ese he following information to answer Exercises Golf Unlimited carries an inventory of putters and other golf clubs. The sales price of each putter is $119. Company records indicate the following for a particular line of Golf Unlimited's putters: Unit Cost Item Quantity Date 24 $ 53 Nov. 1 Balance Sale 20 70

ese he following information to answer Exercises Golf Unlimited carries an inventory of putters and other golf clubs. The sales price of each putter is $119. Company records indicate the following for a particular line of Golf Unlimited's putters: Unit Cost Item Quantity Date 24 $ 53 Nov. 1 Balance Sale 20 70

Quickbooks Online Accounting

3rd Edition

ISBN:9780357391693

Author:Owen

Publisher:Owen

Chapter3: Setting Up A New Company

Section: Chapter Questions

Problem 2.3C

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Use the following information to answer Exercises E6-16 i Golf Unlimited carries an inventory of putters and other golf clubs. The sales price of each putter is $119. Company records indicate the following for a particular line of Golf Unlimited's putters: Unit Cost Item Quantity Date $ 53 24 Nov. 1 Balance 6. Sale 20 30 70 8 Purchase 17 Sale 30 30 Sale
e| MyUSF A My Home CengageNOWv2|Online teachir x engagenow.com/ilm/takeAssignment/takeAssignmentMain.do?invoker-&takeAssignmentSessionLocator=&inpro. to Product J is one of the many products manufactured and sold by Oceanside Company. An income statement by product line for the past year indicated a net profit for Product J of $2,750. This net profit resulted from sales of $275,000, cost of goods sold of $186,500, and operating expenses of $85,750. It is estimated that 30% of the cost of goods sold represents fixed factory overhead costs and that 40% of the operating expense is fixed. If Product J is retained, the revenue, costs, and expenses are not expected to change significantly from those of the current year. Because of the large number of products manufactured, the total fixed costs and expenses are not expected to decline significantly if Product J is discontinued. Prepare a differential analysis report dated February 8 of the current year. If an amount is zero, enter "0". If…
Richardson Ski Racing (RSR) sells equipment needed for downhill ski racing. One of RSR's products is fencing used on downhill courses. The fence product comes in 150-foot rolls and sells for $215 per roll. However, RSR offers quantity discounts. The following Activity Frame e per roll depending on order size: Quantity Ordered Το From Price per Roll 1 30 $215 31 60 $195 61 120 $175 121 and up $155 Click on the datafile logo to reference the data. DATA fil (a) Use the XLOOKUP function with the preceding pricing table to determine the total revenue from these orders. (b) Use the COUNTIF function to determine the number of orders in each price bin. From To Price per Number of Roll Orders 1 30 $215 31 60 $195 61 120 $175 121 and up $155 172
The Kennedy Company uses throttles in its assembly of lawn mowers. Information as to balances on hand, purchases, and requisitions of throttles is given in the following table. Number of Units Unit Price Balance of Units Transaction Date Jan. 1 Beginning balance 50 $2.50 50 Purchased 150 $3.00 200 Jan. 20 Feb. 3 Issued 40 160 Mar. 25 Issued 70 90 Jun. 14 Purchased 75 $4.00 165 Aug. 27 Sep. 16 Oct. 7 Dec. 13 Issued 65 100 Issued 55 45 Purchased 75 $4.50 120 Issued 70 50 If a perpetual inventory record of throttles is maintained on a moving average basis, the 165 items in inventory on June 14 will have a unit cost of (rounded to three decimal places):
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Xpert Snowboards sells an ultra-lightweight snowboard that is considered to be one of the best on the market. Information follows for Xpert's purchases and sales of the ultra-lightweight snowboard in October: Transaction Date Oct. 1 Beginning inventory 10 Purchase 12 Sale 13 Purchase 25 Sale 27 Purchase Units 25 30 (42) 35 (45) 20 Unit Purchase Price $295 300 305 310 Unit Sales Price $450 460 Instructions a. Calculate the cost of goods sold and the ending inventory using FIFO and weighted average, assuming Xpert uses a perpetual inventory system. Round the weighted average cost per unit to two decimal places. b. What would be the ending inventory and cost of goods sold if Xpert used FIFO and weighted average in a periodic inventory system? Round the weighted average cost per unit to two decimal places. Record transactions in perpetual and periodic inventory systems.
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Q1. Murray furniture store sells couches as a retailer. The wholesale cost to them of their most popular model of couch varies depending on how many they purchase for sale. For the first 200 couches the cost is $299 each; for the next 200 couches it drops to $250 each; and for every couch after that it costs $225. Create an excel function using the IF function to show the gross profit under the following scenarios: a. b. It sells at a price of $650 and 350 units are purchased for sale and sold It sells at a price of $625 and 300 units are purchased for sale and sold It sells at a price are $700 and 1,000 units are purchased for sale and sold C.
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Information for number 6 and 7 An offer from the supplier to pay the materials ahead of time is Terms= 3/15, net 30. The materials cost to be purchased amounts $ 50,000. 6. Compute for the cost of the discount 7. If you are the business owner, will you take the discount or pay after the discount?