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3 years ago

Sedman, Corp., has projected the following sales for the coming year:

Business

1 answer:

QveST [7]3 years ago

3 0

Answer:

a. Calculate payments to suppliers assuming that the company places orders during each quarter equal to 30 percent of projected sales for the next quarter. Assume that the company pays immediately.

Q1 payment = Q2 sales x 30% = $930 x 30% = $279

Q2 payment = Q3 sales x 30% = $890 x 30% = $267

Q3 payment = Q4 sales x 30% = $990 x 30% = $297

Q4 payment = next year's Q1 sales x 30% = $935 x 30% = $280.50

b. Calculate payments to suppliers assuming a 90-day payables period.

assuming that merchandise is not delivered on the same day that the order was made, the payment should be made on the next quarter. Following A, payables from Q1 would be paid on Q2, payables from Q2 would be paid on Q3, ad finally payables of Q3 would be paid on Q4. Sine sales grow by 10% each year, in order to calculate payables due on Q1 we must divide Q4 sales by 1.1, and then multiply by 30% = ($990 / 1.1) x 30% = $270

Q1 payment = (Q4/1.1) x 30% = $270

Q2 payment = Q2 sales x 30% = $930 x 30% = $279

Q3 payment = Q3 sales x 30% = $890 x 30% = $267

Q4 payment = Q4 sales x 30% = $990 x 30% = $297

c. Calculate payments to suppliers assuming a 60-day payables period.

Same as A since these are quarterly payments, and each quarter has 91 days

Q1 payment = Q2 sales x 30% = $930 x 30% = $279

Q2 payment = Q3 sales x 30% = $890 x 30% = $267

Q3 payment = Q4 sales x 30% = $990 x 30% = $297

Q4 payment = next year's Q1 sales x 30% = $935 x 30% = $280.50

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Answer:

a. raw materials purchases

raw materials 505,000 debit

account payable 505,000 credit

b. direct materials usage

Weaving WIP 304,000 debit

Sewing WIP 84,000 debit

Raw Materials 388,000 credit

c. indirect materials usage

Factory overhead 164,000 debit

Raw Materials 164,000 credit

d. direct labor usage

Weaving WIP 1,275,000 debit

Sewing WIP 485,000 debit

Wages Payables 1,760,000 credit

e . indirect labor usage

Factory overhead 1,525,000 debit

Wages Payables 1,525,000 credit

f. other overhead costs

Factory Overhead 186,000 debit

Other Account Payable 186,000 credit

g. overhead applied

Weaving WIP 1,083,750 debit

Sewing WIP 751,750 debit

factory Overhead 1,760,000 credit

h. payment of total wages costs.

Wages Payable 3,285,000 debit

Cash 3,285,000 credit

Explanation:

the direct cost is assigned to each department while the indirect cost into factory overhead

g) overhead calculations:

Weaving $1,275,000 labor x 85% = 1,083,750

Sewing $ 485,000 labor x 155% = 751,750

Total applied overehead: 1,835,500

h) total wages cost:

Wages payable T-account

DEBIT CREDIT

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d) 1,760,000

e) 1,525,000

Balance 3,285,000

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3 years ago

While visiting a client to deliver their 2019 tax documents, one of the owners approaches you and states: "The IRS says my trave

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Answer:

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While business travel refers to not only leaving your house to go to work, but actually going somewhere else to perform your regular business activities, e.g. going form one state to another to close a sale. In order for business travel to be effectively recognized as such, it must be necessary for your business activity and it should last more than one ordinary workday.

In this case, your client continuously leaves his house and goes form one state to another performing his normal business activities. This perfectly fits the IRS's definition of business travel.

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4 years ago

_____ is the degree to which a company relies on a provider because of the importance of the provider's product to the company a

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Answer:

Supplier dependence

Explanation:

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What is the main goal of real estate investing?

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Answer:

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2 years ago

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3 years ago