A car dealer acquires a used car for $20,000, with terms FOB shipping point. Compute total inventory costs assigned to the used car ifadditional costs include$300 for transportation-in.• $140 for shipping insurance.• $880 for car import duties.• $130 for advertising.• $1,000 for sales staff salaries.• $170 for trimming shrubs.Included inExpensedCostInventory Cost as incurredCost20,000Transportation-inImport dutiesInsurance during shipment300880140Advertising130Sales staff salaries1,000Trimming shrubs170Total22,620%24

In the given situation, all costs except advertising, sales staff salaries and trimming shrubs…

Answered: A car dealer acquires a used car for…

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter9: Sales And Purchases

Section: Chapter Questions

Problem 9E: Williams Corporation had the following purchases for May: May 3Bought ten lawn rakes from Owens...

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A car dealer acquires a used car for $16,000, with terms FOB shipping point. Compute total inventory costs assigned to the used car if additional costs include • $130 for transportation-in. • $150 for shipping insurance. • $920 for car import duties. • $200 for advertising. • $2,000 for sales staff salaries. • $110 for trimming shrubs. Included in Expensed as Cost Inventory Cost incurred Cost $ 16,000 Transportation-in 130 Import duties 920 Insurance during shipment 150 Advertising 200 Sales staff salaries 2,000 Trimming shrubs 110 Total $ 19,510
A car dealer acquires a used car for $20,000, with terms FOB shipping point. Compute total inventory costs assigned to the used car if additional costs include $300 for transportation-in. $140 for shipping insurance. $880 for car import duties. $130 for advertising. $1,000 for sales staff salaries. $170 for trimming shrubs.
A car dealer acquires a used car for $17,000, with terms FOB shipping point. Compute total inventory costs assigned to the used car if additional costs include . $200 for transportation-in. $180 for shipping insurance. • $750 for car import duties. . $170 for advertising. $2,000 for sales staff salaries. $100 for trimming shrubs. Cost Transportation-in Import duties Insurance during shipment Advertising Sales staff salaries Trimming shrubs Total Cost Included in Inventory Cost $ 17,000 200 750 180 170 2,000 100 $ 20,400 Expensed as Incurred
A car dealer acquires a used car for $20,000, with terms FOB shipping point. Compute total inventory costs assigned to the used car if additional costs include ● • $300 for transportation-in. $140 for shipping insurance. • $880 for car import duties. $130 for advertising. ● ● $1,000 for sales staff salaries. • $170 for trimming shrubs. Cost Expensed as incurred Cost Transportation-in Import duties Insurance during shipment Advertising Sales staff salaries Trimming shrubs Total $ $ $ Included in Inventory Cost 0 20,000 300 880 140 130 1,000 170 22,620 $ 0
A car dealer acquires a used car for $7,000, with terms FOB shipping point. Compute total inventory costs assigned to the used car if additional costs include • $290 for transportation-in. $190 for shipping insurance. $1,000 for car import duties. $200 for advertising. $1,400 for sales staff salaries. $190 for trimming shrubs. Cost Transportation-in Import duties Insurance during shipment Advertising Sales staff salaries Trimming shrubs Total $ $ Cost 7,000 290 1,000 190 200 1,400 190 10,270 Included in Inventory Cost Expensed as incurred
A car dealer acquires a used car for $14,000, with terms FOB shipping point. Compute total inventory costs assigned to the used car if additional costs include ∙ $250 for transportation-in. ∙ $150 for advertising. ∙ $300 for shipping insurance. ∙ $1,250 for sales staff salaries. ∙ $900 for car import duties. ∙ $180 for trimming shrubs.
A car dealer acquires a used car for $17,000, with terms FOB shipping point. Compute total inventory costs assigned to the used car if additional costs include $200 for transportation-in. $180 for shipping insurance. $750 for car import duties. . $170 for advertising. $2,000 for sales staff salaries. $100 for trimming shrubs. Cost Included in Inventory Cost Expensed as incurred Cost Transportation-in $ 17,000 200 Import duties 750 Insurance during shipment 180 Advertising 170 Sales staff salaries Trimming shrubs 2.000 100 Total $ 20,400
A car dealer acquires a used car for $11,000, with terms FOB shipping point. Compute total inventory costs assigned to the used car if additional costs include $190 for transportation-in. $150 for shipping insurance. $850 for car import duties. $110 for advertising. $2,000 for sales staff salaries. $140 for trimming shrubs. Included in Expensed Cost Inventory Cost as incurred Cost $11,000 Transportation-in 190 Import duties 850 Insurance during shipment 150 Advertising 110 Sales staff salaries 2,000 Trimming shrubs 140 Total $14,440
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A solar panel dealer acquires a used panel for $12,400, with terms FOB shipping point. Compute total inventory costs assigned to the used panel if additional costs include $4,900 for sales staff salaries. • $620 for transportation-in by train. $280 for online advertising. $390 for shipping insurance. $1,400 for used panel restoration. $1,150 for lawn care. Included in Expensed as incurred Cost |Inventory Cost Cost $ 12,400 Transportation-in by train 620 Shipping insurance 390 Used panel restoration 1,400 Online advertising 280 Sales staff salaries 4,900 Lawn care 1,150 Total $ 21,140 %24
A distributor of artistic iron-based fixtures acquires a piece for $1,000, terms FOB shipping point. Additional costs in obtaining it and offering it for sale include $150 for transportation-in, $300 for import duties, $100 for insurance during shipment, $200 for advertising, a $50 voluntary gratuity to the delivery person, $75 for enhanced store lighting, and $250 for sales staff salaries. For computing inventory, what cost is assigned to this artistic piece?
A car dealer acquires a used car for $ 14,000, with term FOB shipping point. Compute total inventory costs assigned to the used car if costs include $ 250 for transportion-in $ 300 for shipping insurance $ 900 for care import duties $ 150 for advertising $ 1,250 for sales staff salaries $ 180 for trimming shrubs Select one: O a. $ 15,450 O b. $ 14,000 O . $14,900 O d. $ 17030

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