Answer:
The estimated bad debt expense for the year amounts to $9,400
Explanation:
The estimated bad debt expense for the year is computed as:
As the percentage of credit sales method is used for estimating the bad debt expense. Therefore, it is computed as:
Bad debt expense = Net Credit Sales × Estimate Percent
where
Net credit sales amounts to $188,000
Estimate percent is 5%
So, putting the values above:
Bad debt expense = $188,000 × 5%
Bad debt expense = $9,400
Therefore, the bad debt expense amounts to $9,400
Answer:
B). $12
Explanation:
As per the given data, the AFC(Average Fixed Cost) for employing 25 factors of labor and 16 factors of capital would be $12.
We are given the production function,
Q = 
where,
K = allotted input in short-term
Rental rate of each unit/factor(r) = $15
Wage per factor(w) = $5
As we know, the two inputs are labor, as well as, capital;
To find AFC, we need TC;
so,
TC = (Fixed cost + Variable cost)
TC = (240(15 * 16) + 125(25 * 5) = 365
Thus,
AFC = $ 12
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Answer:
$35,860
Explanation:
The computation of the ending inventory using the retail inventory method is shown below
Particulars Cost Retail
Opening Inventory(A) $63,800 $128,400
Purchases(B) $115,060 $196,800
Goods available
C=(A-B) $178,860 $325,200
Cost ratio
($178,860 ÷ $325,200 × 100) 55%
Sales at retail (D) $260,000
End, Inventory at Retail $65,200
($325,200 - $260,000)
End, Inventory at Cost $35,860
($65,200 × 55%)
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