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ASHA 777 [7]
2 years ago
9

The following information was used in reconciling the bank account for Minerva Company on October 31: Balance per bank, October

31 $36,640 Insufficient funds check 1,400 Outstanding checks 1,800 Utility bill paid by bank 1,240 Check printing charge 80 Deposits in transit 2,440 Balance per books, October 31 40,000 Calculate the Adjusted Book Balance on October 31.A $37.280.B. $37.680.C. $36.080.D. $33,440.
Business
1 answer:
Strike441 [17]2 years ago
3 0

Answer: A $37.280.

Explanation:

Adjusted book balance will include those transactions made or charged by the bank for/to the company so will include;

= Balance per books - Insufficient funds check - Utility bill paid by bank  - Check printing charge

= 40,000 - 1,400 - 1,240 - 80

= $37,280

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A thesaurus unlike a dictionary that gives meaning of words, suggests choice words based on each given entry.

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3 years ago
Explain how and why governments may want to regulate the price setting of a natural monopoly.
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The government wants to protect the consumer's interest, that is why they are regulating the monopoly. Monopolies have the power to set higher prices than the competitive market. They regulate monopolies to prevent excess prices, quality of service( to ensure the firm receives minimum standard of service), monopoly power,promote competition, and natural monopolies( we cannot encourage competition, and it is essential to regulate firm to prevent monopoly of power). <span />
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ABC is a Medicare Advantage (MA) plan sponsor. It would like to use its enrollees’ information to market non-health related prod
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Answer is given below

Explanation:

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3 years ago
Read 2 more answers
A foreign company (whose sales will not affect cornish's market) offers to buy 3,000 units at $17.00 per unit. in addition to va
Marianna [84]

Trescott company had the following results of operations for the past year:

Sales (20,000 units at $22) $440,000

Direct materials and direct labor $200,000

Overhead (40% variable) 100,000

Selling and Administrative expenses (all fixed) 92,000 (392,000)

Operating income $ 48,000

A foreign company (whose sales will not affect Trescott's market) offers to buy 3,000 units at $17.00 per unit. In addition to the variable manufacturing costs, selling these units would increase fixed overhead by $500 and selling and administrative costs by $1,000. If Trescott accepts the offer, its profits will increase (decrease) by:

Answer : If Cornish accepts this order, its profits will increase by $13,500.

<u>Calculation of Variable Costs per unit :</u>

Direct Material and labor per unit = Total Direct Material and labor / No. of units sold

Direct Material and labor per unit =200000/20000 = $10

Variable Overhead per unit = Total Variable Overhead / No. of units sold

Variable Overhead per unit = (100000*0.4)/20000 = $2

Variable Cost per unit = $12 (Direct Material and labor per unit + Variable Overhead per unit)

Selling price of new order = $17 per unit

No. of units = 3,000

Increase in Fixed Costs = Inc in fixed overhead + inc in S&A Expenses

Increase in Fixed Costs = $1500 (500 + 1000)

Total Cost of new order = (Variable Cost per unit * No. of units) + Increased Fixed Cost

Total Cost of new order = (12*3000) + 1500 = $37,500

Total Revenues from new order = Selling price per unit * No. of units sold

Total Revenues = $51,000 (17 *3,000)

Profit from new order = Total Revenues from new order - Total Cost of new order

Profit from new order = 51000 - 37500 = $13,500

6 0
3 years ago
Weighted Average Method, Unit Cost, Valuing Inventories Applegate Enterprises produces premier raspberry jam. Output is measured
iris [78.8K]

Answer:

1. 780,000 pints

2. $1

3. $780,000

Explanation:

1. The computation of the equivalent units of production is shown below:

= Units completed and transferred out + completed units in ending inventory  × completion percentage

= 700,000 pints + 200,000 pints × 40%

= 780,000 pints

2. The computation of the unit cost for January month is shown below:

= (Beginning Work in process + Costs added during January) ÷  equivalent units

= ($156,000 + $624,000) ÷ (780,000 pints)

= $1

3. The computation of the assigned units is shown below:

= Units completed and transferred out × unit cost + completed units in ending inventory  × completion percentage × unit cost

= 700,000 pints  × $1 + 200,000 pints × 40% ×$1

= $780,000

3 0
3 years ago
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