Answer: Brian will have $700 dollars to pay the medical bill balance
Explanation: You already know your total is $3,000. Subtract 3,000 - 2,300, which will give you $700.00
Answer and Explanation:
a. The preparation of income statement is shown below:-
Income Statement
Service revenue $80,000
operating expenses
Salary expenses $28,000
Uncollectible accounts
expense $3,273
Total operating expense $31,273
Net income $48,727
Working Note :-
Days Amount Percentage Allowance balance
Current $16,800 0.01 $168
0-30 $5,100 0.05 $255
31-60 $4,000 0.10 $400
61-90 $2,000 0.30 $600
Over 90
days $3,700 0.50 $1,850
Total $31,600 $3,273
b. The computation of net realizable value of the accounts receivable is shown below:-
Net realizable value = Accounts receivable - Allowance for doubtful accounts
= ($80,000 - $48,400) - $3,273
= $31,600 - $3,273
= $28,327
Answer: Total Variable Costs = $110130
Explanation:
The question in incomplete. Requirements were not provided in the question, as a result it is not clear what the question requires us to do. We will assume the question requires us to calculate Total variable costs since There is nothing in the question that talks about fixed costs.
Total Variable Costs
Manufacturing costs
Direct Material Per pound = $2.95
Direct Material used = 27800 pounds
Direct Material Cost = 27800 x 2.95 = $82010
Direct Labor
Direct Labor cost per hour = $6.20
Direct Labor hours = 3800
Direct Labour Cost = 3800 x $6.20 = $23560
Variable Manufacturing overhead cost = $4560
Total Variable Costs = Direct Material cost + Direct labor costs + Variable Manufacturing overhead
Total Variable Costs = $82010 + $23560 + $4560
Total Variable Costs = $110130
