A gain or loss may be incurred if the sale or trade of an asset is greater than or less than the _________

A company’s past experience indicates that 60% of its credit sales are collected in the month of sale, 30% in the next month, an

Naddika [18.5K]

Answer:

$213,250

Explanation:

The calculation of cash inflow is shown below:-

Expected cash collections

For the month of June

Months Sales Percentage Expected collections

April $282,500 5% $14,125

May $213,750 30% $64,125

June $225,000 60% $135,000

Total collection in the month of June $213,250

Here we assume Sales for April$282,500, May $213,750 and June $225,000.

Please ignore the last value as it is not relevant to the question

4 0

2 years ago

What is scientific management

dybincka [34]

Answer: A management of a business industry or economy

Explanation:

3 0

2 years ago

Rock industries allocates manufacturing overhead at a predetermined rate of 160% of direct labor cost. Any overallocated or unde

nadya68 [22]

Answer:

Cost of goods manufactured for November.

Manufacturing Schedule Cost

Beginning Inventory (Job 205) $11,800

Direct materials $26,000

Direct labor costs $21,000

Applied Overheads ($21,000 x 160%) $33,600

Less Ending Inventory (Job 104) ($6,900)

Cost of Goods Manufactured $85,500

Journal entries to record the current month activity.

Debit : Work In Process $80,600

Credit : Direct materials $26,000

Credit : Direct labor costs $21,000

Credit : Applied Overheads ($21,000 x 160%) $33,600

Calculation of amount of over allocated or under allocated manufacturing overhead

Actual Manufacturing Overheads = $32,000

Applied Manufacturing Overheads = $33,600

Therefore, Overheads Over-applied = $1,600

4 0

2 years ago

"Find the amount of each payment to be made into a sinking fund which earns 7% compounded quarterly and produces $50 comma 000

Elodia [21]

Answer:

Quarterly deposit= $3,182.78

Explanation:

Giving the following information:

A sinking fund earns 7% compounded quarterly and produces $50,000 at the end of 3.5 years.

We need to find the quarterly deposit made at the end of each period.

First, we need to calculate the quarterly interest rate:

Interest rate= 0.07/4= 0.0175

To calculate the deposit, we need to use the following formula:

FV= {A*[(1+i)^n-1]}/i

A= quarterly deposit

Isolating A:

A= (FV*i)/{[(1+i)^n]-1}

n= 3.5*4= 14

FV= 50,000

i= 0.0175

A= (50,000*0.0175)/ [(1.0175^14)-1]= $3,182.78

3 0

3 years ago

Which of the following refers to the costs of production that fluctuate depending on the number of units produced? A. Total cos

Natalka [10]

Variable cost refers to the costs of production that fluctuate depending on the number of units produced.

<h3>Explanation:</h3>

The cost of any product that changes based on the quantity of goods that are produced. The volume that is produced decides the fluctuations in the variable cost. Fixed cost is the cost that will not change based on the number of units of the goods that is produced. Rent of a building can be considered as a fixed cost.

Example for variable cost may be raw materials cost, packaging cost,etc. Variable cost can be calculated by adding up the cost of labor and raw materials that are used in the production of one unit of a good. The total variable cost can be calculated by multiplying variable cost per unit with the number of units produced.

3 0

3 years ago

A gain or loss may be incurred if the sale or trade of an asset is greater than or less than the __________ value of the asset.