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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E-LIBRARY ZAIN HANDBOOKS Steven places an order to Peter or the supply of a certain product that was not yet manufactured. On receipt of the order, Peter goes to the market and purchase all the raw material required, hired some employees to get the things done, and successfully completed the order and delivered the goods to Steven. Now here the question arises that the sale is presumed to be recorded at the time of which event? O a. Purchase of raw material O b. Delivery of good O C. Receipt of good O d. Production of goods Finish POCOPHONE 10:4 SHOT ON POCOPHONE F1 11/
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
The JKL INC. produced 100,000 units of Product X during the month of September: Costs incurred during September were as follows: Direct materials used ₱100,000 Fixed manufacturing overhead ₱50,000 Direct labor employed 80,000 Variable selling and general expense 12,000 Variable manufacturing overhead 40,000 Fixed selling and general expense 45,000 Question: 1. What was Product X’s unit cost under absorption costing? 2. What was Product X’s unit cost under variable costing?
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.
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12. Which of the following entry rightly record for transferring goods from WIP to finished stock? a. A. Dr. Work in Process Inventory A/c Cr. Costing Profit and Loss A/c b. A. Dr. Work in Process Inventory A/c Cr. Finished Goods Inventory A/c c. A. Dr. Costing Profit and Loss A/c Cr. Work in Process Inventory A/c d. A. Dr. Finished Goods Inventory A/c Cr. Work in Process Inventory A/c
please give me an answer to these few short questions asap the questions are attached below as an image
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)…
Ex) The following data were taken from the records of Santana company for the operating year ended in 31/12/2006 -Beginning raw materials inventory 7000 -Beginning work in process inventory 12000 -Purchases of raw materials 75000 -Purchases returns 1100 -Purchases allowance 900 -Purchases discounts 500 -Purchases expenses 2000 -Direct labor 66000 -Indirect materials 5500 -Indirect labor 8000 -Depreciation-Machinery 9000 -Maintenance-Machinery 11000 -Electricity 6500 -Heating and lighting 4000 -Ending raw materials inventory 14000 -Ended work in process inventory 9000 Ins:- 1-Prepare manufacturing account for the year ending in 31/12/2006. 2-Prepare manufacturing statement for the year ending in 31/12/2006. 37
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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