Answer:
The Journal entries are as follows:
(a)
Bad Debt Expense A/c Dr. $440
To Allowance for Doubtful Accounts $440
(To record the bad debts)
Workings:
Bad Debt Expense = 1% of Total revenue
= 0.01 × $44,000
= $440
(b)
Bad Debt Expense A/c Dr. $439.34
To Allowance for Doubtful Accounts $439.34
(To record the bad debts)
Workings:
Bad Debt Expense = 2% of accounts receivable
= 0.02 × $21,967
= $439.34
Answer:
0.54
Explanation:
Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.
Price elasticity of demand = midpoint change in quantity demanded / midpoint change in price
Midpoint change in quantity demanded = change in quantity demanded / average of both demands
change in quantity demanded = 100 - 95 = 5
average of both demands = (100 + 95) / 2 = 97.5
Midpoint change in quantity demanded = 5 / 97.5 = 0.051282
midpoint change in price = change in price / average of both price
change in price = $11 - $10 = 1
average of both price = ($11 + $10) / 2 = 10.5
midpoint change in price = 1 / 10.5 = 0.095238
Price elasticity of demand = 0.051282 / 0.095238 = 0.54
Answer:
7,780 units
Explanation:
When using the weighted-average method in its process costing system we are only interested in the equivalent units of the output in that particular process. Outputs being Units completed and transferred and units in ending work in process.
Units in Ending Work in Progress calculation
Units in Ending Work in Progress = 1,300 units + 8,300 units - 6,800 units
= 2,800 units
Conversion Costs
Units completed and transferred (6,800 x 100%) 6,800
Units in Ending Work in Progress (2,800 x 35 %) 980
Equivalent units of Production - Conversion Costs 7,780
Conclusion
the equivalent units for conversion costs for the month in the first processing department are 7,780 units
Answer:
total cost of farming = $380
so correct option is d. $380
Explanation:
given data
cost of seeds = $130
Farmer Ziva charges = $25
time = 10 hours
solution
so total cost of farming is calculated as
total cost of farming = cost of seeds + opportunity cost
so put value
total cost of farming = $130 + ( $25 × 10 )
total cost of farming = 130 + ( 250 )
total cost of farming = $380
so correct option is d. $380
