Answer:
Purchases= 88,400 units
Explanation:
Giving the following information:
To manufacture a box, it takes 44 units of wood
The scheduled production of boxes for the next two months is 2,100.
Beginning inventory is 16,000 units of wood
<u>The ending inventory of wood is planned to decrease 4,000 units each of the next two months.</u>
T<u>o calculate the purchase of wood required, we need to use the following formula:</u>
Purchases= production + desired ending inventory - beginning inventory
Purchases= 44*2,100 + (16,000 - 4,000) - 16,000
Purchases= 88,400 units
Answer:
B. Partial performance.
Explanation:
Partial performance is the place one party finishes performance under an oral contract – may make the oral contract enforceable, regardless of the Statute of Frauds. A party must exhibit his performance was exclusively inferable from the oral contract.
Answer:
The dollar amount that should be credited to Allowance for Uncollectible Accounts at year end is $ 12,100
Explanation:
Providing allowance for doubtful debts
A provision is made for the debts which are likely to be uncollectable by a company.This amount is used to adjast the Trade Receivable balances to show a faithful representation of assets a beusiness has at end of year.
Calculations
<em>December 31, 2018 Arundel Company`s Allowance for Doubtful debts is calculated as follows</em>
Credit Sales × % of allowed provision
$805,000 × 2.0%
$16,100
<em>Adjastment to be done in Allowance for Doubtful Debts Account:</em>
<em>Hint : Open Allowance for Doubtful Debts T Account:</em>
<u>Credits :</u>
Opening Balances 4,000
Balancing Figure (Profit and Loss) 12,100
Totals 16,100
<u>Debit:</u>
Closing Balance 16,100
Totals 16,100
Answer:
Raising the minimum wage paid to workers
Explanation:
Standard of living, is based on two concepts
- the resources you hold to exchange
- the resources society holds in exchange of your resources.
When the wages of workers are increased then, the resources with labors increases,
but that will not increase the resources as offered by the society, and as the main action for increasing the standard of living, the resources in the form of technology, training, etc: shall be increased.
The money you get when you get paid