Quiz #215

Freight costs are also known as freight charges or freight rates. It is the amount paid to a carrier company for the transportation of goods from the point of origin to an agreed location. It is the most important component of a transportation company's revenue.Considering the above principle, Syarikat Pengangkutan Lori Tumpang Pantai Timur Transport Sdn. Bhd. in Tumpat, Kelantan is to deliver 30mt of goods to Syarikat Mah Sing Plastics Industries Sdn. Bhd in Port Klang, Selangor with a total distance of 491.3 km per way and toll charges RM24.70/way on a deadheading basis.The breakdown of the direct and variable costs for the calculation of freight charges for the above truck's journey are as below: Destination: Tumpat to Port Klang  Item                                                                                         Basis  Monthly maintenance                                                           Monthly  9,580Salary…

Problem 8-06 Waterway Company is a multiproduct firm. Presented below is information concerning one of its products, the Hawkeye. Date Transaction Quantity Price/Cost 1/1 Beginning inventory 2,900 $18 2/4 Purchase 3,900 26 2/20 Sale 4,400 44 4/2 Purchase 4,900 34 11/4 Sale 4,100 48 Your answer is correct. Calculate average-cost per unit. (Round answer to 4 decimal places, e.g. 2.7613.) Average-cost per unit 27.3675 SHOW SOLUTION LINK TO ΤΕXΤ

What is the correct Cost of Goods Sold under the FIFO method given the following information? Beginning Inventory: 50 units @€10, Purchase 1: 15 units @€13, Purchase 2: 15 units @€15, Ending Inventory: 12 units. Assume that the sale occurs after all inventory purchases. Answer: X

Required: For each of the following events, determine the amount of freight paid by The Box Company. Also indicate whether the freight cost would be classified as a product or period (selling and administrative) cost. a. Purchased inventory with freight costs of $700. The goods were shipped FOB shipping point. b. Sold merchandise to a customer. Freight costs were $1,000. The goods were shipped FOB shipping point. c. Purchased merchandise inventory with freight costs of $1,600. The merchandise was shipped FOB destination. d. Shipped merchandise to customers, freight terms FOB destination. The freight costs were $500. Note: Not all cells will require input.

. A retailer is considering the purchase of 100 units of a specific item from either of two suppliers. Their offers are as follows: A: $780 a unit, total of $78,000, 1/10, n/30, plus freight of $1,500. B: $800 a unit, total of $80,000, 2/10, n/30, no charge for freight. Which of the two offers, A or B, yields the lower price? Answer: ______________________________________________________________________ Explain your answer: ______________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

Select the correct choice that completes the sentence below. The cost of an item if the full amount had been paid at the time of sale is called the O A. down payment price O B. installment price O C. total price O D. cash price

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Calculate the missing information for the purchase. Item SellingPrice SalesTaxRate SalesTax(in $) ExciseTax Rate ExciseTax TotalPurchase Price(in $) Sofa $850.00 5 $  0 0 $

Calculate the gross cost of merchandise sold.  Present your answer with a dollar sign, comma separator, and rounded to the dollar (i.e. $19,642).   NOTE.  In order to get the answer on the key, you have to use the cost value of Physical Inventory NOT the cost value of Closing Book Inventory.  Physical inventory is the more correct number, so this is the appropriate approach. NOTE.  In order to get the answer on the key, you have to compute the cost percent, rounded to four decimal places (i.e. 53.1234%).  This is a short-coming of the key that came with your textbook - and the authors' computation of the answer using Excel instead of a caluclator. NOTE.  There are four questions associated with this data.  You will ultimately complete a complete RIM exercise.       Cost ($) Retail ($) Opening inventory 130,410 201,543 Gross purchases 418,390 884,916 Returns to vendors 1,726 3,514 Cash discounts 2,040   Alteration costs 1,620   Freight 1,690   Gross Sales   806,430…

6. Division R supplies Division S and is credited with £20 per item in the intercompany account. Division S, however, is only charged £10 per item in its intercompany account. What is this transfer pricing system called? (a) Two-part transfer pricing system (b) Dual transfer pricing system (c) Intercompany recharge system (d) Head office clearing system

match each item with one of the 6 classifications listed below:

Use Exhibit 18-1 to determine the sales tax (in $) and calculate the total purchase price (in $) for the item. (Round your answers to the nearest cent.) Item SellingPrice SalesTax TotalPurchase Price Hair dryer $19.22

Imagine you have taken a once-prized and valuable possession to a consignment store. You tell the clerk that you will not accept less than $200 for it. What are some steps the store might take to price the item? Create a plan for initial pricing and clearance discounting. Why is it important for the consignment shop to have a plan? List the steps the clerk might take to price the itemCreate a plan for initial pricingCreate a plan for clearance discountingExplain why this is important

Calculate the cost of goods available for sale, ending inventory, and cost of goods sold if Aircard uses (a) FIFO, (b) LIFO, or (c) weighted average cost. (Round "Cost per Unit" to 2 decimal places.)