Answer:
d. 15.09
Explanation:
425,000 sales
52,500 AR
year of 365 days
<u>Days Sales Outstanding</u>
<u>Average days late</u>
45.09 - 30 = 15.09
in average customer pays within 45 days.
That is 15.09 days above the allowed credit period.
Answer:
Estimated manufacturing overhead rate (Meeting with clients)= $170 per hour
Explanation:
Giving the following information:
Activity Cost Pool - Total Cost - Total Activity
Researching legal issues $ 22,130 and 750 research hours
Meeting with clients $ 1,270,410 and 7,473 meeting hours
Preparing documents $ 93,490 and 5,850 documents
Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Estimated manufacturing overhead rate (Meeting with clients)= 1,270,410/7,473= $170 per hour
Answer:
Credit of $80,000
Explanation:
Big-Mouth Frog Corporation Calculation for Retained earnings
Using this formula
Retained earnings =Revenue- Expenses
Where,
Revenue =$200,000
Expenses =$180,000
Let plug in the formula
Retained earnings =$200,000-$180,000
Retained earnings =$80,000
Therefore when the Income Summary is closed to Retained Earnings, the amount of the credit to Retained Earnings will be $80,000
