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Rashid [163]
3 years ago
8

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

ling price per unit is $70. Budgeted unit sales for June, July, August, and September are 8,500, 16,000, 18,000, and 19,000 units What is the accounts receivable balance at the end of July?

Business
1 answer:
cupoosta [38]3 years ago
8 0

Answer:

$672,000

Explanation:

The computation of the account receivable balance at the end of July month is shown below:

Particular          June              July          August            September

Unit sales         8,500           16,000      18,000             19,000

Unit selling

price                 $70               $70           $70                 $70

Sales               $595,000     $1,120,000 $1,260,000  $1,330,000

Credit sales collection

40% in this

month sale      $238,000      $448,000  $504,000    $532,000

60% in the

following month                     $357,000   $672,000   $756,000

Total collection  $238,000    $805,000  $1,176,000   $1,288,000

For the account receivable at the end of July we considered the 60% oustanding amount i.e $672,000

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At the high and low levels of activity during the month, direct labor hours are 90,000 and 40,000, respectively. The related cos
andre [41]

Answer:

The fixed cost at any level of activity is $48,000 while the variable cost per unit at any level of activity is $1.30

Explanation:

The total cost is a function of the fixed and variable cost. Whilst the fixed cost does not change at a certain range of activities level, the variable cost changes as the level of activities(units produced or sold).

Using the high and low levels of activities given, let the variable cost per unit be v and the fixed cost F

for the high level,

F + 90,000v = 165,000

For the low level

F + 40,000v = 100,00

Solving both equations simultaneously,

50,000v = 65,000

v = $1.30

F + 40,000($1.30) = 100,000

F = 100,000 - 52,000

F = $48,000

5 0
3 years ago
Dée Trader opens a brokerage account and purchases 300 shares of Internet Dreams at $36 per share. She borrows $4,500 from her b
meriva

Answer:

A) Dee´s Margin = 58.33%; B) Remaining Margin if price drops to $26 is 30.56% C) She won´t receive a margin call (but close...)

D) Rate of Return = - 32.36%

Explanation:

Hi, first let´s find out what the initial margin is, for that we have to use the following formula.

Margin=\frac{Equity}{ValueStocks}

Now, in order to find the equity, we have to find the total value of the stocks and substract the debt from it, since it was 300 shares at $30 per share, the total value of the investment is $7,800, therefore, its equity is $3,300 ($7,800-$4,500).

So everything should look like this

Margin=\frac{6,300}{10,800} =0.5833

So the initial margin was 58.33%

If the price drops to $26 by the end of the year, the remaining margin in her account is:

Margin=\frac{3,300}{10,800} =0.3056

So the remaining margin one year later, after the stock price dropped to $26 was 30.56%

Now, in order to find the rate of return on her investment, at the end of the year, we have to remember that the money loaned was at 11%, therefore, the best way to find out the return of this investment is to convert this into money, like such.

First (Gross Return of the stock)

Gross Return=\frac{Final.P-Initial.P}{Initial.P} x100

Gross Return=\frac{26-36}{36} x100=-0.2778

Ok, we have the gross return, which is -$27.78%

The interest expenses are just as follows.

Interest Expense=4,500*0.11=-495

To find the return on the investmen, we need to use the following formula.

RateReturn=\frac{FinalInvestment-InitialInvestment}{InitialInvesment} x100

The final investment is: Gross return($)+interest Expenses

FinalInvest=\frac{300*(-10)+(-4,500*0.11)}{10,800} =-0.3236

This means that, by the end of the year, her return on the investment was -32.36%. In money, this is - $3,495.

Best of luck.

5 0
3 years ago
The 7​-year ​$1 comma 000 par bonds of Vail Inc. pay 9 percent interest. The​ market's required yield to maturity on a​ comparab
Makovka662 [10]

Answer:

a) Yield to maturity = 8.14%

b) The value of the bonds = $917.99

c) Since market value of bond is higher than book value of bond. So investor should not purchase the bond.

7 0
3 years ago
Market segments are homogeneous in two ways: prospective buyers have common needs and theya. use traditional forms of media on a
ddd [48]

Answer:

Will Respond Similarly to marketing action

Explanation:

Market segmentation is the process by which customers are grouped based on shared characteristics, so that products can effectively be tailored to meet their needs.

Market segments therefore tend to have common needs and will respond in a similar way to market action.

Market segmentation is used by businesses to identify groups that will behave in a predictable manner to promotional efforts of the company.

This ensures accurate forecast of projected sales by the company.

8 0
3 years ago
Fashion, Inc. had a Retained Earnings balance of $10,000 at December 31, 2018. The company had an average annual income of $6,00
ololo11 [35]

Answer:

Total Dividend = $20000

Explanation:

Total Income for 3 Years = 3*Average income

                                            = 3* 6000 = $18000

Opening Retained Earnings $10,000

Closing Retained Earnings $13,000

Net Utilisation for Dividend = 13000 - 10000 = $2000

Total Dividend =Total Income+Net utilisation from RE

                        =18000 + 2000 = $20000

8 0
3 years ago
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