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3 years ago

Brahma Supply Company uses a periodic inventory system. During September, the following transactions and events occurred.

Business

1 answer:

Temka [501]3 years ago

4 0

Answer:

Date Account titles & Explanation Debit Credit

Sep 04 Purchases (70 backpacks*$50) $3,500

Accounts payable $3,500

Sep 06 Accounts payable $300

Purchase return and allowances $300

Sept 09 Accounts receivable $1,260

(15 backpacks*$84)

Sales $1,260

Sept 13 Accounts payable $3,200

(64 backpacks*$50)

Purchase discount (3,200*2%) $64

Cash (3,200*98%) $3,136

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A company's flexible budget for 24,000 units of production showed total contribution margin of $93,600 and fixed costs, $31,200.

Levart [38]

Answer:

a. $81,900.

Explanation:

The contribution margin per unit is obtained by dividing the total contribution margin by the 24,000 units produced.

$CM = \frac{\$93,600}{24,000} = \$3.9\ per\ unit$

The expected operating income is given by the contribution margin minus the fixed costs. For 29,000 units sold, the operating income is:

$I = \$3.9*29,000 - \$31,200\\I=\$81,900$

The answer is a. $81,900.

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3 years ago

For every decision you make, there is a trade-off. true or false

olga2289 [7]

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3 years ago

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Step2247 [10]

Answer: "systematic review" .
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4 years ago

Mario owns a store that sells skateboard equipment. Mario understands that people are most likely to notice his headline text in

Shalnov [3]

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3 years ago

Bold Stapler Sales Company (BSS) began 2019 with cash of $80,000, inventory of $7,200 (400 staplers that cost $18 each), $2,000

viva [34]

Answer:

Bold Stapler Sales Company (BSS)

FIFO LIFO Weighted Average

Ending inventory $4,500 $3,240 $4,122

Cost of goods sold $96,300 $97,560 $96,678

Explanation:

a) Data and Calculations:

Beginning balances in 2019:

Cash $80,000

Inventory $7,200

Common stock $2,000

Retained earnings $2,000

Description Units Unit Cost Total

Beginning inventory 400 $18 $7,200

The first purchase 1,600 $21 33,600

The second purchase 2,400 $25 60,000

Goods available 4,400 $100,800

Sales of units (4,220) $45 $189,900

Ending inventory 180

FIFO:

Ending inventory = $4,500 ($25 * 180)

Cost of goods sold = $96,300 ($100,800 - $4,500)

LIFO:

Ending inventory = $3,240 ($18 * 180)

Cost of goods sold = $97,560 ($100,800 - $3,240)

Weighted Average:

Weighted average cost per unit = $22.91 ($100,800/4,400)

Ending inventory = $4,122 (22.91 * 180)

Cost of goods sold = $96,678 ($100,800 - $4,122)

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3 years ago