Answer:
Kindly check explanation
Explanation:
Given the following :
Price per pound = $1.55
Raw material required = 0.75 pound
Transport cost by sea = $0.70
Monthly demand for each of the three colors = 3487
EOQ = √2DS / H
D = 3 * 12 * 3487 * 0. 75 = 94149
Total cost of purchase = 1.55 + 0.70 = 2.25
Setup cost (S) = $186
Holding cost = 32% * 2.25 = 0.72
EOQ = √(2*94149*186) / 0.72
= 6974.50
b. How frequently should the company order cotton?
Annual demand / EOQ
94149 / 6974.50
= 13.50 ;
12 months / 13.50 = 0.89 month
c. Assuming that the first order is needed on 1-Jul, when should SYM place the order?
Since lead time is 2 weeks, order should be made 2 weeks before : 17th June
d. How many orders will SYM place during the next year? (Round your answer to 2 decimal places.)
Annual demand / EOQ
94149 / 6974.50
= 13.50 times
e. What is the resulting annual holding cost? (Round your answer to the nearest whole number.)
Holding cost * EOQ /2
0.75 * (6974.50/2) = 2615.44
f. What is the resulting annual ordering cost?
Annual ordering cost $
Ordering cost * number of orders
$186 * 13.50 = $2,511
Answer:
$368
Explanation:
Bad debts also known as uncollectible expenses are the portion of the accounts receivable in accrual accounting that have to be written off as they are eventually not paid by the accounts receivable.
One of the ways of estimating bad debt is allowance method , which is expressing a bad expenses as a percentage of credit sales based on experience and past records.
Days past due balance % uncollectible
Current 11,000 1% 110
30-60 days 2,400 3% 72
61-90 days 1,700 6% 102
Over 90 days 840 10% 84
Total 368
Bad debt expenses to be recognized is $368
Heller Corporation should report a bad debt expense of $368,000 for the current period, calculated by adding the products of each A/R balance by its estimated percentage uncollectible.
The bad debt expense that Heller Corporation should report for the current period can be calculated by multiplying each A/R balance by the corresponding estimated percentage uncollectible, and summing these values. Here's a step-by-step process:
Add these numbers together to get the total bad debt expense: $110 + $72 + $102 + $84 = $368 (in thousands, so $368,000).
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Answer:
The correct answer is C. Cemex, the largest cement producer in Mexico, generates about half of its income from outside Mexico.
Explanation:
CEMEX is an international company for the construction industry, which offers products and services to clients and communities in more than 50 countries around the world. The Mexican company holds the third place in world sales of cement and is the main producer of ready-mix concrete, with a production capacity of approximately 77 million tons per year, serving the markets of America, Europe, Asia, Africa and the Middle East. 50% of the company's sales come from its operations in Mexico, 25% of its plants in the United States, 15% from Spain, and the rest from its plants in other parts of the world.
Cultural competence
ddddddddddddddddddddddddddddddddddddddddddddddddddddddddd
Revenue Expenses
(A) $18,600,000 $18,750,000
(B) $4,650,000 $ 4,687,500
(C) $4,650,000 $ 5,250,000
(D) $4,687,500 $ 4,687,500
Answer:
(C) $4,650,000 $ 5,250,000
Explanation:
total contract price is $ 18,600,000
season construction using percentage of completion method.
Amount of revenue & construction expense for the year ended december 31, 2020 will be
25% of $ 18,600,000 revenue = $ 4,650,000
25% of $ 18,750,000 total cost = $5,250,000
Balance, August 1 $9,369
Deposits during August $32,200 41,569
Note Collected for depositor, including $40 interest 1,040 42,609
Checks cleared during August $34,500 8,109
Bank Service Charges 20 8,089
Balance, August 31 8,089
The general ledger Cash account contained the following entries for the month of August.
Cash
Balance, August 1 10,050 Disbursements for August 35,403
Receipts during August 35,000
Deposits in transit at August 31 are $3,800, and checks outstanding at August 31 total $1,550. Cash on hand at August 31 is $310. The bookkeeper improperly entered one check in the books at $146.50 which was written for $164.50 for supplies (expense); it cleared the bank during the month of August.
Instrustions:
a. Preare a bank reconciliation dated August 31, 2010, proceeding to a correct balance.
b. Prepare any entries necessary to make the books correct and complete.
c. What amount of chas should be reported in the August 31 balance sheet?
a. The preparation of the bank reconciliation is shown below.
b. The entries are given below.
c. The amount of cash should be $10,649.
a. The preparation of the bank reconciliation is presented below.
Bank balance as per bank statement $8,089
Add: cash on hand $310
Add: deposit in transit $3.800
Less: outstanding checks $1,550
Adjusted balance $10,649
Balance as per cash book ($10,050 + $35,000 - $35,403) $9,647
Less: correction ($164.5 - $146.5) $18
Less: bank service charge $20
Add: note collected $1,040
Adjusted balance $10,649
b. The journal entries:
Cash $1,040
Note receivable $1000
Interest receivable $40
(Being collection od note & interest)
Bank charges $20
cash $20
(being bank charges are recorded)
Supplies expense $18
cash $18
(Being error in recording check)
c. The amount of cash should be $10,649.
Learn more about journal entry here: brainly.com/question/24345471
Answer:
Complete solution in tabular form is given below for better understanding and demonstration.