Answer:
$84,150
Explanation:
Given that
Sale amount = $85,000
Terms = 1% discount is given it payment is made within 15 days and the total credit period allowed is 30 days
The computation of the amount of account receivable that should be recorded is shown below:
= Sale amount - sale amount × discount rate given
= $85,000 - $85,000 × 1%
= $85,000 - $850
= $84,150
Simply we deduct the discount period from the sales amount so that the accurate value could come
Answer:
$46,000
Explanation:
We can find out the the revaluation gain that need to be reported at the year end by just deducting the the cost of the investment by its current fair value .
DATA
Fair value = 588,000
Cost = 542,000
Revaluation gain = Current fair value - Cost
Revaluation gain = 588,000 - 542,000
Revaluation gain = $46,000
The revaluation gain of $46,000 will be reported in other compreensive income of smith's financial statements.
Answer:
When you collect all the costs related to performing a particular activity (e.g. producing a product), you have created an activity cost pool. This helps to get an accurate estimate of the cost of that activity or task and is mostly applied in <em>activity-based costing system</em>. Different activities may require different cost pools.
The activities below are thus classified accordingly:
1. Labelling and Packaging - <em>Batch Cost Pool</em>
2. Plant Security - <em>Facility Level Cost Pool</em>
3. Sales Commission - <em>Product Cost Pool.</em> (This is incurred in selling the product and so must be pre-built into the price of the product.
4. Supplies - <em>Unit Level Cost Pool </em>(Supplies are incidental items that are expected to be consumed in the near future. Examples are paper clips that you use in the daily workings of the business. Supplies are differ from Materials which refer to the raw stock from which finished goods are made. Examples of material are raw materials, components, sub-components, and production supplies. Materials would go under Product Cost Pool.
Cheers!
Answer:
Instructions are below.
Explanation:
Giving the following information:
Job 765:
Direct material= $5,670
Direct labor= $3,500
Machine Hours= 27
Job 766:
Direct material= $8,900
Direct labor= $4,775
Machine Hours= 44
Job 765 produced 152 units, and Job 766 consisted of 250 units.
Assuming that the predetermined overhead rate is applied by using machine hours at a rate of $200 per hour.
Costs sheet:
<u>Job 765:</u>
Direct material= 5,670
Direct labor= 3,500
Allocated overhead= 200*27= 5,400
Total cost= 14,570
Unitary cost= 14,570/152= $95.85
<u>Job 766:</u>
Direct material= 8,900
Direct labor= 4,775
Allocated overhead= 200*44= 8,800
Total cost= 22,475
Unitary cost= 22,475/250= $89.9
I think the likely response from the bank is that probably the date when you issued the checks is not the same when the beneficiary cashed or deposited them.