Answer:
$1,280 million
Explanation:
The change between the opening inventory balance and the ending inventory balance for a period is as a result of the purchases of inventory and the sale of inventory during the period.
All of these elements are related as;
Opening inventory + purchases - cost of goods sold = ending inventory
As such, to estimate the merchandise inventory purchased,
let the purchase for the period be T
1500 + T - 880 = 1900 (All amounts in millions of $)
T = 1900 + 880 - 1500
= 1280
The merchandise purchases for the third quarter is $1,280 million.
Answer:
False.
Explanation:
Elasticity of demand is a measure of the responsiveness of changes in demand to change in price.
The value of elasticity shows type of good. Negative elasticity indicates that a good is inferior, and people will buy it when their income is low. But once income rises they will buy more luxurious goods. That is not the case here as elasticity is positive.
When elasticity is positive the good is a normal good and increase in income will result in increase in amount demanded of the good.
In the scenario give a positive elasticity of 0.45 should result in higher consumption among higher income people than lower income people.
Answer:
The net realizable value of Miller's receivables at the end of Year 2 was: $42,010
Explanation:
Open a Trade Receivable Account as follows :
Debits :
Revenue $133,000
Totals $133,000
Credits:
Cash $87,000
Balance $46,000
Totals $133,000
Note that Allowance for Doubtful debts is estimated at 3% of the Company`s Sales on Account
Allowance for Doubtful debts = $133,000 × 3%
= $ 3, 990
Net realizable value of Miller's receivables
Trade Receivable Balance $46,000
Less Allowance for Doubtful Debts $3,990
Trade Receivables $42,010
The net realizable value of Miller Company's receivables at the end of Year 2 is calculated by estimating bad debt and subtracting it from the ending accounts receivable. The estimated bad debt is 3% of sales, leading to a net realizable value of $42,010.
The question revolves around calculating the net realizable value of accounts receivable for the Miller Company at the end of Year 2. First, we need to calculate the estimated bad debt. The company estimates that 3% of its sales on account will be uncollectible, which equates to $133,000 * 0.03 = $3,990. After subtracting the cash collected from receivables, $133,000 - $87,000, we get ending accounts receivable of $46,000. Finally, we deduct the estimated bad debts from ending accounts receivable to obtain the net realizable value, which is $46,000 - $3,990 = $42,010.
#SPJ3
B. To demonstrate how supply affects demand.
sm
C. To indicate how supply and demand relate to price.
D. To show the level of demand at various prices.
SUBMIT
Answer:
a is your answer
Explanation:
Required:
1. What variable overhead cost should have been incurred to fill the orders for the 120,000 items? How much does this differ from the actual variable overhead cost?
2. Break down the difference computed (1) above into a variable overhead rate variance and a variable overhead efficiency variance.
Answer:
The correct answers are as follows:
Numbers of items shipped 140000
Standard Direct labor-hours 0.03
Total direct labor- hours allowed 140000*0.03
= 4200
Standard direct labor cost per hour $3.05
Total standard direct labor cost 3.05*4200
=$12810
Actual cost incurred $15900
total standard direct labor cost $12810
Total direct labor variance = $15900-12810
$3090 F
---------
2. Labor rate variance = (Actual rate - Standard rate) x Actual hours worked
((15900/5300)-3.05)*5300
265 U
Labor efficiency variance = (Actual hours - Standard hours) x Standard rate
(5300-140000*0.03)*3.05
3355 F
Answer:
The correct answer is letter "E": cash flow to stockholders.
Explanation:
The cash flow to stockholders is the amount of money a firm pays to its debtholders and stockholders. It is calculating by subtracting the dividends paid minus new equity -if raised any. The Board of Directors determines the amount and the period to be considered for the dividends and if they are paid from the organization's current earnings or the reserve revenues.
Answer: Indirect Lookup relationship
Explanation:
Indirect lookup relationship is used when there is no Salesforce ID in the external data. So this relationship basically links the external object which is the 'child' to the custom object which is the 'parent'.
As the question states, universal containers has included its orders as an 'external data object' into salesforce. Now it wants to create a link or relationship between accounts and orders objects. This is possible through indirect lookup relationship.