If the mercahdise cost $5,000, insurance in transit cost $250, tarriff cost $75, processing the pruchase order by the purchasing department cost $25, and the company receiving dock personnel cost $20, what is the total cost charged to the merchandise
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If the mercahdise cost $5,000, insurance in transit cost $250, tarriff cost $75, processing the pruchase order by the purchasing department cost $25, and the company receiving dock personnel cost $20, what is the total cost charged to the merchandise
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- Pietro expects to produce 50,000 units and sell 49,300 units. Beginning inventory of finished goods is 42,500, and ending inventory of finished goods is expected to be 34,000. Required: 1. Prepare a statement of cost of goods sold in good form. 2. What if the beginning inventory of finished goods decreased by 5,000? What would be the effect on the cost of goods sold?The home furnishings department had net sales of $420,000 and gross cost of merchandise sold of $187,500. The department's cash discounts were $3,800 and alteration costs were $2,450. Determine the maintained markup percents and the gross margin.The Hobbes Company manufactures stuffed toy animals and had the following cost information for the production run of 120,000 units: (a) rent on a billboard $1,800, (b) rent on the factory $16,000, (c) cloth and thread $34,800, (d) factory worker s compensation $38,600, (e) administrative staff compensation $18,000. If the company sold 80,000 units, what total dollar amount would it report as inventory (as needed, round your final answer to the nearest whole dollar)?
- Zonker NV purchases 500 units of an item at an invoice cost of €30,000. What is the cost per unit? If the goods are shipped f.o.b. shipping point and the freight bill was €1,500, what is the cost per unit if Zonker pays the freight charges? If these items were bought on 2/10, n/30 terms and the invoice and the freight bill were paid within the 10-day period, what would be the cost per unit?A company purchased 50 units of merchandise for $100 each. After selling 30 units for $125 each, the company had to reduce the remaining units to $90 each in order to sell them. What is the cost of goods sold?Assume the following information for a merchandising company: Number of units sold 20,000Selling price per unit $ 30Variable selling expense per unit $ 3.6Variable administrative expense per unit $ 2.6Fixed administrative expenses $ 50,000Beginning merchandise inventory $ 24,000Ending merchandise inventory $ 19,000Merchandise purchases $ 340,000 What is the contribution margin?
- RYX Manufacturing Company uses 1,000 units of Chip annually in its production. Order costs consist of P10 for placing a long-distance call to make the order and P40 for delivering the order by truck to the company warehouse. Each Chip costs P100 and the carrying costs are estimated at 15.625% of the inventory cost. What is the total order cost? _______________.A company wishes to establish an EOQ for an item for which the annual demandis $800,000, the ordering cost is $32, and the cost of carrying inventory is 20%.Calculate the following:a. The EOQ in dollars.b. Number of orders per year.c. Cost of ordering, cost of carrying inventory, and total cost.d. How do the costs of carrying inventory compare with the costs of ordering?Abey Kuruvilla, of Parkside Plumbing, uses 1,200 ofa certain spare part that costs $25 for each order, with an annualholding cost of $24.a) Calculate the total cost for order sizes of 25, 40, 50, 60, and 100. b) Identify the economic order quantity and consider the impli-cations for making an error in calculating economic order quantity.
- RYX Manufacturing Company uses 1,000 units of Chip annually in its production. Order costs consist of P10 for placing a long-distance call to make the order and P40 for delivering the order by truck to the company warehouse. Each Chip costs P100 and the carrying costs are estimated at 15.625% of the inventory cost. What is the economic order quantity for Chip? _______________.Zonker Inc. purchases 500 units of an item at an invoicecost of $30,000. What is the cost per unit? If the goods areshipped f.o.b. shipping point and the freight bill was$1,500, what is the cost per unit if Zonker Inc. pays thefreight charges? If these items were bought on 2/10, n/30terms and the invoice and the freight bill were paid withinthe 10-day period, what would be the cost per unit?Assume the following costs in each of the categories identified in question one are: Packaged (Cans & Bottles) $163,251 Kegs $76,063 Shrinkage/WIP Loss $42,000 Contract Labor $9,000 Direct Labor $240,000 Freight $18,000 Consumer Advertising $30,000 Trade Promotion $30,000 Sales Promotion $18,000 Salaries & Benefits $180,000 What is Shannon's cost of goods sold?