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3 years ago

EB11.

Business

1 answer:

Zarrin [17]3 years ago

3 0

Answer:

Q. Gear Up Co. pays 65% of its purchases in the month of purchase, 30% in the month after the purchase, and 5% in the second month following the purchase. What are the cash payments if it made the following purchases in 2018?

February 2018 $90,000, March 2018 92,000, April 2018 101,000, May 2018 98,000, June 2018 99,500.

Answer) $440,775

Explanation:

Cash payments to be made in 2018 for the purchases given in question are:

Feb 2018 Mar 2018 Apr 2018 May 2018 June 2018

Cash Payments

65% of $90,000 58,500

30% of $90,000 27,000

5% of $90,000 4,500

65% of $92,000 59,800

30% of $92,000 27,600

5% of $92,000 4,600

65% of $101,000 65,650

30% of $101,000 30,300

5% of $101,000 5,050

65% of $98,000 63,700

30% of $98,000 29,400

65% of $99,500 64,675

Total $58,500 $86,800 $97,750 $98,600 $99,125

Total payments in 2018=$440,775

(58,500+86,800+97,750+98,600+99,125)

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Explanation:

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3 years ago

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b. Use the two production department factory overhead rates to determine the factory overhead per unit for each product.

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Pattern Department $2.00 $2.50 $3.00

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Pattern Department overhead $135,000

Cut and Sew Department overhead $227,800

Total $362,800

Pattern Department 2,700 direct labor hours

Cut and Sew Department 3,400

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Overhead rate per hour:

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