Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. question 10 during 2017, bramble furniture company

Question 10 During 2017, Bramble Furniture Company purchases a carload of wicker chairs. The manufacturer...

80.2K

Verified Solution

Question

Accounting

image

Question 10 During 2017, Bramble Furniture Company purchases a carload of wicker chairs. The manufacturer sells the chairs to Bramble for a lump sum of $55,700 because discontinuing manufacturing operations and wishes to dispose of its entire stock. Three types of chairs are included in the carload. The three types and the estim price for each are listed below Estimated Price Each $90 80 50 Selling Type Lounge chairs Armchairs Straight chairs No. of Chairs 400 300 600 During 2017, Bramble sells 100 lounge chairs, 100 armchairs, and 130 straight chairs What is the amount of gross profit realized during 2017? What is the amount of inventory of unsold straight chairs on December 31, 2017? (Round cost per ch decimal places, e.g. 78.25 and final answer to 0 decimal places, e.g. 5,845.) Gross profit realized during 2017 Amount of inventory of unsold straight chairs

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Psychology
1.2K views

How does social science inquiry advance and evolve over time? Why is it important that our understanding...

Geometry
1.2K views

above If the horisontal distance bebwean the hellcopter en 3 055 feet and the angle...

Basic Math
1.2K views

What is the length of the altitude? (also called the geometric mean)O 2.45O 3.46O 4.90O...

Calculus
1.2K views

Find all real solutions of the equation by completing the square Enter your answers as...

Algebra
1.2K views

Identify all edges on the graph that are bridges The edges are bridges to reparate...

Accounting
1.2K views

On 30 June 2020, Irfan Company's $1200 petty cash fund has cash of $256 and...

Accounting
1.2K views

Find the value of X given the following information: Setup Cost =$180 Carrying Cost /...

Accounting
1.2K views

HELP! already answered!! Please clarify for me please if correct! Double check for me please!!!...

Accounting
1.2K views

wwwy who of the dates will not be there CO3 Cases 217 171 348 Arber...

Finance
1.2K views

Youve collected the following information from your favorite financial website. ...

Finance
1.2K views

Assume a stock is trading at $100, the volatility of the stock is 26%, and...

Finance
1.2K views

Right click on image and open image in new tab if text is too blurry....