Answer:
The total cost of goods sold = $70,000
Explanation:
Given:
Initial inventory at the start of the year for Jackson Co. = $20,000
Total cost of purchases made during the year = $80,000
Inventory remaining at the end of the year = $30,000
Solution:
Total inventory for Jackson Co. during the year = 
Inventory remaining at the end of the year = $30,000
The cost of the goods sold can be calculated by subtracting the remaining inventory from the total inventory.
Thus, cost of goods sold can be given as :
⇒ 
⇒ 
The total cost of goods sold = $70,000
Answer:
Material Cost variance = Standard cost - Actual cost
= 3000*5 - 16192
= 1192 A
Material Rate Variance = (S.R. - A.R.)A.Q
= (5 - 5.06)3200
= 192 A
Material usage variance = (S.Q. - A.Q.)S.R
= (3000 - 3200)5
= 1000 A
Working Notes:
Actual Output = 1500 units
Standard qty of Material for Actual Output = 1500*2
= 3000 pounds
Actual qty. used = 3200 pounds
Actual rate/pound = $16192/3200
= $5.06
Answer: The advantage of the basic earning power ratio (BEP) over the return on total assets for judging a company's operating efficiency is that the BEP does not reflect the effects of debt and taxes
Explanation:
a. This is correct.
The advantage of basic earning power ratio over the return on the total assets for judging a firm's operating efficiency is that the basic earning power does not reflect effects of debt and taxes.
b. This is incorrect.
Only the price/earnings ratio of the company will tell us nothing about a company. When we compare the price/earnings of a company with the peers, we would know whether such company is under valued, or over valued or maybe fairly valued.
c. This is incorrect.
The total assets is made up of total liabilities plus the shareholders equity, when other things are held constant, less debt simply means less liabilities. To balance both sides, the total assets should reduce as the shareholder's equity is constant. When total assets decreases, the return on the assets will increase.
d. This is incorrect.
We can reach a conclusion on which firm is better managed based on the facts given. The debt ratio is the total liabilities divided by total assets, and a lower ratio is known to be good in comparison to a higher ratio. Similarly, the profit margin is the profit divided by the sales, and low profit margin shows high expenses and also a need for the management to decrease the expense.
True, any institutional ads are intended to promote a company or something.
Answer:
$20,000
Explanation:
Calculation for what will be the balance in the allowance for doubtful accounts after the year-end adjustment to record bad debt expense
Using this formula
Balance in the allowance for doubtful accounts=
(Outstanding Accounts Receivable
* Percentage uncollectible)- Eebit balance of in the allowance for uncollectible accounts.
Let plug in the formula
Balance in the allowance for doubtful accounts=($500,000*8%)-$20,000
Balance in the allowance for doubtful accounts=$40,000-$20,000
Balance in the allowance for doubtful accounts=$20,000
Therefore the balance in the allowance for doubtful accounts after the year-end adjustment to record bad debt expense is $20,000
