Answer: $5,440
Explanation:
When using the percent of sales method to determine bad debts, the company estimates a percentage that it believes will results in uncollectible debt and then applies it to the sales/revenue figure. The figure that is calculated is then debited along with the debit balance on the Allowance for doubtful accounts to the Bad debts account for the year and credited to the Allowance for doubtful accounts.
This company estimates that they will have 0.6% of credit sales uncollectible.
There are also $790,000 in sales of which all are on credit.
The Uncollectible estimate is therefore,
= 790,000 * 0.6%
= $4,740
This figure is then added to the debit amount on the Allowance for Uncollectible Accounts.
= 4,470 + 700
= $5,440
Note; A debit balance on the Allowance for doubtful debt account signifies that the bad debts were higher than anticipated the last time. This is why the figure is added to the current bad debts expense.
In the given scenario, Rembrandt Cosmetics accomplished its substitution primarily through strategic planning of equivalence.
<h3>What is strategic planning?</h3>
When the differences between two different strategic plans are identical, with other things being constant, such a situation is called as a strategic planning of equivalence.
Hence, strategic planning holds true regarding the given situation.
Learn more about strategic planning here:
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When a number of countries are working harmoniously together, then they would have no problems involving coordination and policy harmonization. It is inevitable to have a difference in opinions brought about by the diversity of culture. However, when countries respect each other's views, they work hand in hand to adjust and compromise with each other. So, the statement is false. The answer is B.
Answer:
variable markup % = 60%
Explanation:
total units sold 22,000
total costs associated with selling the 22,000 units:
variable production costs $18 x 22,000 = $396,000
variable S&A costs $13 x 22,000 = $286,000
fixed overhead = $20,500
fixed S&A = $36,700
total costs = $739,200
total cost per unit = $33.60
selling price = $33.60 + $16 = $49.60
markup percentage = [(sales price - unit cost) / unit cost] x 100
the total markup % = [49.60 - 33.60) / 33.60] x 100 = 47.62%
but since we are going to calculate the markup percentage solely based on variable costs, then:
variable cost per unit = $31
selling price = $49.60
the variable markup % = [49.60 - 31) / 31] x 100 = 60%
Answer: $623 billion
Explanation:
Gross Domestic Product refers to the final value of the goods and services produced within a country in a certain period which is usually a year.
It can be calculated by several approaches with one of them being the Expenditure approach.
The formula is:
= Consumption + Investment + Government spending + Net exports
= 400 + 88 + 128 + 7
= $623 billion
