be remitted by the consignee.
Remittance from consignee
Business
1 answer:
Viktor [21]3 years ago
5 0

Answer and Explanation:

The computation is shown below;

a.

Inventory Unsold in Hand (90-45) 45

Unit cost Unsold (45 × 480) $21,600.00

Shipping cost on Unit Unsold (850 ÷ 90 × 45) $425.00

Value of Inventory (21600 + 425) $22,025.00

b.  

Sale value (45 × 780) $35,100.00

Less: Cost  

Unit cost Sold (21600+425) -$22,025.00

Comission of Consignee (35,100 × 6%) -$2,106.00

Advertising cost -$210.00

Installation cost -$330.00

Net Profit $10,429.00

c.  

Sale value (45 × 780) $35,100.00

Less: deduction made by consignee  

Comission of Consignee (35100 × 6%) -$2,106.00

Advertising cost -$210.00

Installation cost -$330.00

Net Remittance made by consignee $32,454.00

You might be interested in
The demand for subassembly S is 100 units in week 7. Each unit of S requires 1 unit of T and 2 units of U. Each unit of T requir
Nady [450]

Answer

The answer and procedures of the exercise are attached in the following image.

Explanation  

Please consider the data provided by the exercise. If you have any question please write me back. All the exercises are solved in a single sheet with the formulas indications.  

3 0
3 years ago
The acacia ant nests and feeds in the plant’s hollow thorns. The ant helps protect the bullshorn acacia by attacking insects and
babunello [35]

Answer:

mutualism

Explanation:

because both animals in the relationship benefit

8 0
3 years ago
Read 2 more answers
What are two good interview questions?<br> PLZ help!!
Elodia [21]

Answer:

What experience do you have in this field of work?

Why do you think you're a good fit for this company/job position?

Explanation:

7 0
3 years ago
Zeitler's Department Stores sells its products online and through traditional brick-and-mortar stores. The following parallel co
irakobra [83]

Question Completion:

Choose the correct answer below

(1) in-store customers appear to be middle aged, have higher annual income and live further distance away from a store

(2) in-store customers appear to be generally younger, have lower annual income and live near a store

(3) Online customers appear to be generally younger, have higher annual income and live further distance away from a store

(4) Online customers appear to be middle aged, have lower annual income and live near a store

Answer:

Zeitler's Department Stores

Online and In-store Customers:

According to the parallel coordinates plot, online customers are differentiated from in-store customers in the following ways:

(3) Online customers appear to be generally younger, have higher annual income and live further distance away from a store

Explanation:

Younger persons tend to embrace technology more than their older counterparts.  Based on this, they also engage on online purchasing of goods and services instead of visiting the traditional brick-and-mortar stores.  With online purchase, a customer is in better control because she can search for the best deals from any location.

7 0
3 years ago
The American economy is based on both capitalism and free enterprise. What does this mean?
choli [55]
Capitalism is when a country's industry is controlled by individual owners, not by the state. Free enterprise is an economic system where businesses compete without much state control. Hope this helps!
3 0
3 years ago
Other questions:
  • The brake pedal is low and spongy ; all brake adjustments have been completed according to specifications.the cause of the probl
    6·1 answer
  • Which of the following costs is often important in decision making, but is omitted from conventional accounting records? A. Fixe
    6·1 answer
  • The Martins' home has potentially unsafe levels of radon, but they have no idea because it is odorless and they have not been fe
    5·1 answer
  • The _____ is the most ambitious global trade agreement ever negotiated; the agreement has reduced tariffs by one-third worldwide
    13·1 answer
  • Bonita and Miller Manufacturing is trying to determine the equivalent units for conversion costs with 11400 units of ending work
    12·1 answer
  • Balance sheets prepared under IFRS: Multiple Choice must list assets, but not liabilities in order of liquidity. may list assets
    14·2 answers
  • Which statement does not describe a difference between government and household budgets? In the short term, economists would exp
    14·1 answer
  • Accents Associates sells only one product, with a current selling price of $130 per unit. Variable costs are 60% of this selling
    9·1 answer
  • Calico Company has two operating departments: Department A and Department B. Department A occupies 30% of the floor space of the
    6·1 answer
  • Oberholser, Inc., has an issue of preferred stock outstanding that pays a dividend of $3.15 every year in perpetuity. If this is
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!