Milton's Tool and Tile sells a range of products. This week, the shipping department received 500...

Milton's Tool and Tile sells a range of products. This week, the shipping department received 500 gallons of paint, purchased at a cost of $20 each, which were distributed among 18 stores. 420 were sold for $30 each across all stores.

The cost of goods sold equals ___________.

Solutions

Expert Solution

Cost of goods sold = Units sold*Cost per unit

= 420*20

=$8,400

Hence, the answer is $8,400

ekkarill92 answered 2 years ago

Next > < Previous

Related Solutions

Alameda Tile sells products to many people remodeling their homes and thinks that it could profitably...

Alameda Tile sells products to many people remodeling their homes and thinks that it could profitably offer courses on tile installation, which might also increase the demand for its products. The basic installation course has the following (tentative) price and cost characteristics: Tuition $ 800 per student Variable costs (tiles, supplies, and so on) 480 per student Fixed costs (advertising, salaries, and so on) 160,000 per year Required: a. What enrollment will enable Alameda Tile to break even? b. How...

Quality Products Company has a broad range of products it sells in a four-state area. Sales...

Quality Products Company has a broad range of products it sells in a four-state area. Sales for the four quarters of 2019 are expected to be $575,000, $412,000, $749,000, and $638,000, for an annual total of $2,374,000. Cost of goods sold averages 57% of sales. Ending inventory for each quarter should be 10% of cost of goods sold for the following quarter. Inventory at January 1 is expected to be $40,000. Required: Show calculations for ending inventory, purchases, and cost...

Scenario Media Wise sells a range of media products in package deals. The products sold within...

Scenario Media Wise sells a range of media products in package deals. The products sold within bundles are as follows. TV Stand Speaker Selling Price (£) 400 50 40 Variable Cost (£) 250 30 25 Package A consists of a TV and a stand and is sold for a discounted price of £420. Package B consists of a TV, a stand and two speakers and is sold for a discounted price of £480. Currently packages are sold in a ratio...

Scenario 6 Media Wise sells a range of media products in package deals. The products sold...

Scenario 6 Media Wise sells a range of media products in package deals. The products sold within bundles are as follows. TV Stand Speaker Selling Price (£) 400 50 40 Variable Cost (£) 250 30 25 Package A consists of a TV and a stand and is sold for a discounted price of £420. Package B consists of a TV, a stand and two speakers and is sold for a discounted price of £480. Currently packages are sold in a...

Scenario 3 Media Wise sells a range of media products in package deals. The products sold...

Scenario 3 Media Wise sells a range of media products in package deals. The products sold within bundles are as follows. TV Stand Speaker Selling Price (£) 400 50 40 Variable Cost (£) 250 30 25 Package A consists of a TV and a stand and is sold for a discounted price of £420. Package B consists of a TV, a stand and two speakers and is sold for a discounted price of £480. Currently packages are sold in a...

A department store manager has monitored the number of complaints received per week about poor service....

A department store manager has monitored the number of complaints received per week about poor service. The probabilities for numbers of complaints in a week, established by this review, are shown in the table. Number of complaints 0 1 2 3 4 5 Probability 0.20 0.29 0.26 0.12 0.05 0.08 What is the probability of between 1 and 3 (inclusive) complaints received per week? Please specify your answer in decimal terms and round your answer to the nearest hundredth (e.g.,...

A department store manager has monitored the number of complaints received per week about poor service....

A department store manager has monitored the number of complaints received per week about poor service. The probabilities for numbers of complaints in a week, established by this review, are shown in the table. Number of complaints 0 1 2 3 4 5 Probability 0.10 0.29 0.33 0.13 0.07 0.08 What is the probability of between 2 and 3 (inclusive) complaints received per week? Please specify your answer in decimal terms and round your answer to the nearest hundredth (e.g.,...

A local pizzeria sells 500 large pepperoni pizzas per week at a price of $20 each....

A local pizzeria sells 500 large pepperoni pizzas per week at a price of $20 each. Suppose the owner of the pizzeria tells you that the price elasticity of demand for his pizza is -2, and he asks you for advice. He wants to know two things. First, how many pizzas will he sell if he cuts his price by 10%? Second, how will his revenue be affected? If he cuts his price by 10%, his sales will increase to...

5.23 Negligence StirMed sells a range of medical products mainly through representatives visiting hospitals and...

5.23 Negligence StirMed sells a range of medical products mainly through representatives visiting hospitals and doctors. StirMed has been going through lean times recently and managing day-to-day cash flow has become a challenge. In spite of the cash flow difficulties, the financial report to 30 June 2015 showed reasonable revenue; however, there were high levels of both receivables and payables and the bank overdraft was getting close to its agreed limit. The auditors, Brent, Date and Co, completed their...

Subjects