Company XYZ is a merchandising business. The company is specialized in selling a specific brand of smartphones. The purchase cost per unit was OMR28 At the beginning of the month of May the company has inventory of 1,230 smartphones. During the mont of May, the company purchased additional 1,000 smartphones. By the end of May the company had

Q: CMR Stationery located in Marabella, Trinidad, sells a variety of school supplies including several…

A: FIFO Method - It is an inventory valuation method, under which first goods purchased are also the…

Q: Company XYZ is a smart phone merchant. The company purchases smart phones directly from the…

A: The questions are multiple choice questions Required  Chooze the Correct Option.

Q: Classique Designs sells a variety of merchandise, including school shoes for girls.  the business…

A: There are two type of way in which inventory is managed, periodic inventory system or prepectual…

Q: OUND CORE WIRELESS sells a variety of mobile telephone accessories including several brands  of…

A: Comment- Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the…

Q: Classique Designs sells a variety of merchandise, including school shoes for girls. The business…

A:

Q: Classique Designms sells a variety of merchandise, including school shoes for girls. The business…

A: FIFO method of maintaining the inventory means the Goods with are purchase first will be sold first…

Q: The Alpine House, Inc., is a large retailer of snow skis. The company assembled the information…

A:

Q: Classique Designs sells a variety of merchandise, including school shoes for girls. The business…

A: In a perpetual system, freight cost, purchase returns, discounts, and other adjustments are directly…

Q: Classique Designs sells a variety of merchandise, including school shoes for girls. The business…

A: Gross profit: Deduction of cost of goods sold from the sales value called gross profit. Sales - cost…

Q: The sales team at Joel Brown Manufacturing Company Ltd decided on the following sales forecast for…

A: Hi student Since there are multiple subparts, we will answer only first three subparts.

Q: SOUND CORE WIRELESS sells a variety of mobile telephone accessories including several brands of…

A: First-in, first-out (FIFO) cost flow assumption - Under FIFO Method, Inventory purchased first is…

Q: Company XYZ is a smart phone merchant . The company purchases smart phones directly from…

A: Gross margin means sales revenue after deducting cost of goods sold from sales revenue. Cost of…

Q: Classique Designs sells a variety of merchandise, including school shoes for girls. The business…

A: Date Purchase Sale Balance October 1 Beginning Inventory   30 Pairs * $1800 = $54000 October 3…

Q: Company XYZ is a smart phone merchant. The company purchases smart phones directly from the…

A: Gross margin of the business means sales revenue after deducting cost of goods sold from sales…

Q: Classique Designs sells a variety of merchandise, including school shoes for girls. The business…

A: Perpetual Inventory using FIFO method updates the stock record on real time basis. The ending…

Q: Classique Designs sells a variety of merchandise, including school shoes for girls. The business…

A: FIFO: FIFO stands for First in First out which means the first received inventory to be sold first.

Q: Classique Designs sells a variety of merchandise, including school shoes for girls. The business…

A: Hello. Since your question has multiple parts, we will solve the first question for you. If you want…

Q: Company XYZ is a smart phone merchant. The company purchases smart phones directly from the…

A: Gross Margin = Sales- Cost of goods sold Sales : 50*1100 =  55000 Cogs : 50*800 = 40000 Gross…

Q: Classique Designs sells a variety of merchandise, including school shoes for girls. The business…

A: Per unit of opening inventory=$54,00030=$1,800

Q: Lakeesha Barnett owns and operates a package mailing store in a college town. Her store, Send It…

A: Disclaimer: “Since you have posted a question with multiple sub-parts, we will solve the first three…

Q: Classique Designs sells a variety of merchandise, including school shoes for girls. The business…

A: In periodic inventory system, purchase costs and other direct costs are transferred to cost of goods…

Q: Classique Designs sells a variety of merchandise, including school shoes for girls. The business…

A: Inventory is a physical item of trade sold by suppliers during their accounting period. There are…

Q: Classique Designs sells a variety of merchandise, including school shoes for girls. The business…

A: There are two type of way in which inventory is managed, periodic inventory system or prepectual…

Q: Company XYZ is a merchandising business. The company is specialized in selling a specific brand of…

A: Contribution is the difference between sales price of the product and variable cost incurred while…

Q: Classique Designms sells a variety of merchandise, including school shoes for girls. The business…

A: Perpetual inventory system is the system in which the inventory is recorded at the time when the…

Q: The Salman company has provided the following information about beginning balance and purchases or…

A: Value of beginning balance=Units×Per unit=800×$20=$16,000

Q: Company XYZ is a smart phone merchant. The company purchases smart phones directly from the…

A: It is pertinent to note that gross margin is the residual income available to the entity after…

Q: Classique Designs sells a variety of merchandise, including school shoes for girls. The business…

A: Answer:- There are two types of way in which inventory is managed , periodic inventory system or…

Q: ue Designs sells a variety of merchandise, including school shoes for girls. The business beganthe…

A: PERIODIC INVENTORY METHOD: A periodic inventory method exclusively streamlines the ending inventory…

Q: Classique Designs sells a variety of merchandise, including school shoes for girls. The business…

A: Inventory Valuation Methods are methods of valuation of inventory. There are three methods of…

Q: Shadee Corp. expects to sell 630 sun visors in May and 410 in June. Each visor sells for S24.…

A: Formula: Budgeted sales value = Sales units x Sales price per unit

Q: sells T Shirts emblazoned with the school’s name and logo. The shirts cost $2,000 each and…

A: i.) At EOQ as,

Q: a company merchandising business. The company is specialized in selling a specific brand of…

A: In this numerical has covered the concept Contribution Margin.  Contribution margin is derived by…

Q: SOUND CORE WIRELESS sells a variety of mobile telephone accessories including several brands of…

A: Perpetual and Periodic Inventory system Purchase and sales records  are updated constantly in…

Q: Company XYZ is a smart phone merchant. The company purchases smart phones directly from the…

A: Solution:- Calculation of gross profit margin as follows under:-

Q: UND CORE WIRELESS sells a variety of mobile telephone accessories including several brands  of…

A: Journal entries:  When the business transactions are recorded in the primary book of account named…

Q: Classique Designs sells a variety of merchandise, including school shoes for girls. The business…

A: Ending inventory refers to that inventory or stock which is left with the business at the end of…

Q: Classique Designs sells a variety of merchandise, including school shoes for girls. The business…

A:

Q: Company XYZ is a smart phone merchant. The company purchases smart phones directly from the…

A: Gross margin is the difference of the Revenue and cost of goods sold.

Q: Company XYZ is a merchandising business. The company is specialized in selling a specific brand of…

A: Contribution Margin:   Contribution margin is Selling price per unit minus Variable cost involved in…

Q: Company XYZ is a merchandising business. The company is specialized in selling a specific brand of…

A: The correct option is as follows

Q: Company XYZ is a merchandising business. The company is specialized in selling a specific brand of…

A: SOLUTION- SALES PRICE PER UNIT 500 LESS- PURCHASE COST (250) LESS- VARIABLE WAGES AND…

Q: Classique Designs sells a variety of merchandise, including school shoes for girls. The business…

A: i) Under perpetual inventory system, merchandise inventory account and cost of goods sold account…

Q: Company XYZ is a smart phone merchant. The company purchases smart phones directly from the…

A: The answer for the multiple choice question and the calculation of gross margin for April are…

Q: lassique Designs sells a variety of merchandise, including school shoes for girls. The business…

A: 1. FIFO Method - Under FIFO Method, Inventory purchased first is sold first.   Perpetual Inventory…

Q: SOUND CORE WIRELESS sells a variety of mobile telephone accessories including several brands of…

A: Perpetual Inventory System – Under Perpetual inventory system on every sales transaction cost of…

Q: Classique Designs sells a variety of merchandise, including school shoes for girls. The business…

A: Under periodic inventory system, updates to the inventory records are made on a periodic basis.…

Q: Good morning, Can you please do this in excel? Thanks SOUND CORE WIRELESS sells a variety of…

A: Here asked for multi sub part question we will solve first three sub part question for you.  If you…

Variance Analysis

In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance. 

Standard Costing

The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.