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lozanna
1 month ago
11

McLeod Fries, Inc. has budgeted sales for June and July at $670,000 and $770,000, respectively. Sales are 85% credit, of which 6

0% is collected in the month of sale and 40% is collected in the following month. What is the budgeted Accounts Receivable balance on July 31? $308,000 $261,800 $227,800 $654,500
Business
1 answer:
stepan [3.5K]1 month ago
8 0

Answer:

Accounts receivable as of July 31 = $261,800

Explanation:

The information for June is not needed since it's stated that 60% is collected in the sale month and 40% is collected in the following month. Therefore, by July 31, all sales from June will have been collected and are not outstanding.

July credit sales = 85% * $770,000 = $654,500

Amount collected in July (60%) = 60% * $654,500 = $392,700

Receivables as of July 31 = $654,500 - $392,700 = $261,800

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Taylor Industries had a fire and some of its accounting records were destroyed. Available information is presented below for the
Scilla [3833]

Answer:

Materials inventory on December 1 recorded at $9,900

Direct Labor recorded at $40,040

Factory Overhead noted at $60,060

Cost of goods sold was $117,000

Explanation:

Materials inventory on December 1 equals $9,900

Direct materials acquired total 28,000

Materials inventory by December 31 amounts to $15,000

Direct materials utilized is 22,900

Direct Labor summed to $40,040

Factory Overhead totaled $60,060

Conversion Costs total $100,100

Overall Manufacturing Costs amounted to $123,000

Work in process inventory has risen by $12,000

Cost of goods manufactured is reported at $135,000

Finished goods inventory has decreased by $18,000 over the year

Cost of goods sold is $117,000

Calculating

Conversion costs are calculated as = Direct Labor + Factory Overhead

100,100 = 100 % + 150%

100,100= 100x + 150x

100,100= 250 x

x= 100,100/250

x= 400.4

Direct Labor = 100% * 400.4= $ 40,040

Factory Overhead = 150% * 400.4= $ 60,060

8 0
1 month ago
Butterfly tractors had $14 million in sales last year. cost of goods sold was $8 million, depreciation expense was $2 million, i
Free_Kalibri [3773]
A)
Ventas. 14
Costo de bienes vendidos. (8)
Depreciación. (2)
Intereses (1)
Beneficio neto antes de impuestos=3 millones
Impuesto. 0.35×3 = (1.05)
Ingreso neto= 1.95

Flujo de efectivo= ingreso neto+ depreciación
Flujo de efectivo=1.95+2=3.95

B)
Ingreso neto=1.95-1=0.95
Flujo de efectivo=3.95+1=4.95



5 0
2 months ago
Read 2 more answers
An economy produces only 1,000,000 computers valued at $2,000 each. Of these, 200,000 are sold to consumers, 300,000 are sold to
soldi70 [3635]

Answer:

$2.0 billion

Explanation:

The Gross Domestic Product comprises the total monetary value of all goods and services produced within a country over a defined time period.

The formula for GDP is

GDP = consumption + government spending + investment + (exports - imports)

200,000 units are sold to consumers

300,000 units are sold to businesses

300,000 units are sold to government entities

100,000 units are exported

100,000 units remain in inventory

GDP= {200,000 + 300,000 + 300,000 + 100,000 + (100,000 - 0)} * $2,000

GDP = 1,000,000 * 2000

GDP = $2 billion

4 0
2 months ago
A group of young patrons come into the venue after a sports event. They are loud and excited, celebrating a win for their team.
marusya05 [3725]

Las respuestas correctas para estas preguntas abiertas son las siguientes.

A) ¿Cómo respondes a estos clientes? Emite una advertencia al grupo para asegurarte de que conozcan el comportamiento esperado en el establecimiento.

Podría decir algo así:

"Buenas noches, caballeros. Bienvenidos a nuestro lugar. Un placer atenderles. Me gustaría pedirles amablemente que eviten hacer demasiado ruido para respetar a los demás clientes en la sala."

B) Uno de los clientes se dirige al bar para pedir varias jarras de bebida alcohólica premezclada para el grupo. Niega el servicio al cliente y explica por qué servir alcohol de esta manera es irresponsable.

Podría decir algo como:

"Señor, con todo respeto debo informar que este lugar tiene la política de no servir alcohol a clientes que no pidan comida. Por lo que le pido que comprenda esta política."

C) El cliente no está satisfecho por haberse negado el servicio y te presiona para que sirvas las jarras de alcohol. Más amigos del cliente se acercan al bar y comienzan a hacer un escándalo, hablando en voz alta para que todos en el lugar puedan escuchar. D) ¿Cómo respondes a esto?

Podría decir algo como:

"Caballeros, por favor, no hay necesidad de comportarse así. Estoy siendo muy respetuoso y ofreciendo una explicación razonable. Nuevamente, les pido que se calmen, o me veré obligado a llamar a seguridad. No es necesario hacer más grande esta situación. Por favor, tranquilícense. Permítanme ofrecerles algunos cócteles especiales sin alcohol. Es un obsequio."

E) Después de pedir a algunos de los clientes que abandonen el lugar, otros del grupo comienzan a sentirse molestos. Se están volviendo más agresivos y no crees que puedes manejar la situación por ti mismo. ¿Cómo respondes a esto?

Sollicitaría la presencia de nuestro equipo de seguridad y al mismo tiempo llamaría a la policía para informarles sobre la situación. No lo haría solo porque yo manejaría el incidente. Anteriormente, como parte de nuestros sistemas y procedimientos, un miembro de mi equipo tomaría estas consideraciones y sabría qué hacer en una situación como esta, encargándose de contactar a seguridad, y si las cosas se complican, contactar a la policía.

7 0
3 months ago
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