Compute the cost that should be assigned to the inventory

Assignment Help Financial Accounting

Reference no: EM13906778

Hasham purchases inventory from overseas and incurs the following costs: the merchandise cost is $80,000, credit terms 1/10, n/30, applicable only to the $80,000; FOB shipping point freight charges are $2,500; insurance during transit is $300; and import duties are $1,500. Hasham paid within the discount period. Compute the cost that should be assigned to the inventory.

$83,500

$79,200

$81,700

$84,300

$81,000

Reference no: EM13906778

Questions Cloud

Elements of a column of a two-dimensional array : When processing all the elements of a column of a two-dimensional array, what possible runtime error do we have do worry about that the number of column elements may not be constant across all rows.

Prepare two income statements for matka company : Prepare two income statements for Matka Company

Direct labor cost and total manufacturing costs : During the month of September, direct labor cost totaled $21,000 and direct labor cost was 40% of prime cost. If total manufacturing costs during September were $103,000, the manufacturing overhead was:

What difference does borrowing rate make to choice of scheme : If the borrowing rate demanded by the bank is increased to 18% and the repayment method is as in (b), what difference does this make to the choice of scheme?

Compute the cost that should be assigned to the inventory : Hasham purchases inventory from overseas and incurs the following costs: the merchandise cost is $80,000, credit terms 1/10, n/30, applicable only to the $80,000; FOB shipping point freight charges are $2,500; insurance during transit is $300; and im..

Determine the normal stress in section bc : The rod ABC is made of steel (E = 29 X 10^6 psi). Determine the normal stress in section BC. Determine the deflection at point B and C.

Difference between long-term and short term liabilities : What is the difference between long-term liabilities and short term liabilities? How do bonds differ from other types of debt such as mortgages?

About the conversion cost : In September direct labor was 40% of conversion cost. If the manufacturing overhead for the month was $120,000 and the direct materials cost was $56,000, the direct labor cost was

Prepare quarterly manufacturing overhead budget : The fixed overhead and variable costs for product manufacturing company SCANDAL Pope Rowan are listed below: Prepare a quarterly manufacturing overhead budget for 2016.

User Account

All Pages