Business, 26.11.2019 05:31 mooncake9090

On october 29, lobo co. began operations by purchasing razors for resale. the razors have a 90-day warranty. when a razor is returned, the company discards it and mails a new one from merchandise inventory to the customer. the company’s cost per new razor is $20 and its retail selling price is $75. the company expects warranty costs to equal 8% of dollar sales. the following transactions occurred. nov. 11 sold 105 razors for $7,875 cash. 30 recognized warranty expense related to november sales with an adjusting entry. dec. 9 replaced 15 razors that were returned under the warranty. 16 sold 220 razors for $16,500 cash. 29 replaced 30 razors that were returned under the warranty. 31 recognized warranty expense related to december sales with an adjusting entry. jan. 5 sold 150 razors for $11,250 cash. 17 replaced 50 razors that were returned under the warranty. 31 recognized warranty expense related to january sales with an adjusting entry. 2. how much warranty expense is reported for november and december?

Answers: 2

Show answers

Another question on Business

Business, 22.06.2019 02:10

Materials purchases (on credit). direct materials used in production. direct labor paid and assigned to work in process inventory. indirect labor paid and assigned to factory overhead. overhead costs applied to work in process inventory. actual overhead costs incurred, including indirect materials. (factory rent and utilities are paid in cash.) transfer of jobs 306 and 307 to finished goods inventory. cost of goods sold for job 306. revenue from the sale of job 306. assignment of any underapplied or overapplied overhead to the cost of goods sold account. (the amount is not material.) 2. prepare journal entries for the month of april to record the above transactions.

Answers: 1

Answer

Business, 23.06.2019 00:30

Which of the following emails should he save in this folder instead of deleting or moving it to another folder

Answers: 1

Answer

Business, 23.06.2019 00:50

Aproduction department's output for the most recent month consisted of 8,000 units completed and transferred to the next stage of production and 5,000 units in ending work in process inventory. the units in ending work in process inventory were 50% complete with respect to both direct materials and conversion costs. calculate the equivalent units of production for the month, assuming the company uses the weighted average method.

Answers: 3

Answer

Business, 23.06.2019 07:50

Suppose for a consumer the marginal utility (mu) of bread is 20 utils and the mu of milk is 10 utils; the price of bread is $3 and the price of milk is $1. given this, a. more utility per dollar is gained from consuming bread than milk. b. more utility per dollar is gained from consuming milk than bread. c. the same amount of utility per dollar is gained from consuming milk as bread. d. the consumer is in consumer equilibrium.

Answers: 1

Answer

You know the right answer?

On october 29, lobo co. began operations by purchasing razors for resale. the razors have a 90-day w...

Questions