Stainless Works Mfg. Co. consigned 5 dozens of stainless chairs to Urban Furniture Co. on April 1, 20x1. Each chair cost P120 and the consignor paid P600 for the shipment to the consignee. On August 15, 20x1, 36 were already sold and the consignee rendered an account sales, and remitted the balance due the consignor in the amount of P5,580 after deducting the following: Commission at 15% of the selling price Selling expenses P360 Delivery and installation 180 How much is Stainless Works Mfg. Co.'s profit on the consignment? 660 900 1,000 1,260

Stainless Works Mfg. Co. consigned 5 dozens of stainless chairs to Urban Furniture Co. on April 1, 20x1. Each chair cost P120 and the consignor paid P600 for the shipment to the consignee. On August 15, 20x1, 36 were already sold and the consignee rendered an account sales, and remitted the balance due the consignor in the amount of P5,580 after deducting the following: Commission at 15% of the selling price Selling expenses P360 Delivery and installation 180 How much is Stainless Works Mfg. Co.'s profit on the consignment? 660 900 1,000 1,260

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

A firm needs 150 units of a component, and it uses lot-for-lot ordering to order the component. How many units will the firm order? 150 300 200 450
please solve this practice problem using the images below
Ef 61.
The average deferral limit for Jackson St.'s NHCE group is 2.87%. What is the maximum that their HCEs can contribute to the plan? Select one: 4.87% 5.74% 3.59% 4.12%
Please complete this practice problem by using the 2 images below. Please write cleary and everything in order. Thank you
Hw.54.
D3)
Can you also do three-eight??
Here are the four answer options provided for this question: (a) The project's PI is 21.48 percent and the project should be accepted. (b) The project's PI is 16.48 percent and the project should be accepted. (c) The project's PI is 8.48 percent and the project should be accepted. (d) The project's PI is 8.48 percent and the project should be rejected.
How did you get the 1000 and 1300?Can you please explain on how did you calculate the 22 and 20.38?
Where does the $23,000 for the started and completed units come from, where does the 5,000 from BWIP come from, and where does the units in EWIP come from?
Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.