Company XYZ is a merchandising business. The company is specialized in selling a specific brand of smartphones. The purchase cost per unit was OMR320. At the beginning of the month of May the company has inventory of 1,270 smartphones. During the month of May, the company purchased additional 1,000 smartphones. By the end of May, the company had 430 smartphones

Name: Company XYZ is a merchandising business. The company is specialized i
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Description: Company XYZ is a merchandising business. The company is specialized in selling a specific brand of smartphones. The purchase cost per unit was OMR320. At the beginning of the month of May the company has inventory of 1,270 smartphones. During the

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 6EA: Logo Gear purchased $2,250 worth of merchandise during the month, and its monthly income statement...

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Company XYZ is a merchandising business. The company is specialized in selling a specific brand of smartphones. The purchase cost per unit was COMR300. At the beginning of the month of May the company has inventory of 1,250 smartphones. During the month of May, the company purchased additional 1,000 smartphones. By the end of May, the company had 450 smartphones remaining in the store. The selling and general expenses for the company include wages and commissions, which include fixed monthly payment of OMR1,500 plus a OMR8 per unit sold; and depreciation of OMR2,000 per month. Assuming a selling price per unit of OMR600, calculate the total contribution margin. Select one: O a. OMR365,000 O b. None of the given answers O c. OMR525,600 O d. OMR540,000 O e. OMR522,100
Company XYZ is a merchandising business. The company is specialized in selling a specific brand of smartphones. The purchase cost per unit was OMR280. At the beginning of the month of May the company has inventory of 1,230 smartphones. During the month of May, the company purchased additional 1,000 smartphones. By the end of May, the company had 470 smartphones remaining in the store. The selling and general expenses for the company include wages and commissions, which include fixed monthly payment of OMR1,300 plus a CMR6 per unit sold; and depreciation of OMR2,000 per month. Assuming a selling price per unit of OMR560, calculate the total contribution margin. Select one: Oa. None of the given answers O b. OMR478,940 c OMR337.020 d. OMR482,240 e OMR492.800
Company XYZ is a merchandising business. The company is specialized in selling a specific brand of smartphones. The purchase cost per unit was OMR270. At the beginning of the month of May the company has inventory of 1,220 smartphones. During the month of May, the company purchased additional 1,000 smartphones. By the end of May, the company had 480 smartphones remaining in the store. The selling and general expenses for the company include wages and commissions, which include fixed monthly payment of OMR1,200 plus a OMR5 per unit sold; and depreciation of OMR2,000 per month. Assuming a selling price per unit of OMR540, calculate the total contribution margin. Select one: O a. None of the given answers O b. OMR323,300 OC OMR457,900 O d. OMR469,800 O e. OMR461,100
a company merchandising business. The company is specialized in selling a specific brand of smartphones. The purchase cost per unit was OMR300. At the beginning of the month of May the company has inventory of 1,250 smartphones. During the month of May, the company purchased additional 1,000 smartphones. By the end of May, the company had 450 smartphones remaining in the store. The selling and general expenses for the company include wages and commissions, which include fixed monthly payment of OMR1,500 plus a OMR8 per unit sold; and depreciation of OMR2,000 per month. Assuming a selling price per unit of OMR600, calculate the total contribution margin. Select one: a. OMR525,600 b. OMR365,000 c. None of the given answers d. OMR522,100 e. OMR540,000
Firm A is a merchandiser selling small devices. At the beginning of October, it has 400 devices in the warehouse. Each cost is 2.5 dollars. On Oct.5th, the firm purchased 300 new devices with a price of 3 dollars each. On Oct.10th, the firm sold 500 devices. On Oct.15th, the firm purchased 400 new devices with a price of 3.5 dollars each. On Oct.20th, the firm sold 200 devices. On Oct.25th, the firm sold 300 devices. On Oct.30th, the firm purchased 250 new devices with a price of 4 dollars each. Please determine the cost of merchandise sold during October and show the calculation process. Use LIFO Perpetual method.
Company XYZ is a smart phone merchant. The company purchases smart phones directly from the manufacturer and sells them to customers. During the month of April, the company purchased 45 smart phones and paid $600 for each one. The company managed to sell 40 smart phones during the same month for $900 each. The company incurred total Selling and Administrative costs of $4,000 of which 20% is fixed costs. Assume that XYZ did not have a beginning inventory during April, what was the gross margin ($) for April? O a. 8,800 O b. 8,000 O c. 5,800 O d. None of the given answers O e. 12,000
Firm A is a merchandiser selling small devices. At the beginning of October, it has 400 devices in the warehouse. Each cost is 2.5 dollars. On Oct.5th, the firm purchased 300 new devices with a price of 3 dollars each. On Oct.10th, the firm sold 500 devices. On Oct.15th, the firm purchased 400 new devices with a price of 3.5 dollars each. On Oct.20th, the firm sold 200 devices. On Oct.25th, the firm sold 300 devices. On Oct.15th, the firm purchased 250 new devices with a price of 4 dollars each. Please determine the cost of merchandise sold during October and how the calculation process.
Company XYZ is a smart phone merchant. The company purchases smart phones directly from the manufacturer and sells them to customers. During the month of April, the company purchased 45 smart phones and paid $600 for each one. The company managed to sell 40 smart phones during the same month for $900 each. The company incurred total Selling and Administrative costs of $4,000 of which 20% is fixed costs. Assume that XYZ did not have a beginning inventory during April, what was the gross margin ($) for April? O a. 12,000 O b. None of the given answers O c. 5,800 O d. 8,800 O e. 8,000 e to search W. DA dx ENG 11:36 22-05-2021 rt se 144 10 delete home end dn fid - backspace Tum lock T home 5 0 D enter 41 pause レ B M ↑ shift end alt ctri
One Stop Electrical Shop are merchandisers of household fixtures & fittings. The business began the last quarter of 2020 (October to December) with 25 Starburst Wall Clocks at a total cost of $153,000. The following transactions took place during the quarter.October 10 100 clocks were purchased on account at a cost of $6,225 each. In addition, One Stop paid $120 cash on each clock to have the inventory shipped from the vendor’s warehouse to their warehouseOctober 31 During the month 90 clocks were sold at a price of $8,300 each. (20 of these clocks sold were on account to a long-standing customer of the business)November 1 A new batch of 60 clocks was purchased at a total cost of $406,500November 10 5 of the clocks purchased on November 1 were returned to the supplier, as they were damagedNovember 30 The sales for November were 58 clocks which yielded total sales revenue of $498,800December 2 Owing to increased demand, a further 110 clocks were purchased at a cost of $7,400 each…
One Stop Electrical Shop are merchandisers of household fixtures & fittings. The business began the last quarter of 2020 (October to December) with 25 Starburst Wall Clocks at a total cost of $153,000. The following transactions took place during the quarter.October 10 100 clocks were purchased on account at a cost of $6,225 each. In addition, One Stop paid $120 cash on each clock to have the inventory shipped from the vendor’s warehouse to their warehouseOctober 31 During the month 90 clocks were sold at a price of $8,300 each. (20 of these clocks sold were on account to a long-standing customer of the business)November 1 A new batch of 60 clocks was purchased at a total cost of $406,500November 10 5 of the clocks purchased on November 1 were returned to the supplier, as they were damagedNovember 30 The sales for November were 58 clocks which yielded total sales revenue of $498,800December 2 Owing to increased demand, a further 110 clocks were purchased at a cost of $7,400 each…
One Stop Electrical Shop are merchandisers of household fixtures & fittings. The business began the last quarter of 2020 (October to December) with 25 Starburst Wall Clocks at a total cost of $153,000. The following transactions took place during the quarter.October 10 100 clocks were purchased on account at a cost of $6,225 each. In addition, One Stop paid $120 cash on each clock to have the inventory shipped from the vendor’s warehouse to their warehouseOctober 31 During the month 90 clocks were sold at a price of $8,300 each. (20 of these clocks sold were on account to a long-standing customer of the business)November 1 A new batch of 60 clocks was purchased at a total cost of $406,500November 10 5 of the clocks purchased on November 1 were returned to the supplier, as they were damagedNovember 30 The sales for November were 58 clocks which yielded total sales revenue of $498,800December 2 Owing to increased demand, a further 110 clocks were purchased at a cost of $7,400 each…
One Stop Electrical Shop are merchandisers of household fixtures & fittings. The business began the last quarter of 2020 (October to December) with 25 Starburst Wall Clocks at a total cost of $153,000. The following transactions took place during the quarter.October 10 100 clocks were purchased on account at a cost of $6,225 each. In addition, One Stop paid $120 cash on each clock to have the inventory shipped from the vendor’s warehouse to their warehouseOctober 31 During the month 90 clocks were sold at a price of $8,300 each. (20 of these clocks sold were on account to a long-standing customer of the business)November 1 A new batch of 60 clocks was purchased at a total cost of $406,500November 10 5 of the clocks purchased on November 1 were returned to the supplier, as they were damagedNovember 30 The sales for November were 58 clocks which yielded total sales revenue of $498,800December 2 Owing to increased demand, a further 110 clocks were purchased at a cost of $7,400 each…