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3 years ago

Chapter 4

Business

1 answer:

zalisa [80]3 years ago

3 0

Answer: $800,000

Explanation:

Day sales Outstanding = 40 days

Annual sales = $7,300,000

Total days for the year = 365 days

We need to know the average sales per day which will be:

= $7,300,000 / 365

= $20,000

DSO = Account receivable / Average sales per day

40 = Account receivable / 20,000

Account receivable = 40 × 20,000

= $800,000

Therefore, the account receivable balance is $800,000

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Richards Corporation uses the weighted-average method of process costing. The following information is available for October in

olchik [2.2K]

Answer:

e. $2.16

Explanation:

Richards Corporation

Weighted-Average Method

Fabricating Department:

Particulars Units % of Completion Equivalent Units

Materials Conversion Materials Conversion

Completed &

transferred out: 360,000 100 100 360,000 360,000

Ending Inv: 35,000 40% 15% 14000 5250

Equivalent Units 374,000 365250

Costs Direct Materials Conversion

Beg. Work in Process - : $47,200 $89,700

Costs incurred in October - $759,920 $929,300

Total Costs 807,120 1,019,000

Cost Per Equivalent Unit = Total Costs/ Equivalent Units

Cost Per Equivalent Unit Materials = 807120/ 374,000= $ 2.158 ≅$ 2.16

We divide the total costs of Materials with the total Equvilant units of Materials to get Cost Per Equivalent Unit of Materials which is 2.16

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3 years ago

The graph shown below shows the relationship between the age of drivers and the number of car accidents per 100100100 drivers in

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Your Answer Is B.

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GenaCL600 [577]

Answer:

Use a budget to live within your means and build saving

Explanation:

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Through living within your means and with a healthy and well planned saving budget,all borrowed money will be definitely paid back to the lender .

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4 years ago

What are software applications?

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Answer:

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4 years ago

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Auditory Company, which applies overhead to production on the basis of machine hours, reported the following data for the period

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Answer:

Fixed overhead variance= $18,000 favorable

Explanation:

Giving the following information:

Actual units produced: 12,000

Actual fixed overhead incurred: $750,000

Standard fixed overhead rate: $16 per hour

Budgeted fixed overhead: $740,000

Planned level of machine-hour activity: 45,000

Auditory estimates four hours to manufacture a completed unit.

First, we need to calculate the standard fixed costs for the period:

Allocated overhead= Estimated manufacturing overhead rate* Actual amount of allocation base

Allocated overhead= 16* (12,000*4)= $768,000

Actual overhead= 750,000

Fixed overhead variance= actual - allocated

Fixed overhead variance= 750,000 - 768,000= $18,000 favorable

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3 years ago