Answer:
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<u>Solution and Explanation:</u>
<u>Cost of goods sold section :</u>
Beginning inventory, September 1, 2013 24350
Purchase 203160
Less: Purchase return and allowance -8250
Net purchase 194910
Add: Freight in 9080
Cost of goods purchased 203990
Cost of goods available for sale 228340
Less: Inventory august 31,2014 -24300
Cost of goods sold 204040
<u>Note: N</u>et purchases are calculated after deducting purchase return and allowances from the purchase. For calculating the cost of goods purchased, freight in is to be added.
Answer:
$123 Unfavorable
Explanation:
Budgeted cost = $2,420 + (33 * $9) = $2,717
Actual cost = $2,840
Variance = Budgeted cost - Actual cost = $2,717 - $2,840 = $123 Unfavorable
Therefore, the activity variance for materials and supplies in August would be closest to <u>$123 Unfavorable</u>.
Bob gets paid 8*40= $320 a week - $63.08 = $256.92 - $33.21 = $223.71 - $42.05 = $181.66. Therefore Bob's net pay on his paycheck is $181.66.