Answer:
The Carolina Christmas Tree Corporation’s total revenue is $32,500.
Explanation:
The total supply of Carolina Christmas Tree Corporation (Q) = 500
The selling price of a tree (P) = $65
The total revenue (TR)of Carolina Christmas Tree Corporation = Total supply (Q) * Selling price of a tree (P)
TR = 500 * $65 = $ 32500
Therefore, the answer to the given question is option C = $ 32,500
Answer:
The unit cost for materials and conversion is $17.08 and $13 respectively
Explanation:
The computation of per unit cost is shown below:
For material:
= (Material cost received + additional material cost) ÷ (equivalent units of material)
= ($7,000 + $78,400) ÷ (5,000 units)
= ($85,400) ÷ (5,000 units)
= $17.08
For conversion:
= (Conversion cost received + additional conversion cost) ÷ (equivalent units of conversion
= ($5,000 + $47,000) ÷ (4,000 units)
= ($52,000) ÷ (4,000 units)
= $13
Answer and Explanation:
The computation is shown below:
a The Due date
= (21 days in april + 31 days in may + 30 days in june + 31 days in july + 7 days in august
So the due date is August 7
b The maturity value is
= $450,000 + ($450,000 × 8% × 120 ÷ 360)
= $462,000
c The journal entry is
Cash $462,000
To Notes Receivable $450,000
To Interest Revenue $12,000
(Being the receipts of the payment of the note at maturity is recorded)