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3 years ago

Troy has $50 a month transferred electronically from his checking account to his savings account. This is an example of:

Business

1 answer:

kupik [55]3 years ago

7 0

Answer:

Saving plan

Explanation:

The saving plan are the life insurance plans that offers the various opportunity to an individual in order save and accumulated the fund for the upcoming future

Since Troy has $50 a month and the same is transferred electronically from his checking account to his saving account so automatically he saves each month

Therefore the same represent the saving plan

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The sales budget for Modesto Corp. shows that 12,000 units of Product A and 14,000 units of Product B are going to be sold for p

Mamont248 [21]

Answer:

Total product A Sales = $132000

Total Product B Sales = $182000

Total Sales of Both Products = $314000

Explanation:

The Product A sales calculated using the formula = Budgeted Units Sold x Sales price Per Unit of Product A

Total Product A Sales = 12000 x $11 = $132000

The Product B sales calculated using the formula = Budgeted Units Sold x Sales price Per Unit of Product B

Total Product A Sales = 14000 x $13 = $182000

Total sales of Both product = Total Product A Sales + Total Product B Sales

Total Sales of Both Product = $132000 + $182000 = $314000

The budgeted sales for the Modesto Corp. is $314000

4 0

3 years ago

Sheridan Company uses the percentage-of-receivables method for recording bad debt expense. The Accounts Receivable balance is $2

Lady_Fox [76]

The adjusting entry that Sheridan Company will make if the Allowance for Doubtful Accounts has a credit balance of $2500 before adjustment is:

Debit Bad Debt Expense $10,000

Credit Allowance for Doubtful Accounts $10,000

Sheridan Company Adjusting Journal entry

Debit Bad Debt Expense $10,000

Credit Allowance for Doubtful Accounts $10,000

[($250,000 × 0.05) - $2,500]

[($12,500- $2,500)=$10,000]

(To record Allowance for Doubtful Accounts)

Learn more here:

brainly.com/question/15683850

5 0

3 years ago

Lusk Corporation produces and sells 15,800 units of Product X each month.

earnstyle [38]

Answer:

a. decrease by $58,800 per month

Explanation:

The computation is shown below;

<u> Particulars Amount </u>

Contribution from product X $94,800 ($28 - $22) × 15,800 units

Less: Fixed cost -$108,000

Net loss avoided -$13,200

Non-avoidable fixed cost $72,000

The Total cost in case the product fall $58,800

Hence, the correct option is a.

5 0

3 years ago

The following information is available for the year ended December 31: Beginning raw materials inventory$12,000 Raw materials pu

posledela

Answer:

Direct material used= $88,600

Explanation:

Giving the following information:

Beginning raw materials inventory$12,000

Raw materials purchase 88,000

Ending raw materials inventory 11,400

<u>To calculate the direct material used in production, we need to use the following formula:</u>

Direct material used= beginning inventory + purchases - ending inventory

Direct material used= 12,000 + 88,000 - 11,400

Direct material used= $88,600

3 0

2 years ago

If cost of goods sold under FIFO was $8,000 and was $10,000 under LIFO, assuming a tax rate of 40%, how much tax savings resulte

Inessa05 [86]

Answer:

$800

Explanation:

The computation of the tax saving from using LIFO is shown below:

= Cost of goods sold under LIFO × tax rate - Cost of goods sold under FIFO × tax rate

= $10,000 × 40% - $8,000 × 40%

= $4,000 - $3,200

= $800

By applying the above formula, the tax saving resulted from using the LIFO is $800 and the same is to be considered

3 0

3 years ago