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Alla [95]
3 years ago
11

32. On December 31, 2016, Wellstone Company reported net income of $70,000 and sales of $210,000. The company also reported begi

nning and ending accounts receivable at $20,000 and $25,000, respectively. Wellstone will report cash collected from customers in its 2016 statement of cash flows (direct method) in the amount of: a.$215,000.
Business
1 answer:
Rom4ik [11]3 years ago
7 0

Answer:

$205,000

Explanation:

Sales = $210,000

Opening accounts receivables = $20,000

Ending accounts receivables = $25,000

Using the formula

Opening accounts receivables + Sales -  Cash collected = closing accounts receivables

$20,000 + $210,000 - Cash collected = $25,000

Cash collected = $20,000 + $210,000 -  $25,000

                         = $205,000

The cash collected from sales reduces the balance in the accounts receivables.

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Departmental overhead rates LO P2 Textra Plastics produces parts for a variety of small machine manufacturers. Most products go
Shalnov [3]

Answer:

Explanation:

Textra Plastics

All Amounts in $

1. Departmental Overhead Rate

Modelling Department

Overhead Costs 730000

Machine Hours worked 30500 MH

Overhead Rate/Machine Hour 23.93 per machine hour

Trimming Department

Overhead Costs 590000

Direct Labor Hours 48000 DLH

Overhead Rate/Machine Hour 12.29 per direct labor hour

2. Total Overhead Cost assigned to each product line

Part A27C Activity Departmental For Total Overhead

Driver OH Rate each Cost

Molding Machine Hours 23.93 Machine Hour 122065.57 = 5,100 MH X 23.93

Trimming Direct Labor Hours 12.29 Direct Labor Hour 8604.17 = 700 DLH X 12.29

Total Overheads 130669.74 For 9,800 units

Overhead per unit 13.33

Part X82B Activity Departmental For Total Overhead

Driver OH Rate each Cost

Molding Machine Hours 23.93 Machine Hour 24413.11 = 1,020 MH X 23.93

Trimming Direct Labor Hours 12.29 Direct Labor Hour 43020.83 = 3,500 DLH X 12.29

Total Overheads 67433.95 For 54,500 units

Overhead per unit

3 0
3 years ago
Read 2 more answers
Suppose from the first step of candy bar manufacture (formation of nougat) to the final step (packaging) each candy bar spends e
noname [10]

Answer:

25,000

Explanation:

Given that,

Time taken from first step to final step, cycle time = 1.25 hours

Demand for candy bars = 20,000

Throughput time = 20,000 candy bars per hour

Candies in process is work in progress:

= cycle time × Throughput time

= 1.25 hours × 20,000 candy bars per hour

= 25,000

Therefore,

25,000 candy bars are in process, on average.

4 0
3 years ago
In case of an emergency, once you or someone already on the scene has contacted 9-1-1, the next thing to do is: A) Move them to
Lostsunrise [7]
D check for a heartbeat
4 0
3 years ago
While it sounds reasonable that companies should focus on making the products it knows how to make really well, one downside of
borishaifa [10]

Answer:

Customer may not want the product which the company is making well.

Explanation:

It is not necessary that market needs those products which the company is producing perfectly. It cannot enter into product differentiation and cannot meet customer demands and needs of specific or altered products. The company can achieve specialization and can be a niche player in the market but also on the other hand company’s business is limited to only few products at which it is perfect. It cannot allow customization to its products.

6 0
3 years ago
.Grannis Corporation purchased land in order to construct a new factory . Expenditures incurred by the company were as follows:
katovenus [111]

Answer:

The amount recorded in the Land account is $61,200    

Explanation:

The cost of acquisition/purchase of a landed asset includes all the normal, reasonable and necessary costs incurred in obtaining the land and getting it ready for use. These cost includes the price of the land, the legal fees, title fees, taxes, excavation costs etc. On the other hand, cost of improvements on the land are recorded on improvement on asset accounts, where depreciation is put in consideration when computing cost. This is separate from acquisition cost because, there is no depreciation on a land. The cost is calculated as follows:

purchase price = $ 45,000

broker's fees    = $   8,000

accrued taxes  = $    2,000

demolition        = $    2,700

grading             = $    1,500

excavation       =  $    2,000

Total                 =  $ 61,200

6 0
3 years ago
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