On August 5, 2018, Sheridan Furniture shipped 50 dining sets on consignment to F

Question

On August 5, 2018, Sheridan Furniture shipped 50 dining sets on consignment to Furniture Outlet, Inc. The cost of each dining set was $280 each. The cost of shipping the dining sets amounted to $1730 and was paid for by Sheridan Furniture. On December 30, 2018, the consignee reported the sale of 40 dining sets at $780 each. The consignee remitted payment for the amount due after deducting a 5% commission, advertising expense of $530, and installation and setup costs of $710. The total profit on units sold for the consignor is

Please show your calculations

Explanation / Answer

Answer

D ) 28400

sale of dinning set 40 * 780 = 31200

less;

commission 5 % = 1560  

advt of expense = 530

installation setup cost = 710   

cash famous furniture = 28400

Related Questions

Navigate

• Browse (All)
• Browse O
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.