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3 years ago

Which account will appear in the sales ledger?

Business

1 answer:

lara [203]3 years ago

6 0

Answer:

A- Gill, a credit customer

Explanation:

A journal entry involves the process of keeping the records of business transactions made by an organization.

Journal entries are mainly used by bookkeepers and accountants. Ideally, it is important that a journal has all of following informations; date, reference number, debit balance, credit balance and transaction description.

A sales ledger can be defined as an accounting book that comprises of the individual account of each customer of a business firm and records the money received for goods or services purchased, whether the payment has been received or not.

Simply stated, a sales ledger sequentially records all sales that have taken place in a business, whether or not payment have been received.

This ultimately implies that, a sales ledger contains accounting information on all sales transaction made by a company including, money received for its goods and services and money owed by its customers.

Hence, the account which will appear in the sales ledger is that of Gill, a credit customer.

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Assume that a radiology group practice has the following cost structure: Fixed costs = $500,000 Variable cost per procedure = $2

solniwko [45]

Answer:

(a) $91.67

(b) $687,500

(d) $125; $91.67; $75

Explanation:

(a) Underlying cost structure:

= [($25 × 7,500) + $500,000] ÷ 7,500

= $91.67

(b) Expected total cost:

= $500,000 + ($25 × 7,500)

= $687,500

= $500,000 + ($25 × 5,000)

= $625,000

Estimated total cost at 10,000:

= $500,000 + ($25 × 10,000)

= $750,000

(d) Average cost per procedure at 5,000:

= [($25 × 5,000) + $500,000] ÷ 5,000

= $125

Average cost per procedure at 7,500:

= [($25 × 7,500) + $500,000] ÷ 7,500

= $91.67

Average cost per procedure at 10,000:

[($25 × 10,000) + $500,000] ÷ 10,000

= $75

7 0

3 years ago

Compute conversion costs given the following data: direct materials, $361,300; direct labor, $195,300; factory overhead, $216,70

Radda [10]

Answer:

a. $412,000

Explanation:

Conversion cost is the combination of direct labor and manufacturing overhead which directly or indirectly are necessary to produce a product other than the direct raw materials.

We know,

Conversion costs = Direct Labor + Manufacturing Overhead

Here,

Manufacturing overhead = Indirect material + Indirect Labor + Indirect overhead (including variable and fixed overhead)

Given,

Direct labor = $195,300

Manufacturing overhead = Factory overhead = $216,700

Selling expenses will not be included because it is not a direct or indirect overhead expense.

Therefore,

Conversion costs = $195,300 + $216,700

Conversion costs = $412,000

8 0

3 years ago

A firm produces and sells two products, Plus and Max. The following information is available relating to setup costs (a part of

Ad libitum [116K]

Answer:

Apportioned set-up cost

Plus =$21,600

Max=$43,200

Explanation:

Activity-based costing is a form of absorption costing where overheads are charged to product using cost drivers.

Under this method, overheads are first analyzed and categorized by the activities responsible for them and then charged to product based on the amount of benefits enjoyed using cost drivers.

The cost driver in this scenario is the number of set-ups

Activity rate per driver is calculated as:

Activity overhead for the period / Total cost drivers for the period

So, we can apply this formula to the scenario above:

Set-up overhead= $64,800

Total set-ups for the period = 20 + 40 = 60

Overhead cost per set-up = $64,800/60=1,080

Set-up cost allocation:

Plus - 20 × 1,080=$21,600

Max- 40 × 1,080=$43,200

Apportioned set-up cost

Plus =$21,600

Max-=$43,200

3 0

3 years ago

Which of the following statements is true about skill-based pay?A. Skill-based pay provides a way to ensure that employees can u

Elena-2011 [213]

Answer:

Among the advantages of skill-based pay are the following:

Flexibility is increased by encouraging the performance of multiple tasks. It enables job rotation, and filling of temporary vacancies due, for instance, to absenteeism. It therefore contributes to a leaner workforce.

Explanation:

7 0

3 years ago

Sara Lee Corporation is a large conglomerate of businesses participating in a variety of industries. A few years ago, Sara Lee w

VLD [36.1K]

Answer:

Diverstiture or Selling assets from another division to pay for Bryan Food

Explanation:

Divestiture

This is the process of disposing a company's business unit or assets through bankruptcy, closure, exchange or sale for different purposes.

Reasons for DIvestiture

1. To sell off redundant business units - business units that are not being used or not generating income but are incurring expenses can be sold off to get some gains.

2. To generate funds - Selling a business unit for cash is a source of income. This is the choice or last resort of Sara Lee to acquire Bryan Foods

3. To ensure business survival or stability- Can be an option to declaring complete bankruptcy or closing off business completely

4. To increase resale value- Selling individual unit assets of a business is more profitable than selling the organisation assets en-mass or as a whole piece

Sara Lee Corporation and Bryan Foods

Sara Lee already has a variety of industries, apparently from these variety there are those ones that after much consideration could be redundant units or a not generating as much income or profit as expected.

Because Bryan Foods represents 'a tremedous' opportunity, with the potential to make Sara Lee more successful, the last resort is to pick assets or business units in Sara Lee that may be redundant or potentially generate less than Bryan Foods will and sell them in order to acquire Bryan Foods.

This is the last resort for Sara Lee.

4 0

3 years ago