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Pavlova-9 [17]
3 years ago
9

Indigo Corporation significantly reduced its requirements for credit sales. As a result, sales during the current year increased

dramatically. It had receivables at the beginning of the year of $35,100 and ending receivables of $196,800. Credit sales were $361,800.
(a) Determine cash collections during the period.

(b) Cash collections during the period $
Business
1 answer:
zhuklara [117]3 years ago
8 0

Answer:

(a) $200,100

(b) $200,100

Explanation:

The movement in the accounts receivable balance at the start and end of an accounting period is due to cash payments, additional credit sales, and any amount written off during the period.

This may be expressed mathematically as  

opening balance + sales - cash collected - amount written off = closing balance

$35,100 + $361,800 - cash collected = $196,800

Cash collected = $35,100 + $361,800 - $196,800

= $200,100

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Overhead Variances, Four-Variance Analysis Oerstman, Inc., uses a standard costing system and develops its overhead rates from t
son4ous [18]

Answer:

Explanation:

1).

Fixed overhead rate = Budgeted fixed overhead / Budgeted direct labor hours = $585,280 / 496000 = $1.18 per hour

Standard hour per unit = 496000 / 124000 = 4 hours per unit

Standard hours for actual production = 119300 * 4 = 477200 hours

Budgeted fixed overhead = $585,280

Actual fixed overhead = $555,750

Fixed overhead applied = SH * Standard rate of fixed overhead = 477200 * $1.18 = $563,096

Fixed overhead spending variance = Budgeted fixed overhead - Actual fixed overhead

= $585,280 - $555,750 = $29,530 F

Fixed overhead volume variance = Fixed overhead applied - Budgeted fixed overhead

= $563,096  - $585,280 = $22,184 U

2).

Standard rate of variable overhead = ($813,440 - $585,280) / 496000 = $0.46 per hour

Actual rate of variable overhead = $260,700 / 494000 = $0.5277327935 per hour

Variable overhead spending variance = (SR - AR) * AH = ($0.46 - $0.5277327935) * 494000 = $33,460 U

Variable overhead efficiency variance = (SH - AH) * SR = (477200 - 494000) * $0.46 = $7,728 U

4 0
3 years ago
Imagine you live on the planet Krypton. The loanable funds market on Krypton is thriving and life is good. However, the planet i
sergij07 [2.7K]

Answer: fall; decrease

Explanation:

People save in order to be able to consume in future. If it is discovered that there will be no fixture, there would be no need to save. The supply of loanable funds would therefore decrease as people stopped saving.

Because there is reduced loanable funds, less investments would be done as these require loanable funds. With less investments being done, the economic output will decrease.

5 0
2 years ago
Money is a ______ of some item or group of items that is used as a medium of exchange.
Naily [24]

The fact that money can be used as a medium of exchange is as a result of it being a <u>stock </u>of some items.

<h3>What can money do?</h3>

Money allows for us to trade goods and services which makes it invaluable as a medium of exchange.

The reason money can do this is because it can be denoted as the stock or value of some items.

Find out more on the purposes of money at brainly.com/question/3182649.

4 0
2 years ago
Intel Corporation
statuscvo [17]

Answer:

a. Gross income = sales - COGS

Pretax = gross income - SG$A expense +operating income + non operating income- interest expense - unusual expense

income taxes = Pretax - net income

income statement    2016 2015 2014 2013 2012

sale                        59387 55355 55870 52708 53341

COGS                23425 20651 20522 21418 20507

gross earnings   35962 34704 35348 31290 32834

SG&A EXPENSE   21149 19835 19693 18729 18117

operating income   14813 14869 15655 12561 14717

non operating income  533   -51          224   595 463

interest expense   733    337     192          244 90

unusual expense   1677 269        -114     301          217

pretax                27749 29081 31456 25172 29590

income taxes         17433 17661 19752 15552 18585

Net income          10316 11420 11704 9620 11005

b. Average tax rate = total taxes / total taxable income ( for this calculation we need the tax table for identifying the correct tax brackets for each taxable income falling on it.

                                             2016            2015        2014       2013          2012

gross profit margin       0.61%          0.63%   0.63%   0.59%     0.62%

net profit margin        0.17 %         0.21%        0.21%    0.18%      0.21 %

c. is attached

d.income statement   2016 2015 2014 2013 2012

sale                             100   100   100  100           100

COGS                   39.44% 37.31% 36.73% 40.64% 38.45%

gross earnings   60.56% 62.69% 63.27% 59.36% 61.55%

SG&A EXPENSE   35.61% 35.83% 35.25% 35.53% 33.96%

operating income   24.94% 26.86% 28.02% 23.83% 27.59%

non operating expense  0.90% -0.09% 0.40% 1.13% 0.87%

interest expense   1.23% 0.61% 0.34% 0.46% 0.17%

unusual expense   2.82% 0.49% -0.20% 0.57% 0.41%

pretax                   46.73% 52.54% 56.30% 47.76% 55.47%

income taxes          29.35% 31.90% 35.35% 29.51% 34.84%

Net income        17.37% 20.63% 20.95% 18.25% 20.63%

Explanation:

gross profit margin = gross profit/ sales

net profit margin = net profit / sales

no c is an attachment

5 0
2 years ago
A ticket reseller purchases a ticket to a football game for $40 and offers it for sale at a price of $75. A consumer is willing
Burka [1]

Answer:

profit + consumer surplus.

Explanation:

The profit obtained by the reseller is given by the difference between the amount received on sale ($75) and the purchase price ($40). The consumer surplus is determined as the difference between the willingness to pay ($90) and the actual amount paid ($75). Therefore, the difference between $90 and $40 is the profit plus the consumer surplus.

7 0
3 years ago
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