Use the Following Information for the Following Questions:
on April $\$ 700$

question 42

Multiple Choice

Use the following information for the following questions:
On April 1, Heavy Metal Corp. consigned 50 handcrafted benches to Disco Co. Heavy Metal’s cost was $ 350 per bench. Total freight costs were $ 700, which were paid by Disco. On August 1, Heavy Metal received a cheque for $ 14,100 from Disco which included the following information:
Number of units sold:..............................20
Expenses deducted:
Freight:.......................................................... $\$ 700$
Commission (20\% of sales price) ...............?
Advertising.................................................. $\$ 450$
Delivery....................................................... $\$ 290$
-The inventory of benches will be reported on whose statement of financial position and at what amount?

• A) Heavy Metal's statement of financial position, $ 10,500
• B) Heavy Metal's statement of financial position, $ 10,920
• C) Disco's statement of financial position $ 10,500
• D) Disco's statement of financial position, $ 10,920

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Definitions:

Bruce Tuckman

An educational psychologist known for his model describing the stages of group development: forming, storming, norming, performing, and adjourning.

Performing

The act of carrying out or executing a task, action, or show with the intent to entertain, accomplish objectives, or demonstrate skills.

Little To No Supervision

A work scenario where employees are given the freedom to perform their tasks or projects with minimal to no oversight from managers or supervisors.

Areas Of Expertise

Specialized knowledge or skills in a particular field or domain.