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Helen [10]
3 years ago
6

Superior Company has provided you with the following information before any year-end adjustments: Net credit sales are $131,750.

Historical percentage of credit losses is 3%. Allowance for doubtful accounts has a credit balance of $400. Accounts receivables ending balance is $43,500. What is the estimated bad debt expense using the percentage of credit sales method
Business
1 answer:
aleksklad [387]3 years ago
5 0

Answer:

$3,553

Explanation:

Credit losses = Net credit sales × Historical percentage of credit losses

= $131,750 × 3%

= $3,953

Allowance for doubtful account has a credit balance of $400

The estimated bad debt expense can therefore be calculated as:

Bad debt expense = Credit losses - Allowance for doubtful accounts credit balance

= $3,953 - $400

= $3,553

Hence, the estimated bad debt expense using the percentage of credit sales method is $3,553

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belka [17]

Answer:

b. $ 2,000 overapplied

Explanation:

Firstly, we need to determine the predetermined overhead rate based on direct labor costs.

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The total manufacturing overhead <u>applied</u> on direct labor costs of $ 208,000, is:

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Actual overhead costs incurred                                          <u>$ 362,000</u>

Manufacturing overhead over applied                              <u> $      2,000</u>

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3 years ago
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elena55 [62]
The answer to this question is: Risk
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Based on the given scenario in a situation were high number of consumer bought organic farmed fruit instead of conventional farmed fruit, this means that profit for conventional fruit will declined.

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