Answer:
b. The production decisions of a pharmaceutical firm
Explanation:
The production decisions of a pharmaceutical firm is an aspect of microeconomics.
Macroeconomics is a branch of economics that studies the economy
Microeconomics is a branch of economics that studies individuals, firms and households.
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Answer:
$318,400
Explanation:
Cost of Goods Sold $325,000
Less: Inventory Opening January 1 ( $ 31,800)
Add;Closing Inventory $25,200
Cost of Goods Manufactured $318,400
The cost of goods sold are found out by adding opening stock and deducting closing stock from cost of goods manufactured.
In the given scenario we had to follow reverse order to reach out at amount of cost of goods manufactured.
The amount of uncollectible accounts expense recognized on the Year 2 income statement is $1,830.
Explanation:
- On January 1, Year 2, Grande Company had balance = $69,600 in the Accounts Receivable account
- Grande provided services = $183,000
- The Allowance for Doubtful Accounts account = $2,600
- The company collected cash from accounts receivable = $215,500
- Uncollectible accounts are estimated to be = 1% of sales on account
- Thus, following calculation gives the desired result,
- Multiply amount of Grande services with 1% sales on account.
- i.e : $183,000 sales on account × 1% = $1,830
- So, the amount of uncollectible accounts expense is $1,830 as the income statement for the 2nd year.
- The reserves are recorded when, the uncollectible accounts expense are debited and credit the allowance for the uncollectible accounts.
- There are many reasons for the uncollectible accounts such as,
- the debtor's bankruptcy,
- the inability to get the debtor,
- fraud, etc
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