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riadik2000 [5.3K]
3 years ago
14

Super Grocery store allocates its service department expenses to its various operating (sales) departments. The following data i

s available for its service departments: Expense Basis for allocation Amount Administrative Square feet of floor space $15,000 Advertising Amount of dollar sales $8,000 The following information is available for its three operating (sales) departments: Department Square Feet Dollar Sales Produce 1,000 $80,000 Bakery 800 $30,000 Meats 1,200 $42,000 Totals 3,000 $152,000 What is the total administrative expense allocated to the Meats department?
Business
1 answer:
Kruka [31]3 years ago
8 0

Answer:

6,000

Explanation:

The computation of the total administrative expense allocated to the Meats department is shown below:

= (Total administrative expenses ÷ total square feet) × meat square feet

= ($15,000 ÷ 3,000) × 1,200

= 6,000

We simply do the proportion based on the meats department by dividing the total square feet

All other information which is given in the question is not considered. Hence, ignored it

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2 years ago
Company A has a shorter Average Collection Period than Company B using the formula 365 / (Credit Sales / Average AR Balance). Wh
Irina-Kira [14]

Answer:

Statement B is correct

Explanation:

Provided Information that,

Company A has shorter Average Collection Period than Company B,

Average Collection Period refers to the period in which the cash is collected from debtors.

Thus in the given statements only statement B states that Company A is more efficient in collecting receivables from debtors, thus it is the correct statement.

Statement A is wrong as Company A has less Average Collection Period, thus it's credit sales percentage would be higher than Company B.

Statement C which states about generating revenue is not correct as the company might have cash sales.

Statement B is correct

3 0
3 years ago
why might a bank offer to make a loan to a consumer at a low initial rate which will increase after a set period of time?a. too
Whitepunk [10]

I believe the answer is: c. to make the loan look more attractive and competitive now

By offering it at low initial rate, the people who borrow money would experience low burden if they plan to return the money within short period of time. This would make them much more likely to obtain a loan, and it also would make the bank that create the loan program looks better compared to their competitors.

8 0
3 years ago
Scarcity can be eliminated if
bogdanovich [222]

Answer:

The scarcity is the key problem that the economics are trying to find an answer to and try to mitigate by making the resources more productive.

The scarcity arises because of 2 main factors,

  1. The human wants are Unlimited
  2. The resources available to satisfy these wants are Limited

In theory, if we need to "eliminate" scarcity complete we should either Limit our Needs or find an Unlimited source of resources we require.

However, these are not practical solutions.

So because of this, economics try to utilize technology and other factors to harness the full potential of resources and to use them optimally.

Explanation:

6 0
3 years ago
At December 31, 2018, Oriole Company reported the following information on its balance sheet.
drek231 [11]

Answer:

Bad debt expense (Dr.) $68,930

Allowance for Doubtful Debt (Cr.) $68,930

Explanation:

Accounts Receivable :

Balance $948,000

Add: Sales $3,609,930

Less: Sales returns $51,000

Less: Collections $2,756,000

Less: Write offs $97,000

Add: Recovery of old Bad debts $28,000

Adjusted Balance $1,653,930

Bad Debts :

Balance $78,000

Less: Allowance for doubtful debts $97,000

Less: Recovery $28,000

Adjusted Balance $9,000

7 0
3 years ago
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