Answer:
Black report as its Allowance for Doubtful Accounts at 12/31/20 of $25,200
Explanation:
The computation of the allowance for the doubtful account is shown below:
= Ending account receivable balance × estimated percentage
= $504,000 × 5%
= $25,200
To find out the allowance for a doubtful account we simply calculate the estimated amount based on the ending balance of the accounts receivable and the given percentage.
All other values are not relevant. Hence, ignored it
Answer:
Finished goods = $85,800
Ending inventory = $5,280
Explanation:
beginning WIP 400 units
$11,080
8000 units started
$80,000
units finished and transferred out = 8,000 + 400 - 600 = 7,800
ending inventory 600 units
80% complete
equivalent units = 7,800 + (600 x 80%) = 8,280
total costs = $91,080
cost per equivalent unit = $91,080 / 8,280 = $11
Finished goods = 7,800 x $11 = $85,800
Ending inventory = 480 x $11 = $5,280
Answer:
368 units
Explanation:
The Break-even point is calculated by dividing fixed cost by the contribution margin per unit.
Fixed cost = £140
Contribution margin per unit = Selling price per unit - variable cost per unit
Selling price = £0.63 : Variable cost : £0.25
Contribution margin per units =£0.63 - £0.25
=£0.38
Break-even point = £140 / £0.38
=368.42
=368 units
Answer:
The answer is: D
Explanation:
Financial reports are prepared to provide useful information to the business' capital providers, that is, the investors and creditors. These two groups of stakeholders are responsible for providing financial resources which enable companies to start, continue or expand their operations. These reports, which contain accounting information, are generated by management and evaluated against reporting standards to meet the regulatory requirements set by regulators.
