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satela [25.4K]
2 years ago
14

Craigmont uses the allowance method to account for uncollectible accounts. its year-end unadjusted trial balance shows accounts

receivable of $104,500, allowance for doubtful accounts of $665 (credit) and sales of $925,000. if uncollectible accounts are estimated to be 4% of accounts receivable, what is the amount of the bad debts expense adjusting entry?
Business
1 answer:
marshall27 [118]2 years ago
3 0
<span>$104,500 * 0.04 = $4,180 - $665 = $3,515</span>
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3 years ago
Read 2 more answers
Product A is normally sold for $9.60 per unit. A special price of $7.20 is offered for the export market. The variable productio
Sophie [7]

Answer:

A. Differential Analysis dated March 16

                                    Reject            Accept

Sales revenue per unit  $0              $7.20

Variable production cost 0                5.00

Additional export tariff     0                 1.08

Total variable costs          0             $6.08

Net income                    $0                $1.12

B. The special order should be accepted.

2) Product B:

Revenue of $39,500

Variable cost of goods sold of $25,500

Variable selling expenses of $16,500

Fixed costs of $15,000

Operational loss $17,500

Differential Analysis of May 9

                                    Reject            Accept

Sales revenue             $0                $39,500

Variable costs:

Product                        $0                 25,500

Selling                          $0                  16,500

Fixed costs                  $15,000         15,000

Total costs                   $15,000      $57,000

Net loss                       $15,000       $17,500

B) Product B should be discontinued.

Explanation:

a) Data and Calculations:

Normal selling price per unit of Product A = $9.60

Special order price for the export market = $7.20

Variable production cost = $5.00 per unit

Additional export tariff = $1.08 ($7.20 * 15%)

Total variable production and export costs = $6.08

7 0
2 years ago
A company uses the following standard costs to produce a single unit of output. Direct materials 7 pounds at $0.60 per pound = $
Naddika [18.5K]

Answer:

Direct material price variance= $20,100 unfavorable.

Explanation:

Giving the following information:

Direct materials 7 pounds at $0.60 per pound = $ 4.20

During the latest month, the company purchased and used 67,000 pounds of direct materials for $.90 per pound to produce 10,000 units of output.

Direct material price variance= (standard price - actual price)*actual quantity

Direct material price variance= (0.60 - 0.90)*67,000= $20,100 unfavorable.

7 0
3 years ago
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