On October 5, Metlock Company buys merchandise on account from Ivanhoe Company. The selling price of the goods is $5,240, and the cost to Ivanhoe Company is $3,180. On October 8, Metlock returned defective goods with a selling price of $640 and a scrap value of $310. Record the transactions of Metlock Company, assuming a perpetual approach.
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3. describe the purpose of the sec. (1-4 sentences. 2.0 points)
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Two products, qi and vh, emerge from a joint process. product qi has been allocated $34,300 of the total joint costs of $55,000. a total of 2,900 units of product qi are produced from the joint process. product qi can be sold at the split-off point for $11 per unit, or it can be processed further for an additional total cost of $10,900 and then sold for $13 per unit. if product qi is processed further and sold, what would be the financial advantage (disadvantage) for the company compared with sale in its unprocessed form directly after the split-off point?
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The undress company produces a dress that women use to quickly and easily change in public. the company is just over a year old and has been successful through a kickstarter campaign. the undress company has identified a customer segment, but if it wants to reach a larger customer segment market outside of the kickstarter family, what question must it answer?
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On October 5, Metlock Company buys merchandise on account from Ivanhoe Company. The selling price of...
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