On September 1, Chris Eugene made the following brand equipment purchase.. 12. On September 1, Chris Eugene made the following band equipmentpurchases at Leslie's Music Store. Calculate her total bill. Complete a checkfor the correct amount. Print a copy of the check from www.cengage.com/financial_alg2e.CATALOGNUMBERDESCRIPTIONLIST PRICEQUANTITYTOTALSpeaker CabinetsSpeaker CabinetsRS101$400.00RG306$611.002HornsBG42$190.002Audio ConsoleLS101$1,079.00Power AmplifierNG107$416.00MicrophonesRKG-1972$141.928Microphone Stands1957-210$32.508.ТOTAL13% DISCOUNTSALE PRICE8% SALES TAXTOTAL COST

13% discount = Total x 13% = $6956.36 x 13% = $904.33

Answered: 12. On September 1, Chris Eugene made…

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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4
Cost of Materials Issuances Under the FIFO Method An incomplete subsidiary ledger of materials inventory for May is as follows: a. Complete the materials issuances and balances for the materials subsidiary ledger under FIFO Received Issued Materials Receiving Report Number Requisition Number 25 31 Received Quantity 210 d. Comparing 140 Received Unit Price $11 13 106 119 b. Determine the materials inventory balance at the end of May. Issued Quantity 340 200 Issued Amount 0 Balance Date May 1 May 4 May 10 May 21 May 27 Balance Quantity 300 000000-*** Balance c. Journalize the summary entry to transfer materials to work in process. If an amount box does not require an entry, leave it blank. price Balance 10000⁰0 Amount $2,700 es reported in the materials ledger with predetermined order points would enable management to order materials before (4) causes idle time
Umbria, Inc. has compiled the following data: View the data. Compute the amount of direct materials used. I = Direct Materials Used Data Purchases of Direct Materials Freight In Property Taxes Ending Direct Materials Beginning Direct Materials Print Done O $ 6,600 800 1,400 1,600 4,400 X
How would you record this transaction in a journal entry? Accepted a sales return from Eastern for an item having an original gross sales price of $6000. The original sale to eastern occurred in November with terms 2/15, n/30.
5
Please complete the Income statement Calculation of Direct Materials Used (Analyze Raw Materials Account) Beginning Raw Materials Inventory 2,373.75 Plus: Purchases of Direct Materials, Freight-in, Duties 26111.25 Materials Available for Use 28485 Less: Ending Raw Materials Inventory 18,041.32 <<<To balance sheet Direct Materials Used 10443.68 Calculation of Cost of Goods Manufactured (Analyze WIP Inventory) Beginning WIP Inventory 0 Plus Manufacturing Costs Incurred: 355,428.68 Direct Materials Used 10443.68 Direct Labor 135,000.00 Manufacturing Overhead 191,943.68 Total Manufacturing Costs to Account For 337,387.36 Less: Ending WIP Inventory 18,041.32 <<<To balance sheet Cost of Goods Manufactured 319346.04 Calculation of Cost of Goods Sold (Analyze Finished Goods Inventory)…
Company E accepts goods on consignment from Company R and also purchases goods from Company S during the current month. Company E plans to sell the merchandise to customers during the following month. In each of these independent situations, who owns the merchandise at the end of the current month and should therefore include it in their company's ending inventory? Goods ordered from Company R, delivered and displayed on Company E's showroom floor at the end of the current month. [ Select ] ["Company S", "", "Company E", "Company R"] Goods ordered from Company S, in transit, with shipping terms FOB destination. [ Select ] ["Company R", "Company E", "Company S"] Goods ordered from Company R, in transit, with no stated shipping terms. [ Select ] ["Company E", "Company S", "Company R"] Goods ordered…

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