User Account

All Pages

Calculate the buyer otb at retail as of july

Assignment Help Accounting Basics
Reference no: EM133085186

Question - The planned initial markup in a department, as indicated on the merchandise plan, is 42.5%. The planned sales for the month of July are $38,000 with markdowns of $2090. The merchandise plan also indicates that the planned BOM stock for the month is $36,700 and the planned EOM stock is $37,500. As of July 1 the buyer has merchandise on order of $12,000 at retail to be delivered during the month. Calculate the buyer's OTB at retail as of July 1.

a. $48,700.00

b. $16,611.75

c. $16,151.75

d. $28,890.00

e. $28,090.00

Reference no: EM133085186

Questions Cloud

First steps in a leadership action : How have you demonstrated that you have been willing to take the first steps in a leadership action while you are studying to be an ESL Teacher?
How jim takes a cultural relativism approach to problem : 1. Discuss some of the choices of the firm and the advantages and disadvantages of each.
Explore how ethical behaviour was affected : Can ethical responses to topics, issues or problems be influenced by national or ethnic cultural traits reflected in Hofstede's dimensions
Organizational proposal template : Prepare a proposal that you would present to the new business development team of your FSP that details the financial solution suggested for this client.
Calculate the buyer otb at retail as of july : As of July 1 the buyer has merchandise on order of $12,000 at retail to be delivered during the month. Calculate the buyer's OTB at retail as of July 1
People management fiasco in honda motorcycles and scooter : What HRM strategy was being pursued by the management, and what factors led to its failure?
Prepare a table showing depreciation and book value : NewTech purchases computer equipment for $262,000 to use in operating activities for the next four years. Prepare a table showing depreciation and book value
Determine the labor rate variance : In month of April, the company actually produced 5,200 sleeping bags using 27,300 yards of material at a cost of $6.10 per yard. Determine labor rate variance
Global environmental problems : Why do governments have so much difficulty agreeing with each other on the measures against global environmental problems?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How these controls will act as a deterrent to fraudulent

Discuss how the Securities and Exchange Commission (SEC) continues to fail to detect fraudulent activities in publically traded companies. Suggest a recommendation for improvement.

  What financial statement is not for a period of time

What financial statement is not for a period of time? Which the Sarbanes-Oxley Act cover all of the below except? Financial disclosure

  Compute total budgeted costs

In Moore Company's flexible budget graph, the fixed cost line and the total budgeted cost line intersect the vertical axis at $90,150.

  In recent years there has been more of a shift towards more

in recent years there has been more of a shift towards more branding and advertising as opposed to focusing on product

  Compute the cash collections during January

All sales are credit sales. Cheroke Company usually collects 40% of its sales during the month of sale, Compute the cash collections during January

  At the beginning of the year uptown athletic had an

at the beginning of the year uptown athletic had an inventory of 400000. during the year the company purchased goods

  What amount of royalty expense should be reported

Don Mario reported royalty expense of P375,000 for the year ended December 31, 2X20. What amount of royalty expense should be reported in 2X20 profit or loss?

  What was the overall fixed overhead volume variance

The standard hours allowed for the actual output of the month totaled 3,450 machine-hours. What was the overall fixed overhead volume variance for the month

  What are the analysis and journal entries

What are the analysis and journal entries, if any? On January 1, 2020, MNO Company purchased a mining site that will have to be restored to certain

  Compute the equivalent units

Compute the equivalent units for May for the Cleaning Department, assuming that the company uses the weighted - average method of accounting for units.

  Key arguments for and against accounting treatment

Imagine that management is considering a nonreciprocal transfer of an old asset. Determine the key arguments for and against the accounting treatment of a nonreciprocal transfer. Select a position for or against the accounting treatment, and exp..

  What is the amount that must presented as a sales tax

During the month of January 2019, What is the amount that must presented as a sales tax expense on the Income statement for the month of January?

Free Assignment Quote

Assured A++ Grade

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd