Cafe X bought 20,000 cups for $1,400 when they opened for business last month. At the end of the month they had 7,000 cups left. How much did the cups add to cost of goods sold (COGS) for the month? Answer 2$

Cafe X bought 20,000 cups for $1,400 when they opened for business last month. At the end of the month they had 7,000 cups left. How much did the cups add to cost of goods sold (COGS) for the month? Answer 2$

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Q: Company XYZ is a smart phone merchant. The company purchases smart phones directly from the…

A: The questions are multiple choice questions Required Chooze the Correct Option.

Q: Mr. Smith was selling T-shirts at $10 each with sales of $5,000. He decided to bring down the…

A: The revenue is the amount that is received by selling a product or service. For example, if an…

Q: Forecast the food sales for the current (30-day) month. The restaurant serves lunch and dinner each…

A: Financial accounting are employed by nonprofit organizations, corporations, and small businesses to…

Q: P5.40/order Ave. lead time on pur Maximum lead time oint for Triplo TInc

A: 8 No. of units sold per year = 100000 No. of days operate per year = 250 Maximum bag required/…

Q: If a store uses a 35-hour workweek, determine the sales per fulltime employee equivalent based on…

A: Here in this question, we are required to calculate the sales per full time employee equivalent. We…

Q: What is Jesse's break-even point in units? List the amounts you entered into your formula for each…

A: Break even analysis derives the sales required to balance the fixed cost and variable cost…

Q: annon's brewery currently boasts a customer base of 1,750 customers on 's current variable cost of…

A: Given: The Shannon's is customer 1.750 brewhouse twice per month The 50% sales buy the house The…

Q: A Club has food sales of $4,000,000 and a food cost of 40%. The club's current ratio is 2, its food…

A: Given the following information: A Club has food sales of $4,000,000 and a food cost of 40% Current…

Q: CLV3: A new streaming platform, MV expects to make a margin of $10 every month from each of its…

A: It is a measure to determine the margin or profit that can be generated from a customer throughout…

Q: A Club has food sales of $4,000,000 and a food cost of 40%. The club's current ratio is 2, its food…

A: Ratio analysis means where different ratio of various years of years companies has been compared and…

Q: A hotel pays the phone company $300 per month plus $0.35 for each call made. During January 7,000…

A: Cost per unit means the per unit amount incurred on each unit of product. It includes both the fixed…

Q: 2. [EXCEL] Operating cycle: Lilly’s Bakery distributes its products to more than 75 restaurants and…

Q: erates a number of coffee stands in busy suburban malls. The fixed weekly expense of a coffee stand…

Q: [Printer] Assume a large printer manufacturer has 17,000 customers. The company wants t each of…

A: Calculation of Number of Sales persons needed. Step 1 : Total number of minutes required to visit…

Q: A local Ace Hardware sells batteries ($3) and small boxes of pens ($5). In August, total sales were…

A: Values are given in the question: The selling price of batteries = $3 The selling price of a small…

Q: 3. Determine the semi-monthly pay for someone with an annual salary of $48 000.

A: Salary means the amount paid to worker or employee for the service rendered by that person. Annual…

Q: macy has pre week, utilities of $1,025.25 per aries of $4,500 a week for the p y technicians. The…

A: In this question, we will calculate the overhead expenses for the month, the net profit for the…

Q: If Nancy can increase sales by 10%, by what dollar amount will her operating income increase?

A: Working: Total Variable Portion Fixed Portion Cost of Goods Sold $24,500 $24,500…

Q: 2. Applehead Technology is a company that purchases a device called the EyePod from a supplier and…

A: Introduction:- A profit and loss statement (P&L), also known as a revenue statement, a…

Q: The New York Times sells a weekly magazine which advertises local second-hand goods. The owner can…

A: Economic value is the measurement of the benefit derived from a good or service to an individual or…

Q: Majozi Traders is a business that designs and makes cane chairs. Majozi Traders employs one worker…

A: Small traders, run their business with limited resources. Hence, efficient management of resources…

Q: Give me answer

A: Step 1: Introduction to the Seat TurnoverIn service sector, units used for revenue and cost differ…

Q: tax. Calculate the total cost to rent the equipment shown in the table for 3 months.

A: Rent: An amount that pays in exchange for the right to use someone else's asset, particularly an…

Q: the cost of food sold for this month i

A: The cost of goods sold measures all the direct costs incurred in the production of any goods or…

Q: HC1Q2. The ratio of sales of Pineapples to that of Watermelons in the grocery shop was 2:8 If the…

A: A ratio says how much of one thing there is compared to another thing.

Q: c. Suggest 3 qualitative, i.e. non-financial, issues the company should consider when deciding on…

A: Relevant cost is the concept used in managerial accounting to reflect the avoidable, differential or…

Q: Help with question solution

A: Step 1: Step 2: Step 3: Step 4:

Q: please show all work and preferably on paper Question 2. The marketing manager for Tim Hortons is…

A: The selling price is a combination of cost and markup value. So we can calculate the selling price…

Q: La Reina de Oriente, S.A., a company that sells sausages, knows that it pays its suppliers 10 times…

A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

Q: Each day a small business owner sells 200 pizza slices at $1.50 per slice and 85 sandwiches at $3.50…

A: Solution:- Profit means the excess amount of money available from sale proceeds after meeting all…

Q: $1,500 and the variable cost per cup of coffee served is $0.33. Required: 1. Fill in the following…

A: The cost is divided into two - fixed cost and variable cost.. Variable cost is the one that changes…

Q: Required:Fill in the missing amounts, labeled (a) through (o), in the table.A hotel pays the phone…

A: The fashion of costing is employed by companies to calculate and assess the costs associated with…

Q: I want correct answer

Q: The shops sell 13 racing bikes per week at a retail price of $657.53. Recently, you put the bikes on…

A: Markdown = Original selling price - Sale price

Q: An online business pays a web-hosting company a monthly fixed fee of £141 and a fee of £0.51 per…

A: Variable cost :— It is the cost that changes with change in activity of cost driver used. Variable…

Q: QUESTION 1 *COGS $390,000 •GM 60% %3D •Store size: 20 ft x 25 ft. •2,500 transactions •5,000 units…

A: The question is related to Marginal Costing and Cost Volume Profit Analysis.

Q: Shannon’s brewery currently boasts a customer base of 1,750 customers that frequent the brewhouse on…

A: The question gives the following information:

Q: 20. Refer to Figure 1. If Brown's lead time is four working days, the average rate of usage is 40…

A: Reorder Point = Lead Time Demand x Safety stock Lead time demand = Average daily uses x Lead…

Q: solve this one please

A: If you have any problem let me know in comment box thankyou.

Q: nkt.3

A: The objective of the question is to calculate the total sales of the company.

Q: Q.2) Tiger Traders is in business of selling breads. Selling Price of bread is Rs 30-per packet…

A: BREAKEVEN POINTBreak Even means the volume of production or sales where there is no profit or…

Q: Please show me the step by step and the formula Question 1: Keri Weinberg earns both $10/hour, $10…

A: Lets understand the basics. Employee gets paid for the work done in the entity. Payment can be in…

Q: Oliver Co. sells themed beauty product gift boxes for $30 per box. The box and items in it cost…

A: Margin of safety is the revenue earned by a company by paying it's all fixed expenses and variable…

Question

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

am. 123.
a company makes toys. In the month of July, they make 220 toys, earning a sales revenue of £14,300. The variable production costs were £30 per dress and the fixed costs for the period were £1,100. What was the contribution earned for one toy? a. £30 b. £35 c. £60 d. £65
Need answer do not use ai
Q1: Shannon's brewery currently boasts a customer base of 1,750 customers that frequent the brewhouse on average twice per month and spend $26 per visit. Shannon 's current variable cost of goods sold is 50% of sales. The customer retention rate per month is 0.78, based on data collected from its website and an analysis of credit card receipts. Its current cost of capital for borrowing and investing is about 12% per year, or 1% per month. What is Shannon's approximate CLV for its average customer? Compute your answer to the nearest penny.
True calculation
Question 2 Joan Zorba orders calculators for her office supply stores. Each calculator cost $35, currently she is ordering 230. Daily demand for these calculators is 5. The cost to re-order this item is estimated at $44, while the annual inventory holding cost is 22%. Orders are received two working days after an order is placed. The office operates 52 weeks per year, 5 days per week Determine the reorder point using EOQ. Greater than or equal to 43 and less than or equal to 49 Greater than or equal to 431 and less than or equal to 443 Greater than or equal to 2053 and less than or equal to 2064 Greater than or equal to 6 and less than or equal to 25 4 pts < Previous Next VIV
finance Momo's Muffins sold $30,000,000 of product in a year that had a cost of goods sold of $10,000,000. The average inventory carried by Momo's was $500,000. On average, it takes 35 days for Momo's customers, such as grocery stores and restaurants, to pay on their accounts. Momo's buys ingredients, including flour, spices, and eggs, from its vendors on credit, and Momo's takes about 40 days to pay its suppliers. What is Momo's: Inventory Turnover? Inventory Conversion Period? Cash conversion cycle?
Please help me with this accounting homework question, I am having so much trouble.
Last month Annie's Homemade sold 5,000 servings of ice cream for $5.00 each. Its variable cost is $1.25 per serving and its total fixed costs were $11,000. Required: 1. What was last month's margin of safety? 2. What was last month's margin of safety percentage? Complete this question by entering your answers in the tabs below. Required 1 Required 2 What was last month's margin of safety? Margin of safety
a-2