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Anit [1.1K]
3 years ago
12

] Widget manufacturing Company began operations on January 1. All sales are on credit. Widget has sales budgeted as $160,000 for

January and $290,000 for February. Accounts Receivable collections are expected to be 60% in the month of sale, 30% the next month, and 10% in the third month. Use this information to determine the dollar value of February Expected Cash Collections from Customers. Enter as a whole number (no cents). g
Business
1 answer:
NemiM [27]3 years ago
4 0

Answer: $222000

Explanation:

The dollar value of February Expected cash collections from customers will be calculated as the addition of the January credit sales collection and the February credit sales collection and this will be:

= ($160,000 × 30%) + ($290000 × 60%)

= $48000 + $174000

= $222000

The value of February expected cash collections from customers is $222,000.

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Gail Co. has determined the cost of its 12/31/Year 1 inventory on a moving-average basis to be $200,000. Information pertaining
sineoko [7]

Answer:

C) $0

Explanation:

Gail determined that its inventory's worth by using the lower of cost or net realizable value (NRV). All the inventory accounting methods use this valuation method except LIFO or retail.

In this case the NRV of the inventory is the selling price minus selling costs = $215,000 - $10,000 = $205,000, but the inventory's cost is already lower since the average cost is only $200,000. Therefore the inventory's value is reported at its cost, so there is no reason why a write-down should be recognized.

6 0
3 years ago
North Shore Clothing Company provided the following manufacturing costs for the month of June. Direct labor cost     ​$138,000 D
Alexxx [7]

Answer:

D. ​$242,200

Explanation:

The variable cost is that cost which is changes when there is a change in the level of production.

It includes the direct material cost, direct labor cost, factory supplies, etc

The computation of the total variable cost is shown below:

= Direct material cost + direct labor cost + packaging cost

= $85,000 + $138,000 + $19,200

= $242,200

Therefore we included these three cost for the calculation of the variable cost

4 0
3 years ago
Calculate the present value of the following: a-1. Annual payment of $800 for 10 years at 5% interest. (Do not round intermediat
kipiarov [429]

Answer:

a-1 Present value = 6,177.39

a2- Present Value =6,227.79

a3- Choose the payment stream with the highest present value = a2

b1- Present Value=3,353.98

b2-Present Value=2,805.28

b3-Choose the payment stream with the highest present value = b1

Explanation:

a-1 describes an ordinary annuity whose present value is calculated as follows:

Present value =PMT*\frac{[1-(1+i)^-^n]}{i}

where PMT=$800; i= 5%, n= 10

Present value =800*\frac{[1-(1+0.05)^-^1^0]}{0.05} = 6,177.39

a2- Present value =600*\frac{[1-(1+0.05)^-^1^5]}{0.05} = 6,227.79

a3- If I were receiving these payments annually, I would prefer the payment stream with the highest present value ie a2 -Annual payment of $600 for 15 years at 5% interest.

b1- Present value =800*\frac{[1-(1+0.20)^-^1^0]}{0.20} = 3,353.98

b2-Present value =600*\frac{[1-(1+0.20)^-^1^5]}{0.20} =2,805.28

b3- f I were receiving these payments annually, I would prefer the payment stream with the highest present value ie b1- Annual payment of $800 for 10 years at 20% interest.

3 0
3 years ago
"A particularly odd aspect of the Smoot-Hawley tariff-raising binge was that the United States was running a balance-of-payment
ANEK [815]

Answer:

The correct answer is

Explanation:

The Creditor is the natural or legal person who is paid for the purchase or use of a service that is not directly related to the activity carried out in the business.

That is to say, the purchase of the service is made since it must be necessary for the correct and habitual operation of the business.

7 0
3 years ago
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Mario, an HR specialist at General Motors, needs to conduct a job analysis for the position of a financial analyst position. Whi
Fudgin [204]

Answer:

observation

Explanation:

In order to conduct an observation as job analysis method, Mario need to physically present whenever the candidate is working and directly see how those candidates works.

Even though this might help Mario obtain necessary information about the candidates, This would be considered as inappropriate in professional settings and might be considered as a breach of privacy.

7 0
4 years ago
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