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adelina 88 [10]
3 years ago
6

Andy Company had a cash balance on May 1 of $ 29 000. At the end of May, the cash balance has increased to $ 30 000. During the

month of May, Andy received cash of $ 50 000 from various sources. Based on this information, cash payments for the month of May were ______.
Business
1 answer:
ad-work [718]3 years ago
3 0

Answer:

$49,000

Explanation:

The cash balance at the end of the period is the remaining balance after considering the opening cash balance and the net movement (which is the inflow and outflow) in cash during the period.

Let the cash payments be y

$29000 + $50000 - y = $30,000

y = $29000 + $50000 - $30,000

y = $49,000

Cash payments for the month of May were $49,000

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The following selected information was extracted from the 20x1 accounting records of Lone Oak Products:
joja [24]

Answer:

1. $513,000

2. $913,200

3. $926,400

4. $154,420

5.11340 Units

Explanation:

1. Calculation for Lone Oak’s manufacturing overhead for the year.

Manufacturing overhead

Indirect labor 109,000

Building depreciation (80000*75%) 60,000

Other factory cost 344,000

Manufacturing overhead $513,000

2. Calculation for Lone Oak’s cost of goods manufactured.

First step is to calculate the Direct material used

Direct material used = 15,800+175000-18200

Direct material used= 172,600

Second step is to calculate the Total manufacturing cost

Total manufacturing cost = 172,600+254,000+513,000

Total manufacturing cost= 939,600

Now let calculate the Cost of goods manufactured

Cost of goods manufactured = 35,700+939,600-62100

Cost of goods manufactured = $913,200

3. Compution for the company’s cost of goods sold.

Cost of goods sold = 111100+913,200-97900

Cost of goods sold = $926,400

4. Calculation to Determine net income for 20x1, assuming a 30% income tax rate.

Net income :

Sales 1495000

Cost of goods sold -926,400

Gross profit 568,609

Selling and administrative expense (133000+20000+195000) 348000

Profit 220,600

Tax 30% 66,180

Net income $154,420

(220,600-66,180)

(25%*80,000=20,000)

5. Calculation to Determine the number of completed units manufactured during theyear.

No of unit completed = 1190+(1,495,000/$130 per unit)-1350

No of unit completed =1190+11500-1350

No of unit completed = 11340 Units

7 0
3 years ago
A running shoe company wants to reach "avid marathon runners" instead of just "sports fans". which targeting method should this
fiasKO [112]
The correct answer:
Custom affinity audiences

Source, explanation and more answers: https://goo.gl/LkZN6c
3 0
3 years ago
The tax rates are as shown. taxable income tax rate $0 – 50,000 15% 50,001 – 75,000 25% 75,001 – 100,000 34% 100,001 – 335,000 3
Goshia [24]
To get the answer, first you have to identify at which rate is your taxable income falls. From the rage of <span>100,001 – 335,000, it have 39%. Then you will just simple multiply it.
Income x 0.39 = tax rate
the answer is </span><span>$</span>50,510.07.
3 0
3 years ago
Earth Movers, Inc., uses dynamite to prepare land for highway projects. Strict liability is imposed on this activity because:___
skad [1K]

Answer: c. The activity is abnormally dangerous

Explanation:

Strict liability is also referred to as the absolute liability, and this term means legal responsibility for injury or damages, despite the fact that the individual or business that's found strictly liable wasn't negligent or probably at fault for the injury to damages.

In this case, if Earth Movers, Inc., uses dynamite to prepare land for highway projects, a strict liability is imposed on this activity because it is abnormally dangerous.

8 0
2 years ago
Buying food to feed your family, a lawn mower to care for your lawn, or a car to drive yourself to work are purchases with what
Nata [24]

Answer:

Rational Motive

Explanation:

A rational motive is the willingness to make an action based on logical and rational criteria

4 0
2 years ago
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