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3 years ago

Presented below is information for Headland Company.

Business

1 answer:

OlgaM077 [116]3 years ago

5 0

Answer and Explanation:

The computation is shown below:

For account receivable turnover ratio

Accounts Receivable Turnover is

= Sales ÷ Average Receivables

Beginning Accounts Receivable $21,400

Add: Sales $105,300

Less: Cash Receipts $81,300

Ending Accounts Receivable $45,400

Now

Accounts Receivable Turnover is

= $105,300 ÷ ($21,400 + $45,400) ÷ 2

= 3.15 times

Now days to sell is

= 365 ÷ 3.15 times

=116 days

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You are earning $40,000 per year as a branch manager at Dunkin Donuts. You are planning on leaving your job and going back to co

sergij07 [2.7K]

Answer:

It increases the opportunity cost because you are foregoing more money for college.

Explanation:

Opportunity cost is the benefit profit, or value of something that is missed or given up when an individual chooses one alternative over another.

The 10% rise in salary offered by the branch manager increases the opportunity cost of going to college. This is because the higher cost (money) you could have earned by not going to college is foregone.

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3 years ago

For most normal goods the income effect and the substitution effect work in the same direction; so when the price of a good fall

bezimeni [28]

Answer:

The income effect and substitution effect work in opposite directions and income effect is dominant.

Explanation:

In case of a normal good, both the income effect as well as substitution effect work in the same direction. A fall in the price of a product will increase the purchasing power of the consumer so its quantity demanded will increase.

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2 years ago

If price increases from $45 to $55, the market quantity supplied increases from 20 units per week to 30 units per week. The pric

hichkok12 [17]

Answer:

The answer is 2.25

Explanation:

Price Elasticity of Supply (PES)= percentage change in Quantity demanded/ percentage change in price

PES= (30-20)/20 *100) /( 55-45)/45*100) = 50%/22.22% = 2.25

4 0

2 years ago

Grand Lips produces a lip balm used for cold-weather sports. The balm is manufactured in a single processing department. No lip

77julia77 [94]

Answer:

a. see attachment

total equivalent units : Materials = 30,500 units and Conversion Costs = 16,860

cost per equivalent unit : Materials = $0.14 and Conversion Costs = $0.30

(a) units completed and transferred to Finished Goods = $6,732

(b) units still in process at June 30 = $1,196

Journals

Work In Process :Direct Materials $4,305 (debit)

Raw Materials $4,305 (credit)

Being Raw Materials used in Production

Work In Process :Direct Labor $3,320 (debit)

Salaries Payable $3,320 (credit)

Being Labor used in Production

Work In Process ; Overheads $1,738 (debit)

Overheads $1,738 (credit)

Being Overheads Assigned to Production

Finished Goods $6,732 (debit)

Work In Process $6,732 (credit)

Being Units transferred to Finished Goods

Explanation:

Calculation of Equivalent units of Production in respect with Raw Materials and Conversion Costs

1. Materials

Ending Work In Process (5,200 × 100%) 5,200

Completed and Transferred Out (15,300 × 100%) 15,300

Equivalent units of Production in respect with Raw Materials 30,500

2. Conversion Costs

Ending Work In Process (5,200 × 30%) 1,560

Completed and Transferred Out (15,300 × 100%) 15,300

Equivalent units of Production in respect with Conversion Cost 16,860

Calculation of Cost per Equivalent unit of production in respect with Raw Materials and Conversion Costs

Unit Cost = Total Cost ÷ Total Equivalent units

1. Materials

Unit Cost = $4,305 ÷ 30,500

= $0.14

2. Conversion Costs

Unit Cost = ($3,320 + $1,738) ÷ 16,860

= $0.30

3. Total unit cost

Total unit cost = Material Cost + Conversion Cost

= $0.14 + $0.30

= $0.44

Calculation of costs assigned to (a) units completed and transferred to Finished Goods and (b) units still in process at June 30.

(a) units completed and transferred to Finished Goods

Total Cost = units completed and transferred out × total unit cost

= 15,300 × $0.44

= $6,732

(b) units still in process at June 30.

Total Cost = Materials Cost + Conversion Cost

= $0.14 × 5,200 + $0.30 × 1,560

= $1,196

8 0

3 years ago

Suppose a small business has sales of $15,000 this month, with future sales expected to grow by $1,600 each month. Costs consist

liraira [26]

Answer:

$8,220

Explanation:

According to the scenario, computation of the given data are as follow:-

This month Sales = $15,000

Growth expect in future sales per month = $1,600

Next Month Sales = Current Month Sales + Growth Expect In Future Sales Per Month

Variable Cost = Total Sale of Current Month × 40%

Gross Profit = Sales - Fixed Cost - Variable Cost

Per Month Gross Profit

Particular Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7

Sales ($) 16,600 18,200 19,800 21,400 23,000 24,600 26,200

Less - Fixed cost($) 7,500 7,500 7,500 7,500 7,500 7,500 7,500

Less-Variable cost ($) 6,640 7,280 7,920 8,560 9,200 9,840 10,480

Gross profit ($) 2,460 3,420 4,380 5,340 6,300 7,260 8,220

Gross profit in a single 7 month from now = $8,220

7 0

3 years ago