Answer:
The estimated bad debt expense using the percentage of credit sales method is $4,250.
Explanation:
Credit losses = Net credit sales * Historical percentage of credit losses = $122,500 * 4% = $4,900
Allowance for doubtful accounts has a credit balance = $650.
The estimated bad debt expense can therefore be calculated as follows:
Bad debt expense = Credit losses - allowance for doubtful accounts credit balance = $4,900 - $650 = $4,250
Therefore, the estimated bad debt expense using the percentage of credit sales method is $4,250.
Answer:
The money multiplier and money supply for this banking system is 10 and $1,000 billion respectively
Explanation:
The computation of the money multiplier and the money supply is shown below:
As we know that
Money multiplier is
= 1 ÷ required reserve ratio
= 1 ÷ 0.10
= 10
So, the money supply is
= Total Reserves × Money Multiplier
= $100 billion × 10
= $1,000 billion
hence, the money multiplier and money supply for this banking system is 10 and $1,000 billion respectively
<h2>The given answer "contingency approach" is right.</h2>
Explanation:
- It is also termed as "situational approach"
- Each and every situation has unique solution
- The solution will be designed based on the situation
- It was designed or proposed by "Fred Edward Fiedler"
Based on the given situation, the bride has only limited money and now the Catering manager has to provide the best food within the stipulated budget.
So, menu can be anything which uses cost-effective, low budget vegetables, recipes which uses less ghee or oil, sea foods or other non-vegetarian which costs less and best should be listed.
Answer:
1) the total manufacturing cost is=$510
2) cost per unit=$12,75unit
Explanation:
The following information pertains to Job A-500:
Direct materials $ 231
Direct labor $ 153
We need to calculate the amount of overhead for Job a-500.
We know that the overhead is determined by labor hours. The hour price is $17.
The number of hours: $153/17=9hours
Overhead= 9hours*$14=$126
1) the total manufacturing cost is=231+153+126=$510
2) cost per unit= $510/40units=$12,75unit
Disability income insurance will provide income to a disabled or ill person with a waiting period before income is received. Commonly, when a person applies for disability income insurance and is taking out money from the government for disability there is a period of waiting. During this period they review all information given and decides whether or not the person applying actually qualifies for the funds they are wanting to receive. Most states have a set time frame they have to wait and also a set time frame of how long people can receive funds for.
