PLEASE ANSWER BOTH OF THE QUESTIONS PLS!!!!!!!!!!!!!!!!!!!!

The following budget information is available for the Arch Company for January Year 2: Sales $ 860,000 Cost of goods sold 540,00

igomit [66]

Answer and Explanation:

The computation of the total budgeted selling and administrative expenses is shown below;

Utilities expense $2,800

Administrative salaries $100,000

Sales commissions 5 % of sales i.e. 5% of $860,000 $43,000

Advertising $20,000

Depreciation on store equipment $50,000

Rent on administration building $60,000

Miscellaneous administrative expenses $10,000

total budgeted selling and administrative expenses $285,800

3 0

3 years ago

Johnson Company uses the allowance method to account for uncollectible accounts receivable. Bad debt expense is established as a

MArishka [77]

Answer:

1. The Bad debt expense for 2013 is $67,500

2. The amount of accounts receivable written off during 2013 is $69,500

3. If the company uses the direct write-off method, the bad debt expense for 2013 would be $69,500

Explanation:

1. In order toCalculate the bad debt expense for 2013 we would have to make the following calculation:

Bad debt expense=1.5% of Net Credit Sales

=1.5%×$4,500,000

=$67,500

The Bad debt expense for 2013 is $67,500

2. In order to Determine the amount of accounts receivable written off during 2013 we would have to make the following calculation:

amount of accounts receivable written off=$42,000+$67,500-$40,000

amount of accounts receivable written off=$69,500

The amount of accounts receivable written off during 2013 is $69,500

3. Using direct write off method, the bad debt expense is recognized only when the actual bad debt is incurred. The actual bad expense would be the amount of accounts receivable written off during the year. Accounts receivable written off during the year would be same in both the methods.

Thus, the bad debt expense for the year 2013 would be $69,500.

4 0

3 years ago

Please help need this done for class tomorrow!

Ivanshal [37]

Answer:

0.31

Explanation:

Income elasticity of demand measures the responsiveness of quantity demanded to changes in income

Income elasticity of demand = percentage change in quantity demanded / percentage change in income

Percentage change in income = $\frac{1000-300}{300}$ = 2.3

when income was $300, ramen was demanded twice, that is 2/7 times a week. converting to fraction gives 0.29

Percentage change in quantity = $\frac{0.5 - 0.29}{0.29}$ = 0.72

0.72/2.3 = 0.31

7 0

3 years ago

You are currently earning 12% (APR) compounded semiannually. Your investment company is switching all accounts to daily compound

Sav [38]

Answer:

The rate that will give the same effective annual rate of return is 0.033%.

Explanation:

a) Data and Calculations:

APR = 12%

Semi-annual compound rate = 6% (12/2)

Assumed calendar days in a year = 360 days

Effective daily rate of return = 12%/360 = 0.033%

b) The conversion of semi-annual compounding to daily compounding results in reduced rate of return. In this case, we assume that there are 360 days in a year. Since the APR = 12%, it means that the daily rate of return will be 12%/360, which is 0.033%.

6 0

3 years ago

Apex Corp. asks its consumers to determine how they perceive the similarities and dissimilarities among relevant product attribu

8_murik_8 [283]

Answer: (C) Perceptual mapping

Explanation:

The perceptual mapping is one of the type of technique that is used by the marketers for visually displaying the different types of perceptions of the consumers and the users.

It is also known as the market mapping technique that is used for the developing the various types of brands and the products in the market for based on the customer perspective.

According to the given question, the Apex corp. is using the perpetual mapping technique for determining the different types of product attribute in the market.

Therefore, Option (C) is correct answer.

6 0

3 years ago