Answer:
Days to collect receivables = 26 days
Explanation:
At the start Accounts Receivable = $10,000
Ending Accounts Receivable = $70,000
Credit Sales = $560,000
Average Accounts Receivable = ($10,000 + $70,000) / 2
Average Accounts Receivable = $40,000
Accounts Receivable Turnover = Credit Sales / Average Accounts Receivable
Accounts Receivable Turnover = $560,000 / $40,000
Accounts Receivable Turnover = 14
Days to collect receivables = 365 / Accounts Receivable Turnover
Days to collect receivables = 365 / 14
Days to collect receivables = 26 days
Yes I don’t know I’m tired
Answer:
C. Estimated warranty payable for $26,500.
Explanation:
The monthly sales are $530,000 and the warranty costs are 5% of monthly sales,
Therefore, Warranty costs will be = $530,000*5% = $26,500.
Now, we know that no defective products were returned during the current month, hence the other options in the questions are discarded and Estimated warranty payable is taken at the month end.
Thank buddy.
Good luck and Cheers.
Answer:
A. How much time would it take the two students to complete the project if they divide the two tasks equally?
- James needs 10 hours to complete half the task and Jane needs 16 hours to do her part = total work 26 hours
B. How much time would it take the two students to complete the project if they use comparative advantage and specialize in calculating or preparing slides?
- If they specialize, then Jane should do the calculations (12 hours) and James should prepare the slides (10 hours) = total work 22 hours
C. If James and Jane have the same opportunity cost of $5 per hour, is there a better solution than for each to specialize in calculating or preparing slides?
- Yes, Jane should pay James so that he does the whole work all by himself. Since James opportunity cost is $5 per hour, his total economic cost of doing the work is $100, and half of that is $50. Jane's economic cost of doing her part is $60 (= 12 x $5), so if she pays any amount lower than $60 and equal or higher than $50 to James, then they would both win.
Explanation:
50 powerpoint slides
James needs 10 hours to do the calculations and 10 hours to prepare the slides = 20 hours total / 2 = 10 hours
Jane needs 12 hours to do the calculations and 20 hours to prepare the slides = 32 hours total / 2 = 16 hours
James's opportunity cost of doing the calculations or preparing the slides is 10 / 10 = 1
Jane's opportunity cost of doing one hour of calculations is 20 / 12 = 1.67 hours of preparing slides.
Jane's opportunity cost of doing one hour of preparing slides is 12 / 20 = 0.6 hours of calculations.
I believe B a technical degree may be helpful, but not necessary to become a qualified home inspector
