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Eddi Din [679]
3 years ago
10

Oriole Company sells merchandise on account for $7800 to Sunland Company with credit terms of 2/13, n/30. Sunland Company return

s $1200 of merchandise that was damaged, along with a check to settle the account within the discount period. What is the amount of the check?
a. $6468
b. $7668
c. $7644
d. $6600
Business
1 answer:
Stella [2.4K]3 years ago
7 0

Answer:

a. $6468

Explanation:

Calculation for the amount of the check

Based on the information given we were told that Oriole Company sells merchandise on account for the amount of $7800 to Sunland Company with credit terms of 2/13, n/30 in which Sunland Company returns the amount of $1200 of merchandise that was damaged which means that the amount of the check will be calculated as:

Amount of the check=[($7,800 - $1,200) *(100%-2%) ]

Amount of the check=$6,600*0.98

Amount of the check=$6,468

Therefore the Amount of the check will be $6,468

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Answer:

40. Somewhere peaceful surrounded by nature

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In this economy, community members typically use simple tools to plant and harvest crops. Food supplies are supplemented by hunt
dsp73

Answer:

Traditional economy.

Explanation:

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5 0
3 years ago
Vista Company installed a standard cost system on January 1. Selected transactions for the month of January are as follows. 1. P
Vika [28.1K]

Answer and Explanation:

The Journal entry is shown below :-

1. Raw Materials Inventory Dr, $46,540

  Materials Price Variance Dr, $3,580

                    To Accounts Payable $50,120

(Being accounts payable is recorded)

Working note

Materials price variance = (Actual price - Standard Price) × Actual Quantity

= ($2.80 - $2.60) × 17,900

= $3,580 Unfavorable

Raw Material = Actual Quantity × Standard Price

= 17,900 × $2.60

= $46,540

Accounts Payable = Actual Quantity × Actual price

= 17,900 × $2.80

= $50,120

2. Work in Process Inventory Dr, $45,552

    Materials Quantity Variance Dr, $988

                  To Raw Materials Inventory $46,540

(Being raw material inventory is recorded)

Working Note

Materials quantity variance = (Actual Quantity Used- Standard Quantity) × Standard Price

= (17,900 - 17,520) × $2.60

= $988 Unfavorable

Work in Process Inventory = Standard Quantity × Standard Price

= 17,520 × $2.60

= $45,552

Raw Material = Actual Quantity × Standard Price

= 17,900 × $2.60

= $46,540

3. Factory Labor Dr, $78,000

            To Labor Price Variance $6,000

             To Factory Wages Payable $72,000

(Being factory labor is recorded)

Working Note:-

Labor price variance = (Actual Rate - Standard Rate) × Actual Hour

= ($4.80 - $5.20) × 15,000

= $6,000 Favorable

Factory labor = Standard Rate × Actual Hour

= $5.20 × 15,000

= $78,000

Factory Wages Payable = Actual Rate × Actual Hour

= $4.80 × 15,000

= $72,000

4. Work in Process Inventory Dr, $79,040

            To Labor Quantity Variance $1,040

            To Factory Labor $78,000

(Being work in progress is recorded)

Working note

Labor Quantity variance = (Actual Hour - Standard Hour) × Standard Rate

= (15,000 - 15,200) × $5.20

= $1,040

Work in Process Inventory = Standard Hour × Standard Rate

= 15,200 × $5.20

= $79,040

Factory Labor = Actual Hour × Standard Rate

= 15,000 × $5.20

= $78,000

5. Work in Process Inventory Dr, $79,040

                To Manufacturing Overhead $79,040

(Being manufacturing overhead is recorded)

7 0
3 years ago
A plumber and his assistant work together to replace the pipes in an old house. the plumber charges $35 an hour for his own labo
aleksley [76]
X= plumber's hours
y= assistant's hours
x=2y (because plumber works twice as long as assistant)

35x+20y=1800
Substitute x=2y
35(2y)+20y=1800
70y+20y=1800
90y=1800
Divide both sides by 90
y=20 assistant's hours

x= 2y
2(20)= 40 plumber's hours

Check:
35x+20y=1800
35(40)+20(20)=1800
1400+400=1800
1800=1800

Hope this helps! :)
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Answer:

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