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nika2105 [10]
2 years ago
9

Henderson Company uses the gross profit method to estimate ending inventory and cost of goods sold when preparing monthly financ

ial statements required by its bank. Inventory on hand at the end of July was $122,500. The following information for the month of August was available from company records:Purchases $219,000Freight-in 5,200Sales 350,000Sales returns 9,000Purchases returns 4,300In addition, the controller is aware of $10,000 of inventory that was stolen during August from one of the company's warehouses.Required:1. Calculate the estimated inventory at the end of August, assuming a gross profit ratio of 30%.2. Calculate the estimated inventory at the end of August, assuming a markup on cost of 25%.
Business
1 answer:
ch4aika [34]2 years ago
7 0

Answer:

<u>Task 1:</u>

<u>Calculate the estimated inventory at the end of August, assuming a gross profit ratio of 30%:</u>

The answer is: $93,700

<u>Task 2:</u>

<u>Calculate the estimated inventory at the end of August, assuming a markup on cost of 25%.</u>

The answer is $69,600

Explanation:

The workings are attached in the tabular form.

Download docx
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Ramapo Company produces two products, Blinks and Dinks. They are manufactured in two departments, Fabrication and Assembly. Data
almond37 [142]

Answer:

The factory overhead allocated per unit of Blinks is b.$19.50

Explanation:

It is Important to note that  Ramapo Company uses a single plantwide overhead rate to apply all factory overhead costs based on direct labor hours.

A plant Wide Overhead rate is a function of the Total Overheads of a Company divided by the Total Labor Hours in the Company

<u>Total Overheads:</u>

Fabrication Department  $84,000

Assembly Department     $72,000

Total                                 $156,000

<u>Total Labor Hours :</u>

Fabrication Department                                             0

Assembly Department ( 1,000 × 4) + (2,000×2)     8,000

Total                                                                          8,000

Note :  <em>labor hours take place only in the Assembly Department</em>

<u>Plantwide overhead rate :</u>

Plantwide overhead rate = Total Overheads / Total Labor Hours

                                           =  $156,000 / 8,000

                                           =  $ 19.50

7 0
2 years ago
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The next dividend payment by Dizzle, Inc., will be $2.48 per share. The dividends are anticipated to maintain a growth rate of 4
Juliette [100K]

Answer:

Cost of equity   = 10.7%

Explanation:

<em>According to the dividend valuation, the value of a stock is the present value of expected future dividends discounted at the required rate of return.</em>

<em>The model can me modified to determined the cost of equity as follows:</em>

Cost of equity = D/P  + g

d- dividend payable next period, p- price of stock ,, - g- growth rate

D- 4.5%, p- $2.48 , g -4.5%

Cost of equity = (2.48 /39.85) + 0.045

                      = 10.7%

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2 years ago
When a complaint is lodged, or when inappropriate activity is brought to the attention of management, the manager should wait to
Natali [406]

Answer:

False

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Manager should start investigation as soon as complaint is brought to his notice. He must not wait for the charge to be proven. He should be the one taking lead on the investigation and responsible for investigation. And after investigation if charge is proven then he is supposed to apply penalty according to company's policy. And if not proven then talk to individual who brought the charge and give them proof.

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The director of hr at multimedia corporation is concerned about some stereotyping which has occurred in the work environment. to
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To combat this stereotyping the HR director has decided​ to<u> "adopt more transparent practices".</u>


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A club sold 80 boxes of candy, some at $1.75 and some at $3.25. total revenue was $160. an appropriate equation to determine the
Lorico [155]
20 dollars each box i think
5 0
2 years ago
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