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aniked [119]
3 years ago
6

Drew Enterprises reports all its sales on credit, and pays operating costs in the month incurred. Estimated amounts for the mont

hs of June through October are:
June July August September October
Budgeted sales $310,000 $330,000 $300,000 $280,000 $260,000
Budgeted purchases $144,000 $120,000 $128,000 $132,000 $90,000
• Customer amounts on account are collected 60% in the month of sale and 40% in the following month.
• Cost of goods sold is 45% of sales.
• Drew purchases and pays for merchandise 30% in the month of acquisition and 70% in the following month.

How much cash is budgeted to be received during August?
Business
1 answer:
Afina-wow [57]3 years ago
8 0

Answer:

$312,000

Explanation:

Given that,

August Sales = $300,000

July sales = $330,000

Customer amounts on account are collected 60% in the month of sale and 40% in the following month.

Cash Receipts during August:

= (August Sales × 60%) + (July Sales × 40%)

= ($300,000 × 60%) + ($330,000 × 40%)

= $180,000 + $132,000

= $312,000

Therefore, the cash is budgeted to be received during August is $312,000.

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Phoenix Guitars is interested in pursuing backward integration to take greater ownership of the extraction of raw materials and
jok3333 [9.3K]

Answer:

Option A

Explanation:

In simple words, Regardless of the expense of making guitars, the technique reduces the total cost of manufacturing a instrument. Phoenix would be in the production business of instruments, not pickups.

The target of this technique is therefore the entire guitar, not really the pickups. The smaller the process of manufacturing their instruments, the better manoeuvrability they have on the market. When they have reduced costs, they may change rates downwards in order to capture further market penetration.

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3 years ago
System testing:
yarga [219]

Answer:

C) tests the functioning of the system as a whole.

Explanation:

System testing refers to a process in which a complete system is evaluated to make sure that it works properly and fulfills the requirements. According to this, the answer is that system testing tests the functioning of the system as a whole.

The other options are not right because system testing doesn't separate components or programs as it involves the actual evaluation of the whole system to find defects and it is done before the acceptance testing.

3 0
3 years ago
The corporate charter of Llama Co. authorized the issuance of 10 million, $1 par common shares. During 2016, its first year of o
kotegsom [21]

Answer:

$116 million

Explanation:

January 1                  8,000,000*(15-1)     =$112,000,000

December 28  Treasury stock sold    2,000,000*(20-18)=$4,000,000

Paid in Capital At December 31,2016                           $116,000,000

3 0
3 years ago
What is the e-file rejection error for an Invalid bank account or routing transit numbers?
lidiya [134]
The e-file rejection error for an invalid bank account or routing transit numbers is error code "0019". It might be caused due to a variety of reasons and is present in tax accounting software, where an e-file sent to the IRS is rejected, hence the error name. An incomplete installation might be one of the several reasons behind an e-file rejection error.
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3 years ago
If the price of Spanish olives imported into the United States decreases, then:
Maurinko [17]

Answer:

d. the consumer price index will decrease, but the GDP deflator will not decrease.

Explanation:

If the price of Spanish olives imported into the United States decreases, then the consumer price index will decrease, but the Gross Domestic Products (GDP) deflator will not decrease.

The GDP price deflator also known as the implicit price deflator, measures the changes in the level of prices for all of the final goods and services produced domestically in an economy in a year.

The GDP deflator can be calculated by using the formula;

GDP deflator = (Nominal GDP/Real GDP) × 100.

6 0
2 years ago
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