Answer:
With 16 Grade X and 54 Grade Y the company maximize their profit at 11,840 dollars
Explanation:
We set up the scenario in Excel and use SOLVER tool:
X = 50 synthetic + 25 labor + 20 foam
Y = 40 synthetic + 28 labor + 15 foam
Profit:
X = 200
Y = 160
Constraing:
synthetics <= 3,000
foam <= 1,500
Grade X and Grade Y are integer.
goal: maximize profit
16 of Grade X
and 54 of grade Y
16 x 50 = 800
16 x 30 = 540
54 x 40 = 2,160
54 x 15 = 810
Profit:
16 x 200 + 54 x 160 = 11840
To determine the quantity of strawberries would be demanded for Fruitland with the $0.50 Berryland tariff on imports we would need to know how much money they are willing to spend on tariffs. A tariff is a tax placed on imports and exports between different countries for help regulate trade.
Answer:
1. Account receivable.
2. Other receivables.
4. Notes receivable.
5. Maturity date.
Explanation:
1. Account receivable: the right to receive cash in the future from customers for goods sold or for services performed. Accounts receivable can be defined as an account which gives information about legally enforceable monetary claims that are to be recovered by a company from a customer who is yet to make payment.
2. Other receivables: a miscellaneous category that includes any other type of receivable where there is a right to receive cash in the future.
3. Debtor: the party who receives a receivable and will collect cash in the future.
4. Notes receivable: a written promise to pay a specified amount of money at a particular future date.
5. Maturity date: it is the date when the note receivable is due.
Answer:
the acid-test ratio is 0.75 times
Explanation:
The computation of the acid-test ratio is shown below:
We know that
Acid-test ratio is
= Quick assets ÷ current liabilities
= $6,123,000 ÷ $8,144,000
= 0.75 times
Hence, the acid-test ratio is 0.75 times
basically we divided the quick assets from the current liabilities so that the acid-test ratio could come
Answer: Debit Warranty Expense $25,500; credit Estimated Warranty Liability $25,500.
Explanation:
From the question, we are informed that during June, Vixen Company sells $850,000 in merchandise that has a one year warranty and that experience shows that warranty expenses average about 3% of the selling price and that customers returned $14,000 of merchandise for warranty replacement during the month.
The entry to settle the customer warranties is to debit Warranty Expense $25,500 and then credit Estimated Warranty Liability $25,500.
The warranty expense is calculated as:
= 3% × $850,000
= 0.03 × $850,000
= $25,500