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3 years ago

which question or questions should you ask yourself when determining how much money you can afford to spend on a mortgage

1 answer:

3 0

What is my income. then subtract
what are my ordinary monthly expenses.
what is my weekly allowance.
what are my incidentals
what are my insurance and taxes going to be.
are these included in the mortgage.
allow 10% for tithing
clothing costs
medical copays.
do you get paid for sick days.

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Explain what a cash budget is and why it is important for all businesses.

deff fn [24]

Answer:

A cash budget is very important, especially for smaller companies. It allows a company to establish the amount of credit that it can extend to customers without having problems with liquidity. A cash budget helps avoid a shortage of cash during periods in which a company encounters a high number of expenses.

Explanation:

4 0

3 years ago

Individuals and countries specialize because the opportunity cost of producing goods and services: Multiple choice question.

Darina [25.2K]

Individuals, corporations, and economies specialize because the opportunity cost of producing goods and services differs from country to country, business to business, and individual to individual.

Persons, Corporations, and Economies are bound to specialize in the production of goods and or services in which they hold a stronger comparative advantage than their competition.

<h3>What is comparative advantage?</h3>

This is defined as the ability of an individual, corporate entity, or national to perform an economic activity more efficiently or at a lower (opportunity cost) than the other.

Examples of economic activities are:

Resource management
production of services and goods
distribution of services and goods
consumption of services and goods

See the link below to learn more:

brainly.com/question/7045530

4 0

3 years ago

Whistle Works sells each whistle for $12. It takes 3 ounces of metal to produce each whistle at a cost of $0.50 per ounce. They

mart [117]

The question is incomplete. The complete Question is as follows,

Whistle Works manufacturers safety whistle keychains. They have the following information available to prepare their master budget:

Units to be produced

October 4,500

November 4,750

December 5,200

Whistle Works sells each whistle for $12. It takes 3 ounces of metal to produce each whistle at a cost of $0.50 per ounce. They prefer to have 10% of materials required for the following month's production in ending inventory as well. How many ounces of direct materials does Whistle Works need to purchase in October to meet production needs?

A) 4,500 ounces

B) 13,575 ounces

C) 13,425 ounces

D) 4,525 ounces

Answer:

Purchases = 13575 ounces

Option B is the correct answer

Explanation:

To calculate the purchases of material for October, we first need to calculate the inventory needed to produce the desired number of units in October along with the desired ending inventory and adjust it for the available opening inventory at start of October.

Material available at Start - October = 10% * 4500 units * 3 ounces per unit Material available at Start - October = 1350 ounces

Material required at end - October = 10% * 4750 units * 3 ounces per unit

Material required at end - October = 1425 ounces

Material required to produce required units in October = 4500 * 3 = 13500

Production = Opening Inventory + Purchases - Closing Inventory

13500 = 1350 + Purchases - 1425

13500 + 1425 - 1350 = Purchases

Purchases = 13575 ounces

4 0

3 years ago

Zuo Software categorizes its accounts receivable into four age groups for purposes of estimating its allowance for uncollectible

yaroslaw [1]

Answer:

(1) $66,500

(3) $453,500

Explanation:

(1) Account receivable total:

= $400,000 + $50,000 + $40,000 + $30,000

= $520,000

Allowance for uncollectible account total:

= ($400,000 × 8%) + ($50,000 × 15%) + ($40,000 × 30%) + ($30,000 × 30%)

= $32,000 + 7,500 + $12,000 + $15,000

= $66,500

Balance of allowance for uncollectible accounts on 12/31/2021 is $66,500.

(2) Journal entry for adjusting the allowance for uncollectible account is :

Bad debt expense A/c Dr. $44,500

To Allowance for uncollectible account $44,500

(Adjusting entry)

Workings:

= Amount uncollectible - credit balance in its allowance for uncollectible accounts

= $66,500 - $22,000

= $44,500

(3) Net account receivable balance on 12/31/2021:

Accounts receivables total = $520,000

Allowance for uncollectible account = $66,500

Net Account Receivables:

= Accounts receivables total - Allowance for uncollectible account

= $520,000 - $66,500

= $453,500

7 0

3 years ago

Total fixed costs for Randolph Manufacturing are $ 764,000. Total costs, including both fixed and variable, are $ 1 comma 040

taurus [48]

Answer:

$3.35 per unit

Explanation:

The computation of the fixed cost per unit is shown below:

Given data

Total fixed cost = $764,000

Total cost i.e fixed cost + variable cost = $1,040,000

Total units produced = 200,000

The units is 228,500

So, the fixed cost per unit is

= Total fixed cost ÷ Number of units

= $764,000 ÷ 228,500 units

= $3.35 per unit

By dividing the total fixed cost with the number of units we can get the fixed cost per unit

8 0

3 years ago