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3 years ago

Down Under Products, Ltd., of Australia has budgeted sales of its popular boomerang for the next four months as follows:

Business

1 answer:

laiz [17]3 years ago

4 0

Answer:

Results are below.

Explanation:

Giving the following information:

Sales in Units

April 54,000

May 75,000

June 94,000

July 82,000

Desired ending inventory= 20% of the following month’s sales.

The inventory at the end of March was 10,800 units.

To calculate the production for each month, we need to use the following formula:

Production= sales + desired ending inventory - beginning inventory

April:

Sales= 54,000

Ending inventory= 75,000*0.2= 15,000

Beginning inventory= (10,800)

Total= 58,200 units

May:

Sales= 75,000

Ending inventory= 94,000*0.2= 18,800

Beginning inventory= (15,000)

Total= 78,800 units

June:

Sales= 94,000

Ending inventory= 82,000*0.2= 16,400

Beginning inventory= (18,800)

Total= 91,600 units

Total for the quarter= 228,600 units

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On November 1, 2019, a firm accepted a 5-month, 10 percent note for $1,080 from a customer with an overdue balance. The accrued

stiks02 [169]

Answer: $18

Explanation:

From the question, we are informed that On November 1, 2019, a firm accepted a 5-month, 10 percent note for $1,080 from a customer with an overdue balance.

The accrued interest recorded for this note for the year ended December 31, 2019 goes thus:

The value of notes receivable is $1080, then the interest for 5 months will be:

= ($1080 × 10% ×5)/100 × 12

= $54000/1200

= $45

We are further told that the interest accrued from November 1, 2019 to December 31, 2019. This means that it was for 2 months. The accrued interest will now be:

= $45 × 2/5

= $90/5

= $18

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3 years ago

In which of the following businesses is the business owner usually responsible for price setting, A. Sears B. Allstate Insurance

navik [9.2K]

D. Ma's Dry Cleaners

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3 years ago

Due to recent budget shortfalls, Muna is being forced to lay off 50 employees at her firm. She plans to offer a severance packag

kicyunya [14]

Answer:

She should have the laid off employees sign a non-disparagement agreement

Explanation:

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3 years ago

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Six months ago, the price of gasoline was $2.20 per gallon. Now, the price is $2.40 per gallon. In response to this price i

k0ka [10]

Answer:

4.545

Explanation:

Given:

Six months ago, the price of gasoline was $2.20 per gallon.

Now, the price is $2.40 per gallon.

In response to this price increase, the number of gallons of gasoline purchased has declined by 2 percent.

Question asked:

Based on this information, what is the absolute price elasticity of demand for gasoline?

Solution:

As we know:

Price elasticity of demand = $\frac{\% change\ in\ quantity\ demanded}{\% change\ in\ price}$

$\% change\ in\ quantity\ demanded =$ $\frac{new\ value-old \ value}{old\ value} \times100\\$

$=\frac{2.40-2.20}{2.20} \times100\\\\ =\frac{0.2}{2.20} \times100\\ \\ =\frac{20}{2.20} \\ \\ =9.09$

$\% change\ in\ price=2$ ( given)

Price elasticity of demand = $\frac{\% change\ in\ quantity\ demanded}{\% change\ in\ price}$

$=\frac{9.09}{2} \\ \\ =4.545$

Thus, the absolute price elasticity of demand for gasoline is 4.545

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3 years ago

Tinsel Co.’s balances in allowance for credit losses were $70,000 at the beginning of the current year and $55,000 at year end.

nevsk [136]

Answer:

$50,000

Explanation:

Since Tinsel Co.’s balances in allowance for credit losses were $70,000 at the beginning of the current year and $55,000 at year end.

If during the year, receivables of $35,000 were written off as uncollectible, the amount that Tinsel should report as credit loss expense at year end is $50,000 and this is derived by

Opening balance .................................... 70,000

Add: Receivables written off .............. .35,000

less: Closing balance .............................(55,000)

= Amount of credit loss for the year - 50,000

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3 years ago

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