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34kurt
3 years ago
15

Magnolia Candle Inc. pays 10% of its purchases on account in the month of the purchase and 90% in the month following the purcha

se. If purchases are budgeted to be $11,900 for March and $12,700 for April, what are the budgeted cash payments for purchases on account for April?
Business
1 answer:
Marizza181 [45]3 years ago
6 0

Answer:

Total cash disbursement= $12,620

Explanation:

Giving the following information:

10% of purchases on account are paid in the month of the purchase

90% of purchases on account are paid in the month following the month of the purchase

Purchases:

March= $11,900

Abril= $12,700

<u>Cash payment April:</u>

Purchase on account from April= 12,700*0.9= 11,430

Purchase on account from March= 11,900*0.1= 1,190

Total cash disbursement= $12,620

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Alpha Technology produces two products: a high-end laptop under the label Excellent Laptops and an inexpensive desktop under the
s2008m [1.1K]

Answer:

Alpha Technology

Outstanding Computer's consumption ratio for setup hours is:

b. 0.48

Explanation:

a) Data and Calculations:

Overhead activities and costs:

Setting up equipment $3,000

Machining $15,000

                                            Excellent      Outstanding

                                             Laptops        Computers

Direct Labor                         $25,000         $10,000

Direct Materials                   $20,000          $5,000

Expected Production in Units 3,000             3,000

Machine Hours                           850             2,000

Setup Hours                                  80                  75

Total setup hours = 155 hours

Outstanding Computer's consumption ratio for setup hours = 75/155 * 100

= 48%

8 0
3 years ago
During the past five years, the nation of Andolvia began a massive undertaking: teaching farmers how to successfully grow and ha
Nutka1998 [239]

Answer:

The correct answer is (D) Import quotas

Explanation:

Import quotas are part of economic policies imposed by a country to <u>protect domestic industries</u> from foreign competition. For this case, the nation of Andolvia placed a restriction on the supply of peanut products to be imported, as they have subsidized and made efforts for their local young peanut industry to grow and mature.

8 0
3 years ago
Blue Sky Company’s 12/31 balance sheet reports assets of $65,893 and liabilities of $28,686. All of Blue Sky’s assets’ book valu
padilas [110]

Answer:

Goodwill is $ 50,166.00  

Explanation:

Goodwill is the excess of purchase price consideration over the fair value of net assets of the business acquired.

Purchase price consideration is the proceeds received by the owners of the business acquired in a business combination arrangement like this.

The net assets is the fair value of assets minus the fair value of the liabilities.

Purchase price consideration is $97,109

Net assets =$65,893+$9,736-$28,686=$ 46,943.00  

Goodwill=$97,109-$46,943.00  =$ 50,166.00  

3 0
3 years ago
Bradford Company had sales of $700,000 for a year. The total assets at the beginning of the year were $240,000, and the total as
11111nata11111 [884]

Answer:

Option (a) is correct.

Explanation:

Given that,

Sales = $700,000

Beginning total assets = $240,000

Ending total assets = $280,000

The asset turnover ratio refers to the ratio of sales to the average total assets.

Average total assets:

= (Beginning total assets + Ending total assets) ÷ 2

= ($240,000 + $280,000) ÷ 2

= $260,000

Therefore, the asset turnover ratio is as follows:

= Sales ÷ Average total assets

= $700,000 ÷ $260,000

= 2.69

7 0
3 years ago
Business head Brent wants to categorize items under the Challenge, Risk, and Reward headings for his IS implementation presentat
Savatey [412]

Answer:

Challenge

  • Quality Issues
  • Lack of Documentation

Risk

  • Loss of Confidentiality
  • System Unavailability

Reward

  • Increased Quality
  • Reduced Cycle

Explanation:

A challenge is something that test you and your business. The are temporary obstacles that you have to surpass in order to be successful.

Business Risk means the possibility of loss or any adverse condition that may severely damage the organization's ability to achieve its goals and objectives.  

Reward means a positive outcome that has happened because of productive decision making and effective management.  

7 0
3 years ago
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