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Problem 1: On May 9, 2020, RAINBOW Corporation sold merchandise with a list price of ?150,000 to COLORS on account. RAINBOW allowed trade discounts of 30% and 20%. Credit terms were 2/15, n/40 and the sale was made FOB Shipping point. RAINBOW prepaid ?6,000 of delivery costs for COLORS as an accommodation. What amount should COLORS remit to RAINBOW as full payment on May 24, 2020?
a. ? 88,200b. ? 94,200c. ? 82,320d. ? 88,320
Weston Corporation is considering eliminating a department that has a contribution margin of $70,000 and $140,000 in fixed costs. Of the fixed costs, $100,000 cannot be avoided. The effect of eliminating this department on Weston's overall net operat..
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