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Murrr4er [49]
2 years ago
15

Kaspar Industries expects credit sales for January, February, and March to be $202,100, $264,200, and $319,300, respectively. It

is expected that 75% of the sales will be collected in the month of sale, and 25% will be collected in the following month.Compute cash collections from customers for each month.Collections from CustomersCredit SalesJanuaryFebruaryMarchJanuary$$$February
Business
1 answer:
Wittaler [7]2 years ago
3 0

Answer:

January $151,575

February $248,675

March $305,525

Explanation:

The computation of the cash collections is shown below:

January month

= January credit sales × month of sale collection percentage

= $202,100 × 75%

= $151,575

February month

= January credit sales × following month collection percentage + February credit sales  × month of sale collection percentage

= $202,100 × 25% + $264,200 × 75%

= $50,525 + $198,150

= $248,675

March month

= February credit sales × following month collection percentage + February credit sales  × month of sale collection percentage

=  $264,200 × 25%+ $319,300 × 75%

= $66,050 + $239,475

= $305,525

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1 year ago
Determine the missing amounts. (Round answers to 0 decimal places, e.g. 1,225.) Unit Selling Price Unit Variable Costs Unit Cont
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Answer:

Unit Selling Price     Unit Variable Costs    Unit Contribution  Margin Contribution Margin Ratio

1. $570 $420    

Unit Contribution  Margin= Unit Sales Price Less  Unit Variable Price =

$ 570- $ 450 = $150 (a)

Contribution Margin Ratio = Contribution Margin/ Sales = 150/570* 100= 26 % (b)

2. $490      $490 -$130= $360 (c) $130        ($ 130/ $490)* 100= 27 % (d)

3. $23000 (e) $22540 (f) $460 2

Unit Contribution  Margin $460

Contribution Margin Ratio  2

Contribution Margin Ratio= Unit Contribution  Margin/Sales=  $460/ Sales  =2 %

$460/ Sales  =2 %

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4 0
3 years ago
Qs 3-2 computing accrual and cash income lo c1 in its first year of operations, roma co. earned $64,000 in revenues and received
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Answer:

$17,600 ; $29,000

Explanation:

The computation of the net income is shown below:

Based on Cash basis

= Received cash - Expenses incurred in cash - prepaid expenses

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= $17,600

Based on Accrual basis

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= $29,000

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5 0
3 years ago
Swifty Industries had the following inventory transactions occur during 2014: Units Cost/unit 2/1/20 Purchase 55 $46 3/14/20 Pur
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Answer:

$3,785

Explanation:

FIFO Inventory valuation method requires that the Inventory which is purchased first should be sold first and inventory Purchased at last should be sold at last.

As we know Gross profit is the Net of Sales and Cost of Goods Sold.

Sales                            $9,800

Cost of Goods Sold    <u>($6,015)</u>

Gross Profit                  <u>$3,785</u>

All workings are made in an MS Excel File, which is attached with this answer Please find it.

Download xlsx
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3 years ago
there are differences between leasing and buying a car. when you _____, you own the car when you finish paying. purchase a car w
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When you buy a car, you own the car when you finish paying. Leasing is when you rent it.
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3 years ago
Read 2 more answers
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