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ratelena [41]
3 years ago
10

Meadow Company produces hand tools. A sales budget for the next four months is as follows: March 10,500 units, April 13,600, May

16,600 and June 21,000. Meadow Company’s ending finished goods inventory policy is 10% of the following month’s sales. March 1 beginning inventory is projected to be 1,050 units. How many units will be produced in March?
Business
1 answer:
Novay_Z [31]3 years ago
5 0

Answer:

Units Produced in the month of March: 10,810 Units

Explanation:

Production for the month of march can be estimated using the following formula:

Productions units for the month of March = Projected Sales for the month + 10% of the following months's sales as ending inventory - Opening Inventory

Units Produced for the month                                                   Units

Projected Sales for the month                                                  10,500  

Add: 10% of the following month's sales as ending inventory   1,360

(13,600 x  10%)

Less: Opening inventory                                                           (1,050)

 

Units produced for the month of March                                  10,810  

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Better Corp. (BC) began operations on January 1, Year 1. During Year 1, BC experienced the following accounting events: 1. Acqui
makkiz [27]

Answer:

Better Corp. (BC)

a. Accounting Equation

Assets                =       Liabilities       +               Equity

1. Cash $7,000                                                   Common stock $7,000

2. Cash $12,000        Bank loan payable $12,000

3. Cash $47,000                                                Service Revenue $47,000

4. Cash ($30,000)                                              Op. expenses ($30,000)

5. Cash ($8,000)                                                Cash dividend ($8,000)

6. Land $20,000 Cash ($20,000)

Assets $28,000   =  Liabilities $12,000  + Equity $16,000

b. Total assets = $28,000

Total liabilities = $12,000

Stockholders' equity = $16,000

Balance Sheet as of December 31, Year 1

Assets:

Cash                     $8,000

Land                  $20,000

Total assets      $28,000

Liabilities:

Bank loan         $12,000

Equity:

Common stock $7,000

R/Earnings          9,000

Total equity    $16,000

Liabilities and

 Equity          $28,000      

c. Total assets = $28,000

Total liabilities = $12,000

Total equity = $16,000

d. The Land will be shown on the December 31, Year balance sheet at $20,000.  The reason is that this is the acquisition cost and the land is not held for trading (no information provided).

Explanation:

a) Data and Analysis based on the Accounting Equation:

1. Cash $7,000 Common stock $7,000

2. Cash $12,000 Bank loan payable $12,000

3. Cash $47,000 Service Revenue $47,000

4. Cash ($30,000) Operating expenses ($30,000)

5. Cash ($8,000) Cash dividend ($8,000)

6. Land $20,000 Cash ($20,000)

7 0
3 years ago
Delilah purchased a wheelchair with an installment loan that has an APR of 18 percent. The wheelchair sells for $2,007. The stor
alukav5142 [94]

Answer:

$748.48

Explanation:

Cost of wheelchair = $2,007

Down payment = Cost of wheelchair*20% = $2,007*20% = $401.40

Amount of finance = Cost of wheelchair - Down payment = $2,007 - $401.40 = $1,605.60

Interest rate = 18% * 1/12 = 1.5%per month

Term = 54 month

Monthly payment = Amount of finance*I/[1-(1+I)^-n]

Monthly payment =  $1,605.60*1.5%/[1-(1+1.5%)^-54]

Monthly payment = $1,605.60*1.5%/[1 - 0.447541]

Monthly payment = $1,605.60*0.015/0.55246

Monthly payment = $43.59411

Total amount paying for loan over a period = Monthly payment * Term = $43.59411 * 54 = $2354.08

Amount of finance charge = Total amount paying for loan - Amount of loan

Amount of finance charge = $2354.08 - $1,605.60

Amount of finance charge = $748.48

5 0
3 years ago
The set of values, attitudes, and ways of doing things that result from belonging to a certain ethnic, religious, or racial grou
777dan777 [17]

Answer: False

Explanation:

What a ethnic, religious and racial group shares in common is their beliefs or traditions.

Cognitive dissonance on the other hand is a conflict that occurs in an individual's mind as a result of new information contradicting what they already believe to be true.

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Recession cause standard monetary and fiscal effects.

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Furthermore, financial assets that get their value from contractual claims, such as stocks and bonds, are regarded as tangible assets.

An asset that is not physical in nature, such as a patent, brand, trademark, or copyright, is referred to as an intangible asset.

Intangible assets can be produced or purchased by businesses.

An intangible asset may be seen as definite or indefinite, such as a contract or legal arrangement (for example, a brand name).

A company's intangible assets do not appear on the balance sheet and do not have a documented book value.

Learn more about intangible asset here:

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3 0
2 years ago
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