Answer:
account receivable debit 110,500
sales revenue credit 110,500
freight-out debit 1,900
cash credit 1,900
COGS debit 66,300
inventory credit 66,300
Explanation:
the sales will be recorded as nominal, because there is no information about the customer taking the discount or paying within this period.
Because term are FOB shipping point, the freight corespond to shore Co
The department’ contribution to overhead is $35510.
<h3>How to calculate the department contribution to overhead?</h3>
Given, sales= $119,000;
cost of goods sold= $74,870;
total direct expenses= $8,620.
Gross profit = Sales - (COGS + Direct expenses)
Gross profit = $119,000 - ($74870 + $8620)
Gross profit = $35,510.
<h3>What are direct expenses?</h3>
Direct costs, commonly referred to as costs of goods sold (COGS), are expenses that are entirely attributable to the creation of a particular commodity or service. These expenses cover the direct costs of the materials required to make the product as well as maybe any labor charges that are utilized only to make the product.
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