Goods costing rs 10000 was sold at loss rs 2000<br> make journal entry

Pizza Vesuvio makes specialty pizzas. Data for the past 8 months were collected: Month Labor Cost($) Employee Hours January 9,29

Ierofanga [76]

Answer:

1. $2,296

2. $19.58

3. Total labor cost = Fixed cost + (variable cost × employee hour)

Explanation:

The computations are shown below:

1. The fixed cost would be

= High labor cost - (High employee hours × Variable rate per hour)

= $10,324 - (410 hours × $19.58)

= $10,324 - $8,028

= $2,296

2. Variable rate per hour = (High labor cost - low labor cost) ÷ (High employee hours - low employee hours)

= ($10,324 - $6,800) ÷ (410 hours - 230 hours)

= $3,524 ÷ 180 hours

= $19.58

3. The cost formula would be

Total labor cost = Fixed cost + (variable cost × employee hour)

= $2,296 + ($19.58 × employee hour)

5 0

3 years ago

Which of the following is a product-based business?

Sav [38]

Clothing is the answer

8 0

3 years ago

On May 1, 2021, Meta Computer, Inc., enters into a contract to sell 4,100 units of Comfort Office Keyboard to one of its clients

Harrizon [31]

Answer:

Journal Entry

Explanation:

1. There are two obligations in this contract

a. keyboard

b. Customer option for future discount

2. Cash Dr, $69,700

To Deferred revenue - keyboard $66,215

To Deferred revenue - discount coupon $3,485

(Being cash is recorded)

Working note:-

Keyboards = 4,100 × $19

= $77,900

Option = $41,000 × (0.25 - 0.05) × 0.50

= $4,100

Allocation

For keyboard

= $77,900 ÷ ($77,900 + 4,100)

= 0.95

Deferred revenue Keyboard = $69,700 × 0.95

= $66,215

Option = 4,100 ÷ ($77,900 + 4,100)

= 0.05

Deferred revenue - discount coupon = $69,700 × 0.05

= $3,485

3. Cash Dr, $69,700

To Deferred revenue Keyboard $69,700

(Being cash is recorded)

4 0

3 years ago

Which of the following best describes a cartel? A.when businesses agree to limit supplies of a product C.complete control of a p

sukhopar [10]

C. Complete control of a product or service

5 0

4 years ago

Read 2 more answers

When __________ funds are set aside (idling the excess) and government does not spend the money nor apply it to past debt, this

finlep [7]

When surplus <span>funds are set aside (idling the excess) and the government does not spend the money nor apply it to past debt, this action does not cause expansion or contraction.
That statement is true. Expansion or contraction happens when the amount of Government budget is accumulated or decreased as the result of last year's operations</span>

7 0

3 years ago

Goods costing rs 10000 was sold at loss rs 2000 make journal entry​

Goods costing rs 10000 was sold at loss rs 2000 make journal entry