Answer:
Total cost= $984.62
Explanation:
Giving the following information:
Fixed cost= $460
Unitary variable cost= $0.34 per mile
Miles driven= 1,534
<u>First, we need to establish the total cost formula:</u>
<u></u>
Total cost= fixed cost + unitary variable cost*number of units
Total cost= 460 + 0.34*x
x= number of miles
<u>Now, the total cost for the month:</u>
Total cost= 460 + 0.34*1,543
Total cost= $984.62
Answer:
Gomez Corp. Journal entry
1. 31-Jan
Dr Allowance for doubtful accounts $800
Cr Accounts receivable - C. Green $800
2. 9-Mar
Dr Accounts receivable - C. Green $300
Cr Allowance for doubtful accounts $300
3. 9-Mar
Dr Cash $300
Cr Accounts receivable - C. Green $300
Explanation:
1. On January 1 Gomez Corp was said to use the allowance method to account for uncollectibles which means we have to record the write off as uncollectibles by Debiting Allowance for doubtful accounts with $800 and Credit Accounts receivable - C. Green with the same amount.
2. On March 9, receives a payment of $300 from Green which means we have to record the accounts receivables reinstated by
Debiting Accounts receivable - C. Green with $300 and Crediting Allowance for doubtful accounts with same amount.
3. Since it receives a payment of $300 from Green on March 9 we have to record cash receipt by Debiting Cash with $300 and Crediting Accounts receivable - C. Green with $300.
Answer:
Change in Operating Cash Flow = 13.79 %
Explanation:
given data
output level = 58,000 units
degree of operating leverage = 1.6
output rises = 63,000 units
solution
we get here percentage change in operating cash flow for that
Percentage Change in Output we get
Percentage Change in Output = ( output rises - output level ) ÷ output level .........1
Percentage Change in Output = 
Percentage Change in Output = 0.08620689655
so here Change in Operating Cash Flow will be as
Change in Operating Cash Flow = Percentage Change in Output × degree of operating leverage ............2
Change in Operating Cash Flow = 0.08620689655 × 1.6
Change in Operating Cash Flow = 13.79 %
Answer:
c. $ 3,409,000
Explanation:
Computation of cost of goods manufactured
The cost of goods manufactured is calculated by adjusting the opening and closing work in process balances to the total manufacturing input
Total manufacturing input $ 3,400,000
Add: Opening work in process $ 27,000
Less: Closing work in process <u> $ ( 18,000)</u>
Cost of goods manufactured $ 3,409,000
The cost of goods manufactured is determined by the total of the input and adding the differnce in opening and closing work in process balances.
Answer:
The correct answer is a. Debit Short-Term Investment for $160,000 and Credit Cash for the Same Amount.
Explanation:
Investments in Money Market Instruments, that is those instruments that mature within one year, are classified as Short-term Investments. Whereas, investments for a period of more than one year are termed as Long-term Investments. Since Kenall Corp. purchased bonds that will mature within one year, so such investment shall be classified under the head of Current Assets.
In-case of interest received semi-annually, Cash will be debited and Finance Income will be credited.
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