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3 years ago

Morganton Company makes one product and it provided the following information to help prepare the master budget:

Business

1 answer:

yanalaym [24]3 years ago

3 0

Answer:

Budgeted sales for July = $60*29000=$1740000

Expected Cash Collection :30%*1740000=$522000

Explanation:

Budgeted Cash sales for July =$6*29000=$1740000

Expected cash collection for July =70%(60*9800)+30%(1740000)

411,600+522,000=933,600

Account receivable at the end of July =70%*1740000 = $1,218,000.

Units produced in July = 80% * 29000+20%*31000 =29400

5) (10% * 124800 )+90%(4*29400)=12480+105840=118,320

6) 118320*2.5=$295,800

7)(70%*152,160)+(30%*295,800)=106512+88740=$192,252

8) 70%*29580$207,060

9)10%*124800=12,480

10)29400*2*15=$882,000

11)(29400*2*7)+882000=1,293,600/29400=$43.98

12)(20%*31000*2*15)+ (20%*31000*7)= 186000+43,400=229,400

13)Cost of goods sold = 1,293,600

Gross Margin =1,740,000-1,293,000=$447,000

14)68000+(1.8*29000)=$120,200

15) (29000*60)-(1,293,600) - (1.8*29000)-68,000=$326,800

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I need to write a balance sheet but I am having trouble with the format. can anyone please help?

vichka [17]

Answer & Explanation:
Most balance sheets are arranged according to this equation:

Assets = Liabilities + Shareholders’ Equity

The equation above includes three broad buckets, or categories, of value which must be accounted for:

1. Assets

An asset is anything a company owns which holds some amount of quantifiable value, meaning that it could be liquidated and turned to cash. They are the goods and resources owned by the company.

Assets can be further broken down into current assets and noncurrent assets.

- Current assets are typically what a company expects to convert into cash within a year’s time, such as cash and cash equivalents, prepaid expenses, inventory, marketable securities, and accounts receivable.
- Noncurrent assets are long-term investments that a company does not expect to convert into cash in the short term, such as land, equipment, patents, trademarks, and intellectual property.

2. Liabilities

A liability is anything a company or organization owes to a debtor. This may refer to payroll expenses, rent and utility payments, debt payments, money owed to suppliers, taxes, or bonds payable.

As with assets, liabilities can be classified as either current liabilities or noncurrent liabilities.

- Current liabilities are typically those due within one year, which may include accounts payable and other accrued expenses.
- Noncurrent liabilities are typically those that a company doesn’t expect to repay within one year. They are usually long-term obligations, such as leases, bonds payable, or loans.

3. Shareholders’ Equity

Shareholders’ equity refers generally to the net worth of a company, and reflects the amount of money that would be left over if all assets were sold and liabilities paid. Shareholders’ equity belongs to the shareholders, whether they be private or public owners.

Just as assets must equal liabilities plus shareholders’ equity, shareholders’ equity can be depicted by this equation:

Shareholders’ Equity = Assets - Liabilities

— Courtesy of Harvard Business School

I hope this helped! :)

6 0

3 years ago

Which of the following is true of Peter Senge’s contributions to management thought and practices? A. He has made several signif

puteri [66]

Answer:

A. He has made several significant contributions to the areas of organizational learning and change.

Explanation:

Option B: Peter Drucker was the first person to discuss MBO, not Peter Senge. So, this option is incorrect.

Option C: It is the function of management. Therefore, Peter Senge might contribute to this one, but there is no evidence. So, it is wrong.

Option D: Peter Senge advocated the scientific methods of management, but not for the determination of efficient production.

Option E: He does not contend with the bureaucratic structure. Therefore, it is wrong, either.

Option A: It is the answer because he has made several contributions to the areas of organizational learning through the establishment of the society of organizational learning.

8 0

3 years ago

Your restaurant plans to spend $1,000 on social media ads. Your average meal sells for $10 and food cost is 30%. How many additi

Romashka [77]

Answer:

Number of meals = 100

Explanation:

The amount that the restaurant plan to spend on ads = $1000

The average selling price of meal = $10

The cost of food is = 30%

At breakeven, the total revenue is equal to total cost.

Total cost of advertsing = total revenue

So, the number of meals = $1000 / 10 = 100

5 0

3 years ago

The partnership agreement of Jones, King, and Lane provides for the annual allocation of the business's profit or loss in the fo

Pani-rosa [81]

Answer:

Mr. J = $27,000

Mr. K = $24,000

Mr. L = $39,000

Explanation:

Partnership for the year 2018 = $90,000

Profit/(Loss) to be distributed:

= Partnership for the year 2018 - Bonus to Mr. J - Interest on average capital investment

= $90,000 - [20% × $90,000] - {(15% × $100,000) + (15% × $200,000) + (15% × $300,000)}

= $90,000 - $18,000 - [$15,000 + $30,000 + $45,000]

= ($18,000) ⇒ Loss

Loss to be allocated to each partner = ($18,000) ÷ 3

= ($6,000)

Therefore, the profit of $90,000 should be assigned to each partner is as follows:

Mr. J = $18,000 + $15,000 + ($6,000)

= $27,000

Mr. K = $30,000 + ($6,000)

= $24,000

Mr. L = $45,000 + ($6,000)

= $39,000

7 0

3 years ago

If education creates external benefits, a. actual market outcomes provide less than the efficient quantity of education. b. actu

777dan777 [17]

Answer:

The correct answer is c. actual market outcomes provide a higher price than the efficient price of education.

Explanation:

In any country, there is a close positive correlation between a greater number of years of study and income, just as a higher degree of education is related to a lower incidence of poverty. In general, knowledge provides a great deal of benefits to its holders, so why might a government policy for investment in human capital be necessary? The answer could be that knowledge generates a series of “external benefits”, which are not always considered by people when making their decisions.

Economic activities generate costs and benefits, which can be private or external. In this way, whoever studies obtains a benefit for himself, for example a better salary, as explained above. That is the private benefit. But a series of external benefits are also generated, for example, the possibility of being better citizens, of improving the communication and performance of people in society, of generating new solutions to different human problems, among many others. Likewise, research and development activities lead to obtaining new knowledge. All these benefits are obtained thanks to preschool, primary, secondary, technical, university education, job training, among others.

4 0

3 years ago