Answer and Explanation:
The adjusting entry is as follows
Sales return & allowances ($550,000 × 2%) $11,000
Refunds payable $11,000
(Being the recording of estimated sales return is done)
For recording this we debited the sales returns & allowances as it increased the sales return and credited the refund payable as it also increased the liabilities
January and February are the 2 worst months to make a large profit by selling french fries. The most sold are during September and November. These months are much warmer than January and February.
Answer:
- total product costs incurred to make 27,500 units = $25.10 x 27,500 = $690,250
- total period costs incurred to make 27,500 units = $15.10 x 27,500 = $415,250
- total product costs incurred to make 31,000 units = $25.10 x 31,000 = $778,100
- total period costs incurred to make 24,000 units = $15.10 x 24,000 = $362,400
Explanation:
Average Cost per Unit
- Direct materials $8.90
- Direct labor $5.90
- Variable manufacturing overhead $3.40
- Fixed manufacturing overhead $6.90
- Fixed selling expense $5.40
- Fixed administrative expense $4.40
- Sales commissions $2.90
- Variable administrative expense $2.40
Product costs include direct labor, direct materials, production supplies, and factory overhead. Product costs per unit = $8.90 + $5.90 + $3.40 + $6.90 = $25.10
Period costs include selling and administrative expenses. Period costs per unit = $5.40 + $4.40 + $2.90 + $2.40 = $15.10
Cage company had income of $350 million and average invested assets of $2,000 million. its return on assets (roa) is
The formula of return on assets is net income divided by average assets.
Given that the net income is $350 million, average asset is $2000
The answer is 0.0005
Answer:
The maintenance call will be for:
$20,000.
Explanation:
Operating a margin account means that the investor is permitted by her brokerage firm to buy securities with borrowed funds (or the broker's funds). The maintenance call is the requirement made on the investor with this margin account (by her broker) to raise additional funds to ensure that the margin account is fully funded when it has reduced in value. The investor with the above margin account is supposed to have a credit balance (equity) of $24,000.
