Reference no: EM132844128
The income statement submitted by Loon Branch to the Home Office for the month of December 31, 2013 follows:
Sales P600,000
Cost of Sales:
Inventory, December 31, 2013 P80,000
Shipments from Home office 350,000
Purchased locally by branch 30,000
Total P460,000
Inventory, December 31, 2013 100,000 360,000
Gross Margin P240,000
Operating Expenses 180,000
Net Income for the month P60,000
The Branch inventories consisted of:
12/1/2012 12/31/2012
Merchandise purchased from home P70,000 P84,000
Local purchases P10,000 P16,000
Total P80,000 P100,000
After effecting the necessary adjustments, the Home Office ascertained the true net income of the Branch to be P156,000.
Problem 1. At what percentage of cost did the home office bill the branch for merchandise shipped to it?
Problem 2. What is the balance of the Allowance for Overvaluation in the branch inventory at December 31, 2013?
|
Discussion on the sample size
: What would be the implication of having less marginal error to the sample size
|
|
What are sources of power often seen in organizations
: What are the sources of power often seen in organizations? Be sure to give the definition of each source of power.
|
|
How the role of the apn might change
: Discuss the access, cost, and quality of quality environments, as well as recent quality initiatives (See Chapter 24 and Table 24.1). Student is to reflect on.
|
|
Conduct a chi-square test for independence
: A psychologist studying addiction tests whether cravings for cocaine and relapse are independent. The following table lists the observed frequencies in the smal
|
|
What is the balance of the allowance for overvaluation
: After effecting the necessary adjustments, What is the balance of the Allowance for Overvaluation in the branch inventory at December 31, 2013?
|
|
Discuss the importance of organizational subcultures
: Describe the elements of organizational culture, and discuss the importance of organizational subcultures.
|
|
What is the net realizable value of the accounts receivable
: Net credit sales totaled P4,500,000 during the year while collections amounted to P4,400,000. What is the net realizable value of the Accounts Receivable
|
|
What are your strategies for success
: As you near the end of the program, please share your hopes, desires, and concerns for your upcoming transition into professional nursing.
|
|
Find the sample mean and sample standard deviation
: Find the sample mean and sample standard deviation for your 10 vehicle prices (HINT: you already did this during week 2... you found the mean and standard
|