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PSYCHO15rus [73]
3 years ago
15

Glastonbury Inc. began operations in April of this year. It makes all sales on account, subject to the following collection patt

ern: 30% are collected in the month of sale; 60% are collected in the first month after sale; and 10% are collected in the second month after sale. If sales for April, May, and June were $66,000, $86,000, and $76,000, respectively, what were the firm's budgeted collections for April?
Business
1 answer:
Yuliya22 [10]3 years ago
6 0

Answer:

The firm's budgeted collections for April were $19,800

Explanation:

As given that firm collects 30% of the sale in the month of sale, there is no prior month's data, so the first month is April and its collections are as follow.

Collection = $66,000 x 30% = $19,800

Cash Schedule is made in a MS Excel file which is attached with this answer, Please find it.

Download xlsx
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Stock Rit Rmt ai Beta
Irina18 [472]

Answer:

1.8 option c

Explanation:

this question has a very simple solution

the following definitions

Rit = return for stock i during period t

Rmt = return for the aggregate market during period t

The abnormal rate of return for stock z is = Rit - Rmt

Rit = 9.8

Rmt = 8

9.8 - 8 =<u> 1.8</u>

<u></u>

<u>therefore the abnormal rte of return for stock z is = 1.8, which is option c</u>

6 0
3 years ago
Derek decides to buy a new car. The dealership offers him a choice of paying $600.00 per month for 5 years (with the first payme
frosja888 [35]

Answer:

PV= $31,794.12

Explanation:

Giving the following information:

Monthly payment= $600

Number of months= 5*12= 60 months

Interest rate= 0.05/12= 0.004167

<u>To calculate the present value of the monthly payments, we need to use the following formula:</u>

PV= A*{(1/i) - 1/[i*(1 + i)^n]}

A= monthly payments

PV= 600*{(1/0.004167) - 1/ [0.004167*(1.004167^60)]}

PV= $31,794.12

3 0
3 years ago
A jeans maker is designing a new line of jeans called Slims. The jeans will sell for $355 per pair and cost $262.70 per pair in
shtirl [24]

Answer:

a.$92.30

b.27.55%

Explanation:

a. Computation for the contribution margin per pair

Sales 355.00 per pair

Less:Variable cost $262.70 per pair

Contribution margin $92.30 per pair

Therefore the Contribution margin per pair will be $92.30

b. Computation for the contribution margin ratio.

Using this formula

Contribution margin ratio=Contribution margin per unit/Selling price per unit

Where,

Contribution margin per unit =$92.30

Selling price per unit =$335.00

Let plug in the formula

Contribution margin ratio=$92.30/$335.00

Contribution margin ratio =27.55%

Therefore the Contribution margin ratio will be 27.55%

4 0
3 years ago
Pug Photoshop sold $2,900 in gift cards on a special promotion on October 15, 2021, and sold $4,350 in gift cards on another spe
NikAS [45]

Answer:

the deferred revenue account is $2,900

Explanation:

The computation of the deferred revenue account is as follows;

= November sales - redemption of November and December month

= $4,350 - $435 - $1,015

= $2,900

Hence the deferred revenue account is $2,900

It could be come after applying the above formula

Therefore the correct option is 2nd

3 0
3 years ago
Ramos Company has the following unit costs: Variable manufacturing overhead$15 Direct materials 13 Direct labor 17 Fixed manufac
zhannawk [14.2K]

Answer:

Unitary cost= $56

Explanation:

Giving the following information:

Variable manufacturing overhead $15

Direct materials $13

Direct labor $17

Fixed manufacturing overhead $12

Fixed marketing and administrative $11

Under absorption costing, the fixed overhead is allocated to the product cost:

Unitary cost= direct material + direct labor + variable overhead + fixed overhead

Unitary cost= 13 + 17 + 15 + 11= $56

3 0
3 years ago
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