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. Expensed as incurred Included in 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 %24

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. Expensed as incurred Included in 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 %24

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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Radakrishnan Corporation begins business in 20X5, decides to use LIFO costing, and makes the following purchases in 20X5: Purchase Date Units Purchased February 12 May 4 July 18 September 11 November 1 December 8 Total AO B 600 C 2,300 2,900 2,200 $128,423 4,800 $112,874 1,100 13,900 $122,481 Unit Cost $105,741 $32 $34 $35 $38 $40 $44 Total Cost $19,200 Radakrishnan's 20X5 year-end physical count yields 4,600 units, and its 20X6 physical count yields 3,100 units. What is Radakrishnan's 20X6 ending inventory? When calculating the cost per unit, round the calculated result to two decimal places (for example, $30.10). 78,200 101,500 83,600 192,000 48,400 $522,900
eBook Show Me How Print Item Decision on Accepting Additional Business Brightstone Tire and Rubber Company has capacity to produce 170,000 tires. Brightstone presently produces and sells 130,000 tires for the North American market at a price of $106 per tire. Brightstone is evaluating a special order from a European automobile company, Euro Motors. Euro is offering to buy 20,000 tires for $88.6 per tire. Brightstone's accounting system indicates that the total cost per tire is as follows: Direct materials $40 Direct labor 15 Factory overhead (70% variable) 24 Selling and administrative expenses (40% variable) 21 Total $100 Brightstone pays a selling commission equal to 5% of the selling price on North American orders, which is included in the variable portion of the selling and administrative expenses. However, this special order would not have a sales commission. If the order was accepted, the tires would be shipped overseas for an additional shipping cost of $6 per…
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Blossom Cars uses the specific identification formula of costing inventory. During April, Blossom purchased three used cars: a Toyota Corolla for $5700, a Buick Sedan for $6800, and a Hyundia Accent $7900, respectively. During April, two cars are sold for $8100 each. As of April 30, the Hyundia Accent is still in inventory. What is the cost of goods sold for April? O $14700 O $12500 O $16000 O $7900
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NEED ANSWER FOR ALL OR SKIP PLEASE DO NOT SAY ABOUT YOUR GUIDELINES PROVIDE COMPLETE CORRECT WELL EXPLAINED FORMULATED ANSWER FOR ALL PARTS Disk City, Inc., is a retailer for digital video disks. The projected net income for the current year is $2,370,000 based on a sales volume of 270,000 video disks. Disk City has been selling the disks for $17 each. The variable costs consist of the $4 unit purchase price of the disks and a handling cost of $2 per disk. Disk City’s annual fixed costs are $600,000.Management is planning for the coming year, when it expects that the unit purchase price of the video disks will increase 20 percent. (Ignore income taxes.)Required:1. Calculate Disk City’s break-even point for the current year in number of video disks. (Round your final answer up to nearest whole number.)2. What will be the company’s net income for the current year if there is a 15 percent increase in projected unit sales volume?3. What volume of sales (in dollars) must Disk City achieve…
Cost of good sold over this period ?
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