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Dafna1 [17]
3 years ago
10

For June, Gold Corp. estimated sales revenue at $400,000. It pays sales commissionsthat are 4% of sales. The sales manager's sal

ary is $190,000, estimated shippingexpenses total 1% of sales, and miscellaneous selling expenses are $10,000. How muchare budgeted selling expenses for the month of July if sales are expected to be$360,000?
Business
1 answer:
bogdanovich [222]3 years ago
8 0

Answer:

The budgeted selling expenses for the month of July is $220,000

Explanation:

The computation of the budgeted selling expenses are shown below:

= Sales commission + sales manager's salary +  shipping expenses +  miscellaneous selling expenses

where,

Sales commission = Sales × commission percentage

                              = $400,000 × 4%

                              = $16,000

Shipping expenses = Sales × expenses percentage

                                = $400,000 × 1%

                                = $4,000

The other expenses amount would remain the same

Now put these values to the above formula  

So, the value would equal to

= $16,000 + $190,000 + $4,000 + $10,000

= $220,000

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If goods in transit are shipped FOB destination
AleksandrR [38]

Answer:

b. the seller has legal title to the goods until they are delivered.

Explanation:

When the goods are in the transit and are shipped FOB destination, the title of the goods would be with the seller. If the goods are delivered, then the legal title would be transferred from the seller to the buyer. Until the goods are in transit, the legal title is with the seller itself.  

Both the parties are eligible for the legal title. It can be either a buyer or seller depending upon the situations

Hence, the correct option is b and the rest options are wrong

5 0
2 years ago
Brandtly Industries invests a large sum of money in R&D; as a result, it retains and reinvests all of its earnings. In other
Rama09 [41]

Answer:

a. What is the present value of the free cash flows projected during the next 4 years?

the NPV of the firm's cash flows = $3/1.09 + $6/1.09² + $8/1.09³ + $16/1.09⁴ = $2,752,294 + $5,050,080 + $6,177,468 + $11,334,803 = $25,314,645

b. What is the firm’s horizon, or continuing, value?

to calculate terminal or horizon value at year 4, we must use the Gordon growth model formula:

terminal value = [$16,000,000 (1 + 3%)] / (9% - 3%) = $16,480,000 / 6% = $274,666,667

c. What is the firm’s total value today?

firm's total present value = $25,314,645 + ($274,666,667/1.09⁴) = $219,895,463

d. What is an estimate of Brandtly’s price per share?

Brandtly's share price = (firm's present value - total debt) / outstanding stocks = ($219,895,463 - $75,000,000) / 7,500,000 million stocks = $19.32 per stock

7 0
3 years ago
On January 1, 2017, MM Co. borrows $350,000 cash from a bank and in return signs an 4% installment note for five annual payments
frez [133]

Answer:

a. Journal entry to record the issue of notes

Date           Account Title & Explanation   Debit $        Credit $

Jan 1          Cash                                           350,000

                 Notes Payable                                                350,000

                  (To record the issue of notes payable)

b. Calculation of Interest Expenses

                      Particulars                           Amount $

Beginning balance of loan payment         350,000

Annual interest rate                                          4%

Interest expenses                                         14,000

Hence the interest expenses = $14,000

Principal amount is calculated as the difference between the annual payment and the interest expenses as seen below

                   Particulars                           Amount $

Annual payment                                      96,590

Less: Interest expenses                          14,000

Principal Payment                                  82,590

Hence, the principal payment =$82,590

6 0
3 years ago
Lynette Company's Inventory balance at 12/31/04 was $200,000 and was $188,000 at 12/31/05. Its Accounts Payable balance e at 12/
Viefleur [7K]

Answer:

A) $704,000.

Explanation:

For computing the cash payments we need to calculate the following amounts which are as follows

Total purchases = cost of goods sold + ending inventory - opening inventory

= $720,000 + $188,000 - $200,000

= $708,000

Now cash payment to merchandise is

= Beginning account payable balance + purchased made - ending account payable balance

= $80,000 + $708,000 - $84,000

= $704,000

Hence, the correct option is A. $704,000

3 0
3 years ago
What is the formal agreement between two or more countries trade,peace and other matters called?
Arlecino [84]
Pretty sure its a treaty

5 0
3 years ago
Read 2 more answers
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