Answer:
The Total Budgeted Sales of May is $944,000
Explanation:
Budgeted sales are those sales which a business estimated in a particular period of time. While budgeting the future value company calculated the sales cost and other expenses to minimize the uncertainty and prepare for the future.
As per given data
In May
Budgeted sales Volume = 3,200 cookwares
Budgeted price per unit = $295
Budgeted Sale value = Budgeted Volume x Budgeted Sales price = 3,200 cookwares x $295 = $944,000
Cash Sales = $944,000 x 25% = $236,000
Credit Sales = $944,000 x 75% = $708,000
Answer:
the total factory overhead cost is $11,900
Explanation:
The computation of the total factory overhead cost is shown below:
= Indirect materials cost + Indirect labor cost + Maintenance of factory equipment
= $2,700 + $5,700 + $3,500
= $11,900
Hence the total factory overhead cost is $11,900
The same should be considered and relevant
Answer:
c) $22,000
Explanation:
Find the attachment below
Answer:
A. January 2016
B. May 2016
C. June 2016
Explanation:
Req. A
From the data table above, it is easy to understand that only 10,000 mobile phones were sold in the month of January.
Req. B
From the information above, the highest sales level was in the month of May with a 12,000 smartphones.
Req. C
We know, a monopolist maximizes its profit when marginal revenue equals to the marginal cost. MR = MC.
In that case, two months had equal marginal revenue = marginal cost, i.e., February and June.
According to the maximizing rule, at which point there are a high number of sales and MR = MC, that sales point is considered as maximizing profit.
Therefore, in the month of June, the sales were high with 11,000 smartphones. Hence, June was the firm's maximizing profit.
Answer:
Ledger; journal.
Explanation:
Financial accounting is an accounting technique used for analyzing, summarizing and reporting of financial transactions like sales costs, purchase costs, account payables and receivables of an organization using standard financial guidelines such as Generally Accepted Accounting Principles (GAAP) and financial accounting standards board (FASB).
Thus, it is a field of accounting involving specific processes such as recording, summarizing, analysis and reporting of financial transactions with respect to business operations over a specific period of time. Financial experts or accountant uses either the cash basis or accrual basis of accounting.
A general journal is used for initially recording a transaction before it's then subsequently transferred or posted to the general ledger. In Financial accounting, this process of transferring information about a transaction from the general journal to the general ledger is known as posting.
Furthermore, the main purpose of a general ledger is to list all accounts used in recording an organization's transactions and as such it contains a list of transactions affecting each account and the account's balance.
The page number of the account debited or credited in the journal is written in a posting reference of a ledger and it usually serves as a link to cross-reference or juxtapose the transaction from one record to another in a business firm.
