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A company's history indicates that 20% of its sales are for cash and the rest are on credit. Collections on credit sales are 20% in the month of the sale, 50% in the next month, 25% the following month, and 5% is uncollectible. Projected sales for December, January, and February are $60,000, $85,000 and $95,000, respectively. The February expected cash receipts from all current and prior credit sales is:
Assuming that this activity is within the relevant range, illustrate what is the total expected cost if the activity level is 17,300 machine hours?
The actual production is 200 units and 52 kilos of materials are used at a price of £98 per kilo. - Calculate all the material variances and discuss the possible reasons for them.
Prepare the journal entry to record amortization expense for 2010. Prepare the intangible assets section of Montana Matt's Golf Inc. at December 31, 2010. (No impairments are required to be recorded in 2010.)
A company has the opportunity to sell 1,000 extra units of product to a new customer outside the US. The price at which this sale can be made is $95 per unit. The normal price is $125. The standard cost is $75 of variable costs plus $25 of fixed cost..
Calculation of payback period of the project and comment on its liquidity and Use the payback method to calculate how many years it will take for each project to recoup the initial investment, Which project would you consider most liquid?
Sanford Co. sells $515,700 of 10% bonds on March 1, 2014. The bonds pay interest on September 1 and March 1. The due date of the bonds is September 1, 2017. The bonds yield 12%. Prepare all of the relevant journal entries from the time of sale until ..
What is adjusting entries and why is Delay for preparing the financial statement and financial entries. Define criticism
Calculate depreciation expense per mile under units-of-activity method - depreciation method for each bus, and various methods were selected. Information concerning the buses is summarized below.
Sara decides to set up retirement fund by depositing $1500 at the end of each month for 40 years. How much will she have then, if the interest rate is 8% compounded semiannually?
What are adjusting entries and why are those necessary? When do you prepare adjusting entries? Will you ever make an adjusting entry involving Cash account?
061683RR - PLANNING, PERFORMANCE. Last year, the House of Orange had sales of $826,650, net operating income of $81,000, and operating assets of $84,000 at the beginning of the year and $90,000 at the end of the year. What was the company's turnov..
Rooney Small Engine Repair charges $42 per hour of labor. It has a material loading percentage of 40%. On a recent job replacing the engine of a riding lawnmower, Rooney worked 10.5 hours and used parts with a cost of $700.
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