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kondor19780726 [428]
3 years ago
14

The BRS Corporation makes collections on sales according to the following schedule: 30% in month of sale 60% in month following

sale 10% in second month following sale The following sales have been budgeted: Sales April $ 140,000 May $ 130,000 June $ 150,000 Budgeted cash collections in June would be:
Business
1 answer:
postnew [5]3 years ago
6 0

Answer:

$137,000

Explanation:

The computation of Budgeted cash collections in June is shown below:-

June sales collected in June = June Sales × Sale percentage

= $150,000 × 30%

= $45,000

May sales collected in June = May sales × Following month percentage

= $130,000 × 60%

= $78,000

April sales collected in June = June sales × Following second month percentage

= $140,000 × 10%

= $14,000

Total cash collections in June =June sales collected in June + May sales collected in June + April sales collected in June

= $45,000  + $78,000  + $14,000

= $137,000

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Answer: D. Both A and B are correct.

Explanation: Amortization is the reduction or paying off debt over time in a series of payments of interest and principal sufficient to repay the loan in full by its maturity date.  As an accounting technique, it is used to periodically lower the book value of a loan or intangible asset over a period of time. Amortization related to overvalued equipment increases consolidated net income and under the equity method (a method used in the valuation of a firm's investment in another when it holds significant influence over the firm being invested in), it increases the parent's reported net income.

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3 years ago
Suppose a bakery reports this​ information: beginning raw materials inventory $4,000 ending raw materials inventory 3,000 beginn
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To calculate cost of direct materials used, you take Purchases of raw materials and subtract the change in raw materials. The idea is that the cost of raw materials used will be however much raw materials decreased during the period plus the purchase of raw materials.  Beginning raw materials is 4000, and ending raw materials is 3000, a change of -1000. Purchases of raw materials were 99,000. The Cost of Direct Materials is 99,000 - (-1000) = 100,000. 
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3 years ago
A group of unrelated people are buying property together as co-owners. they'll likely either own it as tenants in common or ____
fiasKO [112]

The group of unrelated people who are buying property together as co-owners will likely either own it as tenants in common or <u>joint tenancy</u>.

<h3>What is a tenants in common?</h3>

This is when each tenant in common has the right to possess and enjoy the entire property and can go into possession of the whole unless another co-tenant objects.

<h3>What is a joint tenancy?</h3>

In the legal terms, it refers to the title property that exist when multiple individuals purchase it together with equal interest in and equal rights to the property.

Therefore, the group of unrelated people who are buying property together as co-owners will likely either own it as tenants in common or <u>joint tenancy</u>.

Read more about joint tenancy

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5 0
1 year ago
This question examines the market for mangos. You will use a demand function to construct the demand schedule, calculate the pri
raketka [301]

Answer:

Task 1. Use the table below to find the quantity of mangos demanded at each price.

For a price of $1, the quantity demanded of mangos is:

Q = 150 - 25 ($1)

Q = 125

For $2:

Q = 150 - 25 ($2)

Q = 150 - 50

Q = 100

For $3

Q = 150 - 25 ($3)

Q = 150 - 75

Q = 75

For $4

Q = 150 - 25 ($4)

Q = 150 - 100

Q = 50

For $5

Q = 150 - 25 ($5)

Q = 150 - 125

Q = 25

Task 2. Calculate the price elasticity of demand when the price falls from $5 to $4.

The formula is

Price Elasiticy of Demand (PED) = ((Q2 - Q1) / (Q2 + Q1) / 2 ) / ((P2 - P1) / ((P2 + P1) / 2)

Now, we plug the amounts into the formula

PED = ((50 - 25) / (50 + 25) / 2) / ((4 - 5) / (4 + 5) / 2)

PED = 0.1666 / -0.0556

PED = -3

We take the absolute value, 3, which is a PED higher than 1, meaning that demand is elastic: the quantity demanded in this case increased more than the price.

Task 3. When the price of a mango falls from $5 to $4, does total revenue fall or rise? How do you know?

Revenue = Price x Quantity

Under the first scenario, revenue = $5 x 25 = $125

Under the second scenario, revenue = $4 x 50 = $200

So revenue increased by $75.

Task 4. When the price of a mango falls from $3 to $2, does total revenue fall or rise?

First scenario = $3 x 75 = $225

Second scenario = $2 x 100 = 200

So revenue actually falls by $25.

4 0
2 years ago
Information for Pueblo Company follows: Product A Product B Sales Revenue $ 59,000 $ 51,000 Less: Total Variable Cost $ 11,400 $
gulaghasi [49]

Answer:

$101,639.34

Explanation:

Given the above information,

Product A Product B Total

Sales revenue $59,000 $51,000 $110,000

Contribution margin $47,600 $19,500 $67,100

Overall contribution margin ratio 61%

Fixed cost + Target profit [$42,000 + $20,000] $62,000

Break even dollars in sales = $62,000 / 61% = $101,639.34

6 0
2 years ago
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