In 2021, holyoak inc. offers a coupon for $20 off qualifying purchases of its new line of products. holyoak sold 11,400 of these products during the year. by year-end of 2021, 8,500 coupons had been redeemed and the $20 reduction of purchase price provided to customers. holyoak's historical experience with such coupons indicates that 85% of customers use the coupon. holyoak recognizes coupon expense in the period coupons are issued.

what is the expense that holyoak should report for its promotional coupons in its 2021 income statement?

multiple choice

$181,400.
$228,000.
$193,800.
$170,000.

Factors like the unemployment rate, the stock market, global trade, economic policy, and the economic situation of other countries have no influence on the financial status of individuals. ( t or f)

The cost of direct labor used in production is recorded as a? a. credit to work-in-process inventory account. b. credit to wages payable. c. credit to manufacturing overhead account. d. credit to wages expense.

Inventory by three methods; cost of goods sold the units of an item available for sale during the year were as follows: jan. 1 inventory 20 units at $1,800 may 15 purchase 31 units at $1,950 aug. 7 purchase 13 units at $2,040 nov. 20 purchase 16 units at $2,100 there are 18 units of the item in the physical inventory at december 31. determine the cost of ending inventory and the cost of goods sold by three methods, presenting your answers in the following form: round your final answers to the nearest dollar. cost inventory method ending inventory cost of goods sold a. first-in, first-out method $ $ b. last-in, first-out method $ $ c. weighted average cost method $ $