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3 years ago

Shalimar Company manufactures and sells industrial products. For next year, Shalimar has budgeted the following sales:

Business

1 answer:

nikitadnepr [17]3 years ago

8 0

Answer:

Shalimar Company

Cash Sales and Credit Sales:

a) Last two quarters of the current year:

Current Year Quarter 3 Quarter 4

Budgeted Sales $4,900,000 $6,850,000

Cash (10%) 490,000 685,000

Credit (90%) 4,410,000 6,165,000

b) Each quarter of the next year:

Quarter 1 Quarter 2 Quarter 3 Quarter 4

Budgeted

Sales $4,600,000 $5,100,000 $5,000,000 $7,600,000

Cash (10%) 460,000 510,000 500,000 760,000

Credit

Sales (90%) 4,140,000 4,590,000 4,500,000 6,840,000

Explanation:

a) Data and Calculations:

Quarter 1 Quarter 2 Quarter 3 Quarter 4

Budgeted

Sales $4,600,000 $5,100,000 $5,000,000 $7,600,000

Cash (10%) 460,000 510,000 500,000 760,000

Credit

Sales (90%) 4,140,000 4,590,000 4,500,000 6,840,000

Current Year Quarter 3 Quarter 4

Budgeted Sales $4,900,000 $6,850,000

Cash (10%) 490,000 685,000

Credit (90%) 4,410,000 6,165,000

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When producers receive a subsidy, sellers receive a:

Vesnalui [34]

Answer:

b. lower price than the pre-subsidy equilibrium, and buyers pay a lower one.

Explanation:

A subsidy is a governments intervention in the form of cash or tax cuts. The government offers subsidies to producers to motivate them to produce more or to lower their cost of production. As a result, there will be more products in the market or goods will be cheaper.

Equilibrium price refers to the price determined by the forces of supply and demand. It is the intersection of the demand and supply curve. It is the price that buyers are willing to pay for a certain quantity of a product; all other factors held constant.

Should a producer receive a subsidy, It will lower his cost of production. The producer's output will cost less. He can afford to offer sellers a lower price as a result of the subsidy. The traders will be able to sell the products in the market at a low price compared to a situation with no subsidy.

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3 years ago

Which of the following products is likely to have an inelastic supply reaction to a change in price? A. Corn B. Cars C. Shoes D.

Sergio039 [100]

The correct answer is C,
A good is said to have an inelastic supply if the suppliers did not have any choice than producing it even though the cost of production is high and the buyers did not have any choice than buying it even though it is expensive.
No one can do without shoes, even if they are expensive, we still need to buy them.

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3 years ago

Read 2 more answers

A firm has inventory of $46,500, accounts payable of $17,400, cash of $1,250, net fixed assets of $318,650, long-term debt of $1

Vedmedyk [2.9K]

Answer:

The common-size percentage of the equity is c. 66.87 percent

Explanation:

Total asset of the firm = Inventory + Cash + Net fixed assets + Accounts receivable = $46,500 + $1,250 + $318,650 + $16,600 = $383,000

Liabilities = Accounts payable + Long-term debt = $17,400 + $109,500 = $126,900

Basing on Accounting Equation Formula :

Total Assets = Liabilities + Owner’s Equity

Owner’s Equity = Total Assets - Liabilities = $383,000 - $126,900 = $256,100

The common-size percentage of the equity = ($256,100/$383,000) x 100% = 66.87%

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3 years ago

Tancredi Corporation has two manufacturing departments--Machining and Customizing. The company used the following data at the be

olganol [36]

Answer:

Results are below.

Explanation:

First, we need to calculate the predetermined overhead rate:

Fixed overhead= 33,500

Total variable overhead= (1.8*5,000) + (3*5,000)= 24,000

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Predetermined manufacturing overhead rate= (33,500 + 24,000) / 10,000

Predetermined manufacturing overhead rate= $5.75

Now, we can determine the total cost for each Job:

Job E:

Direct material= $12,800

Direct labor= $17,600

Allocated overhead= (3,400 + 2,000)*5.75= $31,050

Total cost= $61,450

Job J:

Direct material= $7,000

Direct labor= $1,600

Allocated overhead= (1,600 + 3,000)*5.75= $26,450

Total cost= $35,050

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3 years ago

Services provided by a public-service companies, such as water, electricity and gas are all known as

Artist 52 [7]

I believe the answer is A.) Utilities

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3 years ago