Answer:
$607,000
Explanation:
False Value Hardware began 2016 with a credit balance of $32,000 in the allowance for sales returns account.
Sales and cash collections from customers during the year were $650,000 and $610,000, respectively.
False Value estimates that 6% of all sales will be returned.
During 2016, customers returned merchandise for credit of $28,000 to their accounts.
False Value's 2016 income statement would report net sales of:
The closing balance in the allowance for sales returns account will be: 32,000 opening balance + 6% 0f 650,000 - sales returns within the year of 28,000 = $43,000
Hence Net Sales will be 650,000 - 43,000 = $607,000
Answer:
Explanation:
<u>The first step</u> will be get the contribtuion margin:
800,000 - 6000,000 = 200,000
This is the amount after variables cost used to pay the fixed cost and make a gain.
Second, we calcualte the contribution margin ratio
200,000/800,000 = 0.25
Per dollar of sales 25 cents are available to pay the fixed cost.
Now, we calculate the break even point in dollars
Answer:
$142,524
Explanation:
The computation of the total cost assigned to the ending work in process
inventory is shown below:
As we know that
Total cost = Material + Labor
where,
Material = 21,400 units × 100% × $3.60 = $77,040
And,
Labor = 21,400 units × 60% × $5.10 = 65,484
So, the total cost is $142,524
We simply added material and the labor cost according to their completion percentage and its cost per equivalent units
The differences in average income are $6,080, $6169, $18,219, and $19,151.
The table below organizes income from the one with the lowest education level to the highest one. Moreover, there is a general trend in which income increases with education.
Now, to find the difference in average income based on education it is necessary to subtract the income of a lower level to the income of the next educational level.
Less than Highschool vs. High school graduate:
- $31,956 - $25,876 = $6,080
High school graduate vs. some college or Associate's degree:
Some college or Associate's degree vs. Bachelor's degree:
- $56,344 - $38,125 = $18,219
Bachelor's degree vs Profession or Doctorate degree:
- $75,495 - $56,344 = $19,151
Learn more about mathematics in: brainly.com/question/12083755
