Saved Living Ornaments is offering a special for wedding planners. Wedding flower orders totaling over $500 receive a 10% discount, over $750 a 15% discount, over $1,000 a 20% discount. All orders $1,500 and above receive a 25% discount. The delivery charge is $90 on weekdays and $110 on weekends. Terms are 2/10 EOM. WeddingsRUs placed an order for Thursday, June 1, delivery. The list price on the chosen flowers totals $1,623.50. (Round all intermediate calculations to two decimal places (the nearest penny) and enter your final answers rounded to two decimal places.) a. Calculate the trade discount and the net price for the flowers to be delivered. Trade discount Net price b. How much does WeddingsRUS owe if they pay the invoice on July 10? Payable amount

Saved Living Ornaments is offering a special for wedding planners. Wedding flower orders totaling over $500 receive a 10% discount, over $750 a 15% discount, over $1,000 a 20% discount. All orders $1,500 and above receive a 25% discount. The delivery charge is $90 on weekdays and $110 on weekends. Terms are 2/10 EOM. WeddingsRUs placed an order for Thursday, June 1, delivery. The list price on the chosen flowers totals $1,623.50. (Round all intermediate calculations to two decimal places (the nearest penny) and enter your final answers rounded to two decimal places.) a. Calculate the trade discount and the net price for the flowers to be delivered. Trade discount Net price b. How much does WeddingsRUS owe if they pay the invoice on July 10? Payable amount

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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Imperial Jewelers manufactures and sells a gold bracelet for $401.00. The company's accounting system says that the unit product cost for this bracelet is $252.00 as shown below: Direct materials Direct labor Manufacturing overhead Unit product cost $ 140 80 32 $ 252 The members of a wedding party have approached Imperial Jewelers about buying 14 of these gold bracelets for the discounted price of $361.00 each. The members of the wedding party would like special filigree applied to the bracelets that would increase the direct materials cost per bracelet by $7. Imperial Jewelers would also have to buy a special tool for $469 to apply the filigree to the bracelets. The special tool would have no other use once the special order is completed. To analyze this special order opportunity, Imperial Jewelers has determined that most of its manufacturing overhead is fixed and unaffected by variations in how much jewelry is produced in any given period. However, $8.00 of the overhead is variable…
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