Answer:
$87.816
Explanation:
First you have to calculate the Oustanding receivables, that you can calculre with the next formula:
Oustanding receivables= Accounts recivable- Allowance for doubtful accounts
Oustanding receivables= 1.492.000 - 28.400
Oustanding receivables= 1.463.600
Now that you have the result have to multiply by the 6% to calculate the bad debt.
Bad debt = 1.463.600* 6%= $87.816
its the bad debt of Thompson Corporation's
Answer:
Wages payable $3,094.10
Explanation:
the journal entry used to record the employee's salary is:
February 28, wages expense:
Dr Wages expense 4,600
Cr Retirement plan contribution payable 460
Cr Federal income taxes withheld payable 644
Cr FICA (Social Security) taxes withheld payable 285.20
Cr FICA (Medicare) taxes withheld payable 66.70
Cr Health insurance payable 50
Cr Wages payable 3,094.10
The net pay = gross pay ($4,600) - retirement plan ($460) - federal income taxes ($644) - FICA ($351.90) - health insurance ($50) = $3,094.10
Answer:
1) 24.4%
2) 67.4%
Explanation:
The basis on which overheads are to be applied is considered under 'denominator' value.
1)
Numerator = Estimated factory $122,000
Denominator = Direct Labor $500,000
Overhead Rate = 122,000 / 500,000 = 0.244 ==> 24.4%
2)
Numerator = Estimated factory overhead $122,000
Denominator = Direct Material $181,000
Overhead Rate = 122,000 / 181,000 = 0.674 ==> 67.4%
At a price of $13, quantity demanded is 120 units<span>, quantity supplied </span>is 130 units; therefore,<span> excess supply</span> has occurred. This is also called as economic surplus. This is the effect when the price set to the product is above its equilibrium level which is determined by its supply and demand.<span> </span>
