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alina1380 [7]
4 years ago
15

Saphire Company budgeted the following production in units for the second quarter of the year:

Business
1 answer:
klasskru [66]4 years ago
6 0

Answer:

45.60

Explanation:

the policy indicates that 30% of the production of the following month is the desired inventory at the end of the current month.

For the end of April, the projected units for the following month, 38,000 units, which require 4 pounds each.

38,000 x 4 = 152,000 pounds needed in May.

Inventory at the end of April 30% x 152,000 = 45600 Pounds

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Smith Company exchanges assets to acquire a building. The market price of the Smith stock on the exchange date was $35 per share
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Explanation:

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3 years ago
During its first year of operations, Fisher Plumbing Supply Co. had sales of $480,000, wrote off $7,700 of accounts as uncollect
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Answer:

Sales                                       $480,000

<em>Less: Expenses (Bal Figure)  $419,500</em>

Less: Write Off Account         <u>$7,700    </u>

Net Income                             <u>$52,800</u>

If Allowance Method Is Used  

Sales                                                                 $480,000

Less: Expenses                                                $<em>419,500</em>

Less: Write Off Account (1.5% of 480,000)    <u>$7,200</u>

Net Income                                                       <u>$53,300 </u>

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