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LUCKY_DIMON [66]
3 years ago
9

Schuepfer Inc. bases its selling and administrative expense budget on budgeted unit sales. The sales budget shows 3,100 units ar

e planned to be sold in March. The variable selling and administrative expense is $3.60 per unit. The budgeted fixed selling and administrative expense is $35,810 per month, which includes depreciation of $4,600 per month. The remainder of the fixed selling and administrative expense represents current cash flows. The cash disbursements for selling and administrative expenses on the March selling and administrative expense budget should be:
Business
1 answer:
Ipatiy [6.2K]3 years ago
4 0

Answer:

Cash Disbursement for selling and administrative expense = $42,370

Explanation:

Provided information,

Units to be sold in the month of March = 3,100 units

Variable selling and administrative cost per unit = $3.60

Fixed selling and administrative cost  = $35,810

Depreciation included in fixed selling and administrative cost = $4,600

Cash fixed cost of selling and administrative cost = $35,810 - $4,600 = $31,210

Total cash cost of selling and administrative cost = Variable + Cash Fixed cost

Total variable cost = $3.60 \times 3,100 units = $11,160

<u>Total cash disbursement = $11,160 + $31,210 = $42,370</u>

<u></u>

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Answer: (B) Credit to Merchandise Inventory for $50

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We will make these 2 adjusting entries and the reason for that is because the inventory is decreasing by 50 and it is an asset and when asset decreases we credit it. Now that we know that inventory is 15,000 the other 50 must have been cost of goods sold, so cost of goods sold need to be increased by 50 and we will debit cost of good sold by 50 because it is an expense and whenever an expense increases we debit it.

Explanation:

5 0
3 years ago
Anthony corporation reported the following amounts for the year: net sales$296,000 cost of goods sold 138,000 average inventory
VladimirAG [237]

In the given question GP ratio will be 53.4%

Here Net sales= 296000 $

Cost of goods sold= 138000 $

average inventory= 50000 $

Gross profit= Net sales- Cost of goods sold

                    =296000-138000

                     =158000

Formula for calculating Gross profit ratio is:

Gross profit/ Net sales *100

= 158000/296000*100

=53.4%

Gross profit ratio is a financial ratio which measures the performance and efficiency of a business by dividing its gross profit  by the total net sales. The gross profit ratio can also be expressed in  the form of percentage by multiplying the result by 100.

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4 0
1 year ago
The present value of cash flow will be greater if we compound less frequently holding the stated interest rate constant. a. true
Fittoniya [83]

The present value of cash flow will be greater if we compound less frequently holding the stated interest rate constant.  true

<h3>What is interest rate constant?</h3>

A proportion that compares a loan's annual debt service to the sum of its principal is known as a loan constant. The annual debt service is divided by the total loan amount to determine a loan constant. Borrowers can compare the loan constants of several loans when looking for a loan before choosing one. The loan with the lowest loan constant will have reduced debt service obligations, resulting in a shorter length of time during which the borrower will pay less in interest and principal. Only loans with fixed interest rates are subject to loan constants; loans with variable interest rates are not.

A loan constant is a ratio that illustrates the annual debt service of a loan in relation to the entire loan principal.

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7 0
1 year ago
You have received two bids from outside companies to conduct guest satisfaction surveys for you. You want at least 320 responses
natka813 [3]
It’s b I think. Lmk if I’m wrong
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2 years ago
If Southwest Development Company is a​ 50-50 partnership of Merideth Harper and Christopher​ Black,: ​(Select the best answer​ b
Kobotan [32]

Answer:

The answer is: A) Ms. Harper has unlimited​ liability, which means creditors can claim against her personal assets.

Explanation:

One of the most important characteristic of a partnership is unlimited liability. That means that in case the partnerships goes bankrupt, the partners are responsible for paying the partnership´s debt even with their own personal assets.

If one partner doesn´t have enough assets to meet his share of the debt, the other partner (or partners) can be held liable for the unpaid debt.

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