Answer:
Option A is the correct answer
Explanation:
The cash received from customers can be computed using the formula as stated below:
Cash received=Sales+opening accounts receivable-closing accounts receivable
Cash received=$600000+$100000-$80000
Cash received=$620000
The above has been calculated on the premise that the customers are only owing $80000 as at the end of the year,which means $20000 has been paid from the $100000 owed at the beginning of the year.
Also,since the outstanding debt is only $80000, it means the sale amount of $600000 has also been settled in full,as a result $20000 plus $600000,gives $620000 total cash receipt
Answer:
Over-applied overheads= $54,800.00
Explanation:
<em>Overheads are charged to units produced by the means of using an estimated overhead absorption rate. This rate is computed using budgeted overhead and budgeted activity level.</em>
<em>As a result of this, overhead charged to total units product might be over or under absorbed compared to the actual amount incurred</em>.
Overhead absorption rate = budgeted Overhead/Budgeted labour hours
= $360,000/30,000 direct labour hour
<em>= $12 per hour</em>
<em>Absorbed overhead= OAR× actual labour hours</em>
= 12× 36,000
= 432,000.00
<em>Over absorbed(applied) overhea</em>d = is the difference between actual overhead and absorbed
$432,000.00 - $377,200
Over-applied overheads= $54,800.00
The statement is false. When goods are sold, their cost are transferred from finished goods to sold items.
Answer:
A. Market Basket Analysis.
Explanation:
Since Yolanda used market basket analysis to analyze what her customers buy together during a single store visit, she knows to place facial tissues by the cold medicine and Wonder bread by the Skippy Peanut Butter.
Market basket analysis is a modelling technique also known as frequent item-set mining or association analysis where we evaluate the purchases which routinely occur together. For example, people who buy peanut butter also purchased bread and normal butter as well. In this way, markers can plan what products should be placed on the same shelf or near to those shelves indie a store or what recommendations should be given to online buyers.
I think your answer would be B: Journal.
Adjusting entries are journal entries recorded at the end of an accounting period to alter the ending balances in various general ledger accounts. These adjustments are made to more closely align the reported results and financial position of a business with the requirements of an accounting framework, such as GAAP or IFRS. This generally involves the matching of revenues to expenses under the matching principle, and so impacts reported revenue and expense levels.