Cost of merchandise purchased formula
[DOC File]Chapter 5
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like Wal-Mart will usually have a high proportion of variable costs such as the cost of merchandise purchased for resale. Some . ... Therefore, the cost formula for billing costs is $30,000 per quarter plus $9 per order or: Y = $30,000 + $9X, where X is the number of orders.
[DOC File]Chapter 10
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Cost per 2 kilogram container 6,000.00 Kr Less: 2% cash discount 120.00 Net cost 5,880.00 Add freight cost per 2 kilogram container (1,000 Kr ÷ 10 containers) 100.00 Total cost per 2 kilogram container (a) 5,980.00 Kr Number of grams per container (2 kilograms × 1000 grams per kilogram) (b) 2,000 Standard cost per gram purchased (a) ÷ (b) 2 ...
[DOC File]Chapter 06 Merchandising Activities
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During January of the current year, the company purchased merchandise costing $35,000, and sold merchandise which it had purchased at a total cost of $55,000. Based upon the above information, place the best answer in the space provided.
[DOC File]Chapter 7 Exercise 3 Pearson Company owns 90% of the ...
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Oct 04, 2010 · On January 1,2011, Price Company purchased new equipment for $14,500 from Smith Company. The equipment cost $9,000 and had an estimate life of five years as of January 1, 2011. During 2012, Price Company had merchandise sales to Smith Company of $100,000; the merchandise was priced at 25% above Price Company’s cost.
[DOC File]International Accounting Standard 2
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25 The cost of inventories, other than those dealt with in paragraph 23, shall be assigned by using the first in, first out (FIFO) or weighted average cost formula. An entity shall use the same cost formula for all inventories having a similar nature and use to the entity.
[DOC File]Appendix 2: Marketing Arithmatic
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Cost of goods actually sold $175,000 The difference between what Parsons paid for the merchandise ($175,000) and what he sold it for ($300,000) is called the gross margin ($125,000). In order to show the profit Parsons "cleared" at the end of the year, we must subtract from the gross margin the expenses incurred while doing business.
[DOC File]Chapter 8—The Master Budget - CPA Diary
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VI. The planned merchandise inventory on March 31 is $270,000. VII. The invoice cost for merchandise purchases represents 75% of sales price. All . purchases are paid for in cash. 75. Refer to Evita Company. The budgeted cash receipts for March are: a. $412,500 c. $585,000 b. $137,500 d. $550,000 ANS: D. Cash sales = $550,000 DIF: Easy OBJ: 8-5 ...
[DOC File]1 - CPA Diary
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b. The cost of not taking a cash discount is always higher than the cost of a bank loan. c. With trade terms of 2/15, net 60, if the discount is taken the buyer receive 45 days of credit. d. The cost of not taking the discount is higher for terms of 2/10, net 60 than for 2/10, net 30. 39.
[DOC File]Solutions for Homework ** Accounting 507 Managerial ...
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Cost of goods purchased $152,000 (2) Marvin Department Store. Schedule of Cost of Goods Sold. For the Year Ended December 31, 2008 (in thousands) Beginning merchandise inventory 1/1/2008 $ 27,000. Cost of goods purchased (above) 152,000. Cost …
[DOC File]Solutions for Homework ** Accounting 311 Cost ** Winter 2009
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Cost of goods purchased $152,000 (2) Marvin Department Store. Schedule of Cost of Goods Sold. For the Year Ended December 31, 2008 (in thousands) Beginning merchandise inventory 1/1/2008 $ 27,000. Cost of goods purchased (above) 152,000. Cost …
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