Reeves Co. filed suit against Higgins, Inc., seeking damages for copyright violations. Higgins' legal counsel believes it is pro
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Answer:
The appropriate answer is "$22,305".
Explanation:
The given values are:
Estimated uncollectible,
= $22,750
Credit balance in allowance,
= $445
Now,
The bad debt expense will be:
=
By substituting the values, we get
=
= ($)
Answer:
Direct Material Price Variance = $300 Favorable
Explanation:
Direct Material Price Variance = (Standard Price - Actual Price) Actual Quantity
Standard Price = $4 per pound
Actual Price = =
Since the actual price is less than the standard price the variance will be favorable as the amount paid for actual use is less then the estimated standard cost.
Thus, direct material price variance = ($4 - $3.8) 1,500
= $300 Favorable