Answer:
b. 320000
Explanation:
In order to calculate the joint cost of Gorp we need to understand what the method means and how it's used to calculate it. The adjusted sales method is used to allocate joint costs based on the prices the products are sold.
First of all we need to calculate the percentage of Selling price of Gorp to that of the total selling price of both Gorp and Gumm.
I.e: 60 ÷ (60+30) × 100
SP % of Gorp= 66.67%
Now we calculate joint cost allocated to Gorp.
Total joint cost of both Gorp and Gumm = $480000
Joint cost of Gorp = $480000 × 66.67%
Joint cost of Gorp = $320,000
Answer: Valence element
Explanation: In simple words, valence element refers to those elements which manipulates the behavior of an individual to choose one element over other due to some important factors in considerations.
In the given case, the perks offered by company does not fascinate Stella as she does find any utility in them due to absence of some elements. Hence we can conclude that she is low on valence element.
Answer: Debit to bad debt expense for $3580.
Explanation:
Based on the information given, the bad debt expense will be:
= Desired balance - Actual balance before adjustment
= $8400 - $4820
= $3580
Based on the above, the journal entry will be:
Debit Bad debt expense $3580
Credit Allowance for uncollectible $3580
