Cor Jesu College
Rs. 0. No. 02 The cost accountant of Faizan Manufacturing Co, has prepared the following summary: - Inventories at 1" Sep. 1990 Rs. Raw Material 40,000 Work in Process 12,000 Fuel 2,000 Factory Repair Parts 2,800 Finished Goods 14,000 70,800 Raw Material Purchases 58,000 Fuel Purchases 5.200 Direct Labour 83,100 Miscellaneous Factory Overhead 2,300 Repairs to Factory (Including purchase of parts) 4,200 Depreciation of plant 2,700 Superintendence 1,200 Transportation out 1,100 Purchases Discount Lost 800 Indirect Factory labour 2,000 231,400 Inventories at 30th Sep. 1990 Raw Material 36,000 Work in Process 15,000 Fuel 3,400 Factory Repair Parts 2,600 Finished Goods 12,000 69,000 162,400
Required: A statement showing Cost of Goods Sold in proper form.
Romina Mondragon hired a lawyer to help her start Mondragon repair Service. On March 1, Romina deposited P143,750 in a bank account in the name of the entity. When the entity paid the lawyers bill of P8,750, the lawyer advised the entity to hire an accountant to keep its records. Romina was so busy that it was already March 31 when she hired Daniela Bartolome to straighten out her records. Daniela first task is to develop a trial balance based on March transactions, which are described in the next two paragraphs.
After the business began and the entity had paid the lawyers bill, the entity borrowed P62,500 from a bank.It later paid P3,250, including interest of P750, on this loan. It also acquired a second hand service vehicle in the entity’ name, paying P31,250 down and financing P92,500. The first payment on the vehicle is due April 15. The entity then leased an office and paid two month’s rent, P11,250 in advance. Credit acquisitions of office equipment of P10,000 and repair tools of P6,250 must be paid by April 10.
In March, Mondragon repair service completed repairs of P16,250, of which P5,000 were cash transactions. Of the credit transactions, P3,750 were collected during March, and P7,500 remained uncollected at the end of March. The entity paid salaries of P5,620 to its employees. On March 31, the entity received a P930 bill for the March utilities expense and a P620 check from a customer for work to be completed in April. A customer requested a repair on March 31 to be done the following week and agreed to pay P2,500 for it.
The next note that management is both a science and an art. Recall an interaction you have had with a "superior" (management, teacher, group leader). In that interaction, how did the superior use science? If he or she did not use science, what could have been done to use science? In that interaction, how did the superior use art? If he or she did not use art, what could have been done to use art?
cant seem to get the correct answer I know the steps on this worded problem I am working on. What I am in need of if the steps so far are right or wrong in solving it. it is in two parts. Heres the problem
2. Maria Rios sells commercial restaurant supplies and equipment. She is paid on a commission-only basis. Shereceives 2% for her sales up to $60,000. For the next $90,000 of sales, she is paid 3%, and for any sales above$150,000 she is paid 4%. How much commission would Maria earn in a month when her sales were$195,000?
3. Maria Rios (problem 2) is not paid commission on any restaurant supplies or equipment that are later returned.If an item is returned, its price is deducted from Maria’s total sales to get her net sales. The commission-onlyrate is applied to her net sales. Suppose that Maria sold merchandise worth $195,000 but that $40,000 of thatwas later returned.What would be Maria’s commission on net sa