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olga55 [171]
2 years ago
12

The LaGrange Corporation had the following budgeted sales for the first half of the current year:

Business
1 answer:
Liono4ka [1.6K]2 years ago
8 0

Answer:

The total cash collected during January by LaGrange Corporation would be: $192,000

Explanation:

Total Credit Sales in December of the current year = $63,000/45% = $140,000

The total cash collected during January = Cash sales of January + 55% x Credit sales of January + 40% x Credit sales of December + uncollected November sales

The LaGrange Corporation has Cash sales of January of $40,000 and Credit sales of January of $140,000, uncollected November sales of $19,000

The total cash collected during January = $40,000 + 55% x $140,000 + 40% x $140,000 + $19,000 = $192,000

You might be interested in
Willey Company makes three products in its factory: plastic cups, plastic tablecloths, and plastic bottles. The expected overhea
blsea [12.9K]

Answer:

Cups = $45,000

Tablecloths = $1,12,500

Bottles = $1,42,500

Explanation:

Given that,

Factory manager’s salary = $210,000

Factory utility cost = 70,000

Factory supplies = 20,000

Overhead allocation rate :

= Budgeted Overhead ÷ Budgeted Base of allocation

= Total overhead costs ÷ Total machine hours

= $300,000 ÷ 2,000

= $150 per machine hour

Cups:

Allocated cost = Allocation rate × Weight of base

                        = $150 × 300

                        = $45,000

Tablecloths:

Allocated cost = Allocation rate × Weight of base

                        = $150 × 750

                        = $1,12,500

Bottles:

Allocated cost = Allocation rate × Weight of base

                        = $150 × 950

                        = $1,42,500

4 0
3 years ago
A large computer software firm promised a client that it could deliver a new operating system on a tight deadline and put Keith
nikklg [1K]

Answer:

d) He has a deep understanding of website design, can quickly identify and fix errors, and can break down large projects into small pieces.

Explanation:

For a large computer software company on a tight deadline who puts Keith in charge of the project, the best explanation as to why Keith is qualified for the job is that he has a deep understanding of website design, can quickly identify and fix errors, and can break down large projects into small pieces.

This skill is necessary to complete a job such s this successfully and on time without extra delays

3 0
2 years ago
Read 2 more answers
Lasting Summer Inc. has $2,290 in the October 1 balance of the accounts receivable account consisting of $1,050 from Champion Co
kolbaska11 [484]

Answer:

<h2>Lasting Summer Inc.</h2>

a1) Revenue Journal

Date     Description            Invoice Ref        Amount

Oct. 3   Palace Corp.              622               $2,890

Oct. 8   Sunny Style Inc.         623                  1,940

Oct. 18  Amex Services Inc.   624                 2,970

Oct. 28 Wayfarer Co.             625                   900

Oct. 31  Accounts Receivable                     $8,700

a2) Cash Receipts Journal

Date     Description            Ref        Amount

Oct. 5   Champion Co.                     $1,060

Oct. 12  Wayfarer Co.                         1,450

Oct. 23 Palace Corp.         622         2,890

Oct. 30 Rogers Co.                               120

Oct. 31  Accounts Receivable        $5,400

Oct. 31  Cash Account                       $120

b1) Listing of the Account Receivable Customer Balances:

Champion Co.      -$10

Wayfarer Co.        690

Sunny Style Inc.  1940

Amex Services  2,970

Total                $5,590

b2) Verification of agreement with Accounts Receivable Control Account:

The total of accounts receivable listing and the Accounts Receivable Control Account agree.

c) Use of a Subsidiary Ledger for Accounts Receivable:

Subsidiary Ledger for the Accounts Receivable is kept in order to record the individual customers' accounts and their business transactions with the entity.  The general ledger account for the same is a total account that summarizes the individual accounts and acts as a control measure to ensure accuracy.

Explanation:

a) Account Balances:

1. Accounts Receivable

Beginning balance $2,290

Revenue Journal      8,700

Cash Journal           -5,400

Ending balance      $5,590

2. Champion Co.

Beginning balance  $1,050

Oct. 5 Cash              -1,060

Ending balance       $10 CR

3. Wayfarer Co.

Beginning balance  $1,240

Oct. 28 Inv.625           900

Oct. 14 Cash            -1,450

Ending balance       $690

4. Palace Corp.              

Oct. 3 Revenue Inv. 622   $2,890

Oct. 23 Cash         622        2,890

5. Sunny Style Inc.

Oct. 8   Revenue  Inv.623    1,940

6. Amex Services Inc.

Oct. 18  Revenue  Inv.624  2,970

b) A subsidiary ledger is a group of similar accounts whose combined balances equal the balance in a specific general ledger account.  In the general ledger, there is an account that summarizes a subsidiary ledger account balances.  It is called a control account or master account.

7 0
3 years ago
A bakery owner decides to offer only wedding cakes and special event cakes because other bakeries in the area offer so many prod
Sedaia [141]

Answer:

Differentiated Strategy

Explanation:

The reason is that the Bakery owner will now selll wedding cakes which means the bakery owner will sell extra ordinary cake which it desires to target a specific customer segment (wedding couples). The price charged on such cakes will be higher than an ordinary cake because of the extra ordinary cake specialty. The company that targets a specific customer segment due to its unique product also charges higher because its product is different from the rest of the products of the competitors. A well known saying is "Quality has costs", this means the bakery would charge higher to wedding couples because they are offering better quality product due to their experience and specialization.

8 0
3 years ago
The twentieth century saw an accelerating shift from traditional manufacturing activities to production procedures requiring lar
aniked [119]

Answer:

true

Explanation:

3 0
3 years ago
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