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3 years ago

Acme, Inc., incurs the following costs during May:

Business

1 answer:

chubhunter [2.5K]3 years ago

8 0

Answer:

Particulars Amount

Raw material used $18,600

Add: Direct labor $26,600

Overhead costs

Factory supplies $3,100

Plant depreciation $6,800

Indirect labor $8,600

Utilities ($10,600*80%) $8,480

Total overhead cost $26,980

Total manufacturing costs $72,180

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has a margin of safety percentage of 20% based on its actual sales. The break-even point is $759000 and the variable expenses ar

lora16 [44]

Answer: $379,500

Explanation:

Total Sales = Break-even sales + Margin of Safety

The Break-Even sales are therefore = 100% - 20%

= 80% of sales

Total Sales is therefore;

Break-even = 80% * Total Sales

Total Sales = Break-even/80%

= 759,000/0.8

= $948,750

Assuming no fixed costs, actual profit will be Sales less Variable expenses;

=Sales - Variable expenses

= 1 - 60%

Actual profit = 40% * Sales

= 40% * 948,750

= $379,500

4 0

4 years ago

Using these data from the comparative balance sheet of Blossom Company, perform vertical analysis. (Round percentages to 1 decim

vovikov84 [41]

Answer:

For 2017

Account receivable % = Account Receivable/Total Assets x 100

Account receivable % = $ 497,000/$ 3,101,000 * 100

Account receivable % = 0.16027088 * 100

Account receivable % = 16.0%

Inventory % = Inventory/Total Assets *100

Inventory % = $ 735,000/$ 3,101,000 * 100

Inventory % = 0.2370203 * 100

Inventory % = 23.7 %

Total Assets = $3,101,000 = 100%

For 2016

Account receivable % = Account Receivable/Total Assets * 100

Account receivable % = $ 435,000/$ 2,758,000 * 100

Account receivable % = 0.15772298 * 100

Account receivable % = 15.8%

Inventory % = Inventory/Total Assets * 100

Inventory % = $555,000/$ 2,758,000 * 100

Inventory % = 0.20123277 * 100

Inventory % = 20.1%

Total Assets = $2,758,000 = 100 %

7 0

3 years ago

At year-end (December 31), Chan Company estimates its bad debts as 0.30% of its annual credit sales of $673,000. Chan records it

Rudiy27

Answer:

bad debt expense 2,019 debit

allowance for uncollectible amount 2,019 credit

--to record estimated bad debt expense--

allowance for uncollectible amount 337 debit

accounts receivables 337 credit

--to record write-off of P.Park Account--

accounts receivables 337 debit

allowance for uncollectible amount 337 credit

--to reverse write-off of P-Park account--

cash 337 debit

accounts receivables 337 credit

--to record collection of P-Park account--

Explanation:

bad debt expense 673,000 x 0.30% = 2,019‬

The write off decreases both, the allowance and accounts receivables

As Park pay up his old debt, the entry is reversed. Then we record the collection as normal.

6 0

3 years ago

The present value interest factor for an annuity with an interest rate of 8 percent per year over 20 years is ____.

lianna [129]

The present value factor of an annuity that will mature in 20 years at an interest rate of 8% is 9.8181474.

<h3>What is the present value interest factor?</h3>

It can be found by using the present value of an annuity formula of:

= Amount x ( 1 - ( 1 + rate) ^ - number of periods) / Rate

As there is no amount, solving gives:

= ( 1 - ( 1 + 8%) ⁻²⁰) / 8%

= 9.8181474

In conclusion, it is 9.8181474.

Find out more on present value of annuity at brainly.com/question/25792915.

8 0

3 years ago

New Products pays no dividend at the present time. Starting in Year 3, the firm will pay a dividend of $.25 per share for two ye

maksim [4K]

Answer:

$3.56

Explanation:

Please see attachment .

8 0

4 years ago