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xxTIMURxx [149]
3 years ago
9

Read the following except from a warranty. What time period is this warranty for? "This warranty is given by XYZ motors. The Zoo

m car is guaranteed to be free of defects for 30,000 miles or three years, whichever is reached first." 30,000 miles or three years ten years one year 30,000 miles.
Business
1 answer:
ArbitrLikvidat [17]3 years ago
7 0

Answer:

The warranty period is for three years.

Explanation:

A warranty is a promise a buyer receives from the seller that the latter will repair or replace the product should it develop defects within a stated period. Warranties are granted with specific conditions. The universal condition is that the defects in the product are a result of the manufacturing process and not the buyers' misuse. The defect must occur within a stated period.

In the case of XYZ, the stated period is three years. However, the seller has introduced another condition of "or 30,000 miles whichever comes first." For business reasons, and from market experience, the seller expects that XYZ will use the vehicle at an average rate of 10,000 miles per year. At this rate, the warranty will last for three years. Should the buyer use the vehicle at a faster rate than this, the 30,000 miles will be exhausted earlier, which will bring the warranty to an end. If XYZ uses the vehicle at a slower or the expected rate, the warranty will last for three years.

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Crandle Corp. applies manufacturing overhead costs to products at a budgeted indirectminuscost rate of $ 100 per direct manufact
katen-ka-za [31]

Answer:

total product costs  =   $101750

Explanation:

given data

overhead costs = $ 100

Direct materials of $41,000

direct manufacturing labor  = 450

per​ hour = $35

markup rate = 30 %

solution

we get here total product costs  that is express as

total product costs  = Direct materials + DML + MOH ..........1

total product costs  = $41,000 + ( 450 × $35 ) + ( 450  × $100 )

total product costs  =  $41,000 + $15750 + $45000

total product costs  =   $101750

4 0
3 years ago
Which of the following describes the goal that should be pursued when setting transfer prices? Minimize opportunity costs. Maxim
nata0808 [166]

Answer:

Establish incentives for autonomous division managers to make decisions that are in the overall organization's best interests (i.e., goal congruence).

4 0
3 years ago
Read 2 more answers
A company has net income of $187,000, a profit margin of 8.6 percent, and an accounts receivable balance of $126,370. Assuming 6
NARA [144]

Answer:

35.35  days

Explanation:

For the computation of company’s days’ sales in receivable first we do the following calculations

As we know that

Profit margin = Net income ÷ Sales

0.086 = 187,000 ÷ Sales

Sales = 2,174,418.605

So,

Credit sales = Sales × Sales percentage

= 2,174,418.605 × 0.6

= 1,304,651.163

Receivables turnover ratio = Credit sales ÷ Receivables

= 1,304,651.163 ÷ 126,370

= 10.3241

Now

Days sales in receivables = 365 ÷ Receivables turnover

= 365 ÷ 10.3241

= 35.35 days

4 0
3 years ago
The Waverly Company has budgeted sales for the year as follows: The ending inventory of finished goods for each quarter should e
MA_775_DIABLO [31]

The question is incomplete. The complete question is as follows,

The Waverly Company has budgeted sales for the year as follows:

Quarter sales in unit

1=12,000

2=14,000

3=18,000

4=16,000

The ending inventory of finished goods for each quarter should equal 25% of the next quarter's budgeted sales in units. The finished goods inventory at the start of the year is 3,000 units. Scheduled production for the second quarter (in units) is:

a.17,500 units.

b.16,500 units.

c.15,000 units.

d.13,000 units.

Answer:

Production = 15000 Units

Option C is the correct answer

Explanation:

To calculate the scheduled production for the second quarter, we first need to find the opening and ending inventory for the third quarter. The ending inventory for each quarter will become the opening inventory for next quarter. It is mentioned in the question that the ending inventory in each quarter is equal to 25% of the next quarter's budgeted sales. Then,

Ending Inventory First Quarter = 0.25 * 14000  =  3500 units

Ending Inventory Second Quarter = 0.25 * 18000  =  4500 units

The production of units in second quarter can be calculated as follows,

Budgeted Sales  =  Opening Inventory + Production - Closing Inventory

14000 = 3500 + Production - 4500

14000 + 4500 - 3500 = Production

Production = 15000 Units

5 0
3 years ago
A post-closing trial balance is prepared a. after closing entries have been journalized and posted. b. before closing entries ha
adelina 88 [10]

Answer:

A.

Explanation:

The accounting cycle is the name given to the collective process of recording and processing the accounting events of a company. The series of steps begin when a transaction occurs and end with its inclusion in the financial statements.

Upon the posting of adjusting entries, a company prepares an adjusted trail balance followed by the financial statements. An entity closes temporary accounts (revenues and expenses) at the end of the period using closing entries. These closing entries transfer net income into retained earnings. Finally, a company prepares the post-closing trial balance to ensure debits and credits match.

Steps:

-Journal

-Ledger

-Trail Balance

-Adjustment Entries

-Trading Account

-Profit or loss account

-Final accounts

-Post closing Trail Balance

4 0
3 years ago
Read 2 more answers
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