On November 30,2016,the General Ledger of Hinges and More Hardware,a

question 89

Essay

On November 30,2016,the general ledger of Hinges and More Hardware,a retail store,showed the following balances: Purchases,$136,750;Freight In,$2,500;Purchases Returns and Allowances,$4,000.
Determine the following:
A)What was the delivered cost of purchases for November?
B)What was the net delivered cost of purchases for November?

• A)What was the delivered cost of purchases for November?
• B)What was the net delivered cost of purchases for November?

Calculate a mutual fund's Net Asset Value (NAV) from given assets and liabilities.

Identify the largest class of mutual funds by assets invested.

Understand the purpose and types of fees associated with mutual funds.

Determine the share count of a mutual fund based on its NAV and net assets.

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Definitions:

Fixed Expenses

Costs that do not vary with the level of production or sales over a short period, such as rent and salaries.

Relevant Costs

Future costs that will differ under various alternatives, considered important for making financial decisions.

Special Order

An order for goods or services that is outside the company's normal scope of operations or requires customization to meet the customer's specific requirements.

Excess Capacity

A situation where a company can produce more goods or services than currently demanded by the market, indicating underutilization of resources.