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Alina [70]
3 years ago
13

Q 8.2: On June 15th, Buehler Company sells merchandise on account to Chaz Co. for $1,000, terms 2/10, n/30. On June 20th, Chaz C

o. returns merchandise worth $300 to Buehler Company. On June 24th, payment is received from Chaz Co. for the balance due. What is the amount of cash received?
Business
1 answer:
densk [106]3 years ago
5 0

Answer:

The amount received in cash is $686

Explanation:

The amount which is received in cash is computed as:

On June 20, the amount of $300 goods returns from customer, so the remaining balance is

= $1,000 - $300

= $700

On the remaining balance, the discount which is evaluated as the payment is received within the discount period which is June 24. So,

= $700 x  (100% - 2%)

= $ 700 x  98%

= $ 686

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The additional dining space will occupy space next to Olaf’s that was recently rented to a tenant. By claiming the space for the
Illusion [34]

Answer:

$12,146

Explanation:

The computation of present value of this opportunity cost is shown below:-

Net After tax Operating Profit Per month = Rent space per month × Profit margin on the renting the space percentage

= $1,000 × 30%

= $300

Project is for 4 Years

Total months = 4 × 12

= 48 Months

Interest Rate Per month = 9% ÷ 12

= 0.75%

As per the question the Rent is Received at the start of the month

So Present Value of this opportunity cost = $300 (1 + PVAF (0.75%,47))

= $300 × ( 1 + 39.486)

= $12,145.85

= $12,146

3 0
3 years ago
Wisteria Co. produces snowboards and uses a standard cost system. Variable overhead is applied using direct labor hours. Standar
Ket [755]

Answer:

Variable overhead rate variance = $2,870 favorable

Explanation:

Variable overhead rate variance is the difference between the standard cost allowed for variable production overhead and the actual variable cost incurred.

This computed as follows:

                                                                                    $

17,130 hours should have cost ( 17,130 ×7.20)      123336

but did cost                                                            <u>120,466</u>

Variable overhead rate variance                           <u>  2870 </u> Favorable

Variable overhead rate variance = $2,870              

6 0
3 years ago
Barbara Smith is an employee of Allied Manufacturing Company. She has an 8-hr workday and each day is paid $0.60 for each unit p
MariettaO [177]

Answer:

$309

Explanation:

The computation of the gross earning for the week is as follows:

Given that

Payment of $7.15 × 8 = $57.2  or payment of  each unit produced whichever is greater

On monday

= 90 units × $0.60

=  $54

But the greater is $57.2

On tuesday

= 114 units × $0.60

=  $68.4

On Wednesday

= 82 units × $0.60

= $49.20

But the greater is $57.2

On thursday

= 112 units × $0.60

= $67.20

On friday

= 98 units × $0.60

= $58.80

Now the earnings for the last week is

= $57.20 + $68.4 + $57.20 + $67.20 + $58.80

= $308.80

= $309

8 0
2 years ago
Sharon is purchasing a food processor and has done extensive research on all the models available in the market. she is convince
Scrat [10]
Sharon is in the "purchase decision and purchase act" <span>stage of consumer decision process.

</span><span>The buying decision process is the basic leadership process utilized by buyers with respect to advertise exchanges previously, during, and after the buy of a good or administration. It can be viewed as a specific type of a cost– advantage examination within the sight of various options.The five stages of this process includes:

Problem Identification
Information Search
Evaluation of Alternatives
Purchase Decision
Post-purchase Decisions</span>
8 0
3 years ago
Francis works for a local fly-fishing shop. The shop allows employees to purchase two fly rods per year at a discount. This year
RUDIKE [14]

The amount of discount that has to be included in Francis's income is 0.

<h3>How to solve for the discount amount</h3>

The amount of the discount - sales price

= 300 - 250

= $50

This is the discount when it is sold to employees

Next we solve for the gross profit as

sales price x gross profit rate

= 300 x 30%

= 90

Given the amounts that we have here we have to conclude that the amount to be included in the account is 0

Read more on what a discount is here:

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6 0
2 years ago
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