Cost and freight - Study guides, Class notes & Summaries

Defferral a revenue or an expense event that is recognized after cash has been exchanged prepaid items Deferred expenses (ex. prepaid insurance or prepaid rent) Revenue an increase in assets or a decrease in liabilities that a company obtains by providing customers with goods or servics cash discount Price reduction on merchandise sold offered by sellers to encourage prompt payment; when taken, represents a sales discount to the seller and a purchase discount to the buye...

©THESTAR EXAM SOLUTIONS 2024/2025 ALL RIGHTS RESERVED. IDIS 240 EXAM 2 - EVAN VESTAL - SPRING Questions With Verified Answers List Price - AnswersNationally Advertised Price Selling Price - AnswersList Price - Trade Discounts = COGS + Margin or = COGS + Markup Net Price - AnswersSelling price - all allowable discounts (cash discounts), equal to selling price IF NO DISCOUNTS Cost of Goods Sold (COGS) - AnswersCost of Merchandise + Freight charges from Manufacturer Freight Cost - Ans...

IDIS 240 Final Exam – Vestal Questions with Complete Solutions 100% Cash Flow - Correct Answer Cash in bank > purchased inventory > sold inventory > accounts receivable > cash in bank List Price - Correct Answer The retail price listed selling price - Correct Answer list price - trade discounts Net price - Correct Answer = selling price - allowable discounts (cash discounts) Net Sale Cost of Good Sold (COGS) - Correct Answer = Cost of Merchandise + Freight from Manuf...

Compute freight costs based on weight (in tons), distance and freight rate (based on full truck load or partial truck load): correct answers Freight cost = D x Wt x Rt D = Distance Wt = Annual weight in tons = R*w/2000 lbs/ton R = Rate (Freight cost in ton-miles) Compute inventory holding costs after determining average inventory: correct answers Annual Holding cost= (Q/2)kc = (order quantity/2)(holding cost)(purchase cost) Annual Order Cost= (R/Q)s = (annual requirements/order quantity...

IDIS 240 exam 2 with Complete Solutions FOB Free of board NPBT Net Profit before tax NPAT net profit after tax SGA selling general and administrative expense EBITDA earnings before interests taxes depreciation and amortization - raising prices increases earning but cutting cogs and expenses provides higher increase GMROII gross margin return on inventory investment EBIT earnings before interests taxes UOM unit of measure OEM original equipment manufacturer MRO m...

Chapters 8-12 ACG 4101 HW Question and answers verified to pass The following costs pertain to Pete Co.'s purchase of inventory in year 4, Pete Co.'s first year of operations: 1200 units of product X 12,500 Insurance cost during transit of purchased goods 200 Freight-in 350 Cost of labor to bring product X to saleable condition 3,200 Total 16,250 None of the inventory was sold during year 4. What will be the ending balance in Pete Co.'s inventory? 12,500 16,250 13,050 1...

Cash Flow - Answer-Cash in bank > purchased inventory > sold inventory > accounts receivable > cash in bank List Price - Answer-The retail price listed selling price - Answer-list price - trade discounts Net price - Answer-= selling price - allowable discounts (cash discounts) Net Sale Cost of Good Sold (COGS) - Answer-= Cost of Merchandise + Freight from Manufacturer Trade Discounts - Answer-specify term of sale and change of price with how they see fit. Cash Discounts - Ans...

SCMN 3720 - Exam 3 Russell Questions and Answers Already Passed What development, in the mid-19th century, affected the use of water as the primary mode of bulk transportation movement in the United States and its cities? The first particle form of long distance freight and people transportation Which other transportation mode does water primarily compete with for the movement of dry bulk commodities? Railroads Which other mode does water primarily compete with for the movement of...

Freight costs incurred by the seller on outgoing merchandise are an operating expense to the seller. -True or False - ANSWERTrue For a jewelry retailer, which is an example of Other Revenues and Gains? -Gain on sale of display cases -Discount received for paying for merchandise inventory within the discount period -Unearned revenue -Repair revenue - ANSWERGain on sale of display cases The operating cycle of a merchandising company is ordinarily shorter than that of a serv...

3. If a purchaser using a periodic inventory system pays the transportation costs, then the a. Merchandise Inventory account is increased. b. Merchandise Inventory account is not affected. c. Freight-in account is increased. d. Delivery Expense account is increased. - ANSWERc. Freight-in account is increased. 4. Freight costs incurred by a seller on merchandise sold to customers will cause an increase a. in the selling expenses of the buyer. b. in operating expenses for the seller. c. ...