Answer:
The appropriate answer is "$22,305".
Explanation:
The given values are:
Estimated uncollectible,
= $22,750
Credit balance in allowance,
= $445
Now,
The bad debt expense will be:
= 
By substituting the values, we get
= 
= 
($)
Answer:
$204,000
Explanation:
Given that
Total manufacturing costs = $320,000
Manufacturing overhead = $52,000
Direct materials = $64,000
The computation of direct labor cost is shown below:-
Direct labor cost = Total manufacturing costs + Manufacturing overhead + direct materials
= $320,000 - $52,000 - $64,000
= $204,000
Therefore for computing the direct labor cost we simply applied the above formula.
Answer:
Annual depreciation = $44,400
Explanation:
Given,
Purchase price of the delivery van = $111,000
Salvage value = $11,400
Useful Life = 5 years
We know that
annual depreciation under double declining balance (%) = (100%/useful life)*2
Putting the value in the formula, Annual depreciation (%) = (100%/5)*2
= 40%
Annual depreciation = Purchase Price*Percentage of annual depreciation
Annual depreciation = $111,000*40% = $44,400
Answer:
Insurance is the procedure by which persons or companies exposed to a specific risk agree with an institution specializing in compensation for damage that the institution will indemnify the damage caused when the risk materializes. The resulting contract is called insurance.
From a commercial point of view, insurance can be defined as the means by which the cost of incidental damage can be converted evenly into a continuous annual cost on an annual basis.
