1. The following quotation is received from a supplier in respect of Material X :Rate per kg.Lot price-1,000 kgs.5,000 kgs.10,000 kgs.5.004.504.00Trade discount 20% and cash discount 5% if payment is made within 15 days. One container isrequired for every 1,000 kgs. of the material and containers are charged at$ 90 if returned within 3 months.$ 100 each but credited$Transport charges for one orderStorage chargesCalculate the material cost for 5,000 kgs. and per kg. of the material when the purchaser decides topurchase 5,000 kgs. of the material, assuming containers are returned in due course.500150

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1. The following quotation is received from a supplier in respect of Material X : Rate per kg. Lot price-1,000 kgs. 5,000 kgs. 10,000 kgs. 5.00 4.50 4.00 Trade discount 20% and cash discount 5% if payment is made within 15 days. One container is required for every 1,000 kgs. of the material and containers are charged at $ 100 each but credited $ 90 if returned within 3 months. Transport charges for one order Storage charges Calculate the material cost for 5,000 kgs. and per kg. of the material when the purchaser decides to purchase 5,000 kgs. of the material, assuming containers are returned in due course. 500 150

1. The following quotation is received from a supplier in respect of Material X : Rate per kg. Lot price-1,000 kgs. 5,000 kgs. 10,000 kgs. 5.00 4.50 4.00 Trade discount 20% and cash discount 5% if payment is made within 15 days. One container is required for every 1,000 kgs. of the material and containers are charged at $ 100 each but credited $ 90 if returned within 3 months. Transport charges for one order Storage charges Calculate the material cost for 5,000 kgs. and per kg. of the material when the purchaser decides to purchase 5,000 kgs. of the material, assuming containers are returned in due course. 500 150

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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