Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Surplus Stores Ltd is a company which frequently buy goods in large quantities and makes alterations to the goods before selling. At 31 Dec 2000 the following items were included in stock:
(1) 8000 pairs of rubber boots. These had cost $6.50 per pair. In order to make them saleable Surplus Stores Ltd will buy linings at a cost of $1.20 per pair. These linings have not yet been delivered or paid for. The labour cost of fitting linings to boots will total $500. The expected selling price is $9.95 per pair.
(2) 100 pairs of fire damaged shoes. These cost $3000 in total. 200 pairs are so badly damaged that they will be destroyed. The remaining 800 pairs will need cleaning and polishing at a total cost of $960. This work has not yet been done. It is expected that the shoes will sell for $7.49 per pair.
(3) 40 large tents which were purchased for $150 each. After inspection the company estimated that repairs to the tents will cost a total of $250. These repairs will take 2 months and the company estimates the storage costs will amount to $1 per tent per month. The company is expecting to sell the tents for $180 each but expects to give a trade discount of 5% on half the tents and pay carriage of $4 per tent on 40% of the tents.
(4) 500 jackets in a now unfashionable style. Surplus Stores Ltd paid $8 for each jacket but is offering to sell them at $10 each. The company expects to sell 200 at this price with the remainder being sold off at $9 each. For all jacket sales they will have to pay packing and carriage of $1.50 per jacket.
(5) 20 cameras which were bought for a total cost of $1240. The company has decided to include a case, costing $2.50 and additional equipment, costing $6 with each camera which will then retail at $89. The cases and additional equipment have yet to be acquired.
REQUIRED:
Calculate the total and the total net realizable value for each of the above items at 31 Dec 2000.
The profit volume ratio of xltd. is 50% and the margin of safety is 40%.you are required to calculate the net profit if sales volume is rs.100,000?
Semi Fixed Costs Are costs along with both a variable and fixed cost component? The fixed component is such portion that is constant irrespective of the level of activity. The
Understanding the existing capital requirements and how these are financed will assist us in understanding the process of financing of business and the flow of funds inside the bus
How relevant to the decision are the $800(000) initial cost of the project and the operating losses of $300(000)? Calculate the incremental liquidation cash flows for the abando
Integrated Ledger System An integrated account ledger system, which has a number of features that may be viewed as preferable to the interlocking ledger system. In present dec
What do you mean by differential costing ? How it differ from marginal costing ? explain its practical application with examples?
Waylander Coatings Company purchased waterproofing equipment on January 6, 2013, for $320,000.The equipment was expected to have a useful life of four years, or 20,000 operating ho
Analysis of stockholders equity: Star Corporation issued both common and preferred stock during 19X6. The stockholders' equity sections of the company's balance sheets at the
#question techniques of payment under group bonus plan .
On January 1, 2012 Morgan's Motors issued $500,000 of 3-year, 8% bonds when the market yield was 6%. The bond agreement stated that compounding was semi-annual with payments due on
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd