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- Bell Entertainment sells souvenir T-shirts at each rock concert that it sponsors. The shirts cost $7 each. Any excess shirts can be returned to the manufacturer for a full refund of the purchase price. The sales price is $16 per shirt. Required a. What are the total cost of shirts and cost per shirt if sales amount to 2,000, 2,500, 3,000, 3,500, or 4,000? b. Is the cost of T-shirts a fixed or a variable cost? Complete this question by entering your answers in the tabs below. Required A Required B What are the total cost of shirts and cost per shirt if sales amount to 2,000, 2,500, 3,000, 3,500, or 4,000? Number of shirts sold 2,000 2,500 3,000 3,500 4,000 Total cost of shirts Cost per shirtBaird Entertainment sells souvenir T-shirts at each rock concert that it sponsors. The shirts cost $9 each. Any excess shirts can be returned to the manufacturer for a full refund of the purchase price. The sales price is $21 per shirt. Required a. What are the total cost of shirts and cost per shirt if sales amount to 3,000, 3,500, 4,000, 4,500, or 5,000? b. Is the cost of T-shirts a fixed or a variable cost? Complete this question by entering your answers in the tabs below. Required A Required B What are the total cost of shirts and cost per shirt if sales amount to 3,000, 3,500, 4,000, 4,500, or 5,000? Number of shirts sold 3,000 3,500 4,000 4,500 5,000 Total cost of shirts Cost per shirt1. The bookstore at State University purchases jackets sporting the school name and logo from a vendor. The vendor sells the jackets to the store for P1900 apiece. The cost to the bookstore for placing an order is P6000, and the carrying cost is 25% of the purchase price. The bookstore manager estimates that 1,700 jackets will be sold during the year. The vendor has offered the bookstore the following volume discount schedule: Order Size Discount % 12 to 299 300 to 499 2 500 to 799 4 800 and over The bookstore manager wants to determine the bookstore's optimal order quantity, given the foregoing quantity discount information.
- : Great Adventures Amusement Park is offering an incentive promotion for customers. The promotion is called “October Halloween” and is priced at $80. Included in the promotion is entrance to the amusement park, parking and a t-shirt. The three items (entrance to the amusement park, parking, and t-shirt) are also sold separately by Great Adventures Amusement Park. The stand-alone selling prices of entrance to the amusement park, parking, and t-shirt are $60, $30, and $10, respectively. Identify the separate performance obligations for this contract. Allocate the $80 transaction price to the performance obligations.SodaPro sells flavored water products to customers. SodaPro offers a promotion whereby current customers can receive $10 off their next purchase of a pallet of water, which retails for $ 3 0 0. This $1 0 promotion can only be redeemed once for each customer order. A convenience store places an order on 1/1/X 1 for two pallets of water and requests that the promotion be applied to its purchase. SodaPro delivers the product on 1/3/X1. Research and document the appropriate accounting by SodaPro for this transaction.Topsy Corporation started a promotional program. A towel is offered as a premium to customers who send in 10 box tops of facial soap returned and a remittance of ₱20. Distribution cost is ₱5 per towel. The entityestimated that only 60% of the box tops reaching the market will be redeemed. The entity provided the following information: 2019 2020 Facial Soap sales, P45 per unit 2,400,000 php 2,785,000 php Towel purchases, P70 per unit 320,500 php 355,000 php Number of box tops returned 20,500 php 34,850 php REQUIRED:Compute for the premiums expense for the year ended December 31, 2019 and 2020.
- Topsy Corporation started a promotional program. A towel is offered as a premium to customers who send in 10 box tops of facial soap returned and a remittance of ₱20. Distribution cost is ₱5 per towel. The entityestimated that only 60% of the box tops reaching the market will be redeemed. The entity provided the following information: 2019 2020 Facial Soap sales, P45 per unit 2,400,000 php 2,785,000 php Towel purchases, P70 per unit 320,500 php 355,000 php Number of box tops returned 20,500 php 34,850 php REQUIRED: Compute for the premium liability for the year ended December 31, 2019 and 2020.Topsy Corporation started a promotional program. A towel is offered as a premium to customers who send in 10 box tops of facial soap returned and a remittance of ₱20. Distribution cost is ₱5 per towel. The entityestimated that only 60% of the box tops reaching the market will be redeemed. The entity provided the following information: 2019 2020 Facial Soap sales, P45 per unit 2,400,000 php 2,785,000 php Towel purchases, P70 per unit 320,500 php 355,000 php Number of box tops returned 20,500 php 34,850 php REQUIRED: How much net cash did the entity receive (give) with regards to the premium transactions for the year 2019 and 2020?A local Sports Authority store, an athletic sports shop, bought and sold the following merchandise: Selling Cost Tennis rackets $2,900 Tennis balls price $ 3,999 210 70 Bowling balls Sneakers 1,050 8,105 2, 950 14, 888 a. What was the total cost of the merchandise bought by Sports Authority? Total cost of the merchandise 22.047 b. If the shop sold all its merchandise, what were the sales and the resulting gross profit? Total sales Gross profit
- JINN Corporation started a promotional program. A towel is offered as a premium to customers who send in 10 box tops of facial soap returned and remittance of ₱25. The distribution cost is ₱10 per towel. The entity estimated that only 60% of the box tops reaching the market will be redeemed. The entity provided the following information: 2020 2021 Facial soap sales, ₱50 per unit ₱ 2,500,000 ₱ 2,875,000 Towel purchases, ₱90 per unit ₱ 337,500 ₱ 360,000 Number of box tops returned 22,500 38,550 Requirements: 1. Compute for the premiums (as an asset) amount for the year ended:A. December 31, 2020B. December 31, 2021 2. Compute for the premiums expense for the year ended:A. December 31, 2020B. December 31, 2021 3. Compute for the premium liability for the year ended:A. December 31, 2020B. December 31, 2021 4. How much net cash did the entity receive (give) with regards to the premium transactions for the year given below? (if net cash…JIN Corporation started a promotional program. A towel is offered as a premium to customers who send in 10 box tops of facial soap returned and remittance of ₱25. The distribution cost is ₱10 per towel. The entity estimated that only 60% of the box tops reaching the market will be redeemed. The entity provided the following information: 2020 2021 Facial soap sales, ₱50 per unit ₱ 2,500,000 ₱ 2,875,000 Towel purchases, ₱90 per unit ₱ 337,500 ₱ 360,000 Number of box tops returned 22,500 38,550 Requirements: 1. Compute for the premiums (as an asset) amount for the year ended:A. December 31, 2020B. December 31, 2021 2. Compute for the premiums expense for the year ended:A. December 31, 2020B. December 31, 2021 3. Compute for the premium liability for the year ended:A. December 31, 2020B. December 31, 2021 4. How much net cash did the entity receive (give) with regards to the premium transactions for the year given below? (if net cash outflow,…Please show the solution in good accounting form. Thank you! Dominic Corporation started a promotional program. A towel is offered as a premium to customers who send in 10 box tops of facial soap returned and remittance of ₱25. The distribution cost is ₱10 per towel. The entity estimated that only 60% of the box tops reaching the market will be redeemed. The entity provided the following information: 2020 2021 Facial soap sales, ₱50 per unit ₱ 2,500,000 ₱ 2,875,000 Towel purchases, ₱90 per unit ₱ 337,500 ₱ 360,000 Number of box tops returned 22,500 38,550 Requirements: 1. Compute for the premiums (as an asset) amount for the year ended:A. December 31, 2020B. December 31, 2021 2. Compute for the premiums expense for the year ended:A. December 31, 2020B. December 31, 2021 3. Compute for the premium liability for the year ended:A. December 31, 2020B. December 31, 2021 4. How much net cash did the entity receive (give) with regards to the…