Answer:
The difference is 22.34 days which results in late payments
Explanation:
For computing the DSO we have to compute the accounts receivable turnover ratio which is shown below:
Accounts receivable turnover ratio = Credit sales ÷ average accounts receivable
= $325,000 ÷ $60,000
= 5.42 times
and the average collection period in days = Total number of days in a year ÷ accounts receivable turnover ratio
= 365 days ÷ 5.42 times
= 67.34 days
Actual credit period is given is 45 days
But the resulted days are 67.34 days
So, the difference is 22.34 days which results in late payments
Answer:
$500 favorable
Explanation:
Given;
Number of units produced = 10,800 units
Actual indirect material costs = $13,000
Reflected indirect material costs for 144,000 units = $180,000
Now,
Per unit reflected indirect material costs = $180,000 ÷ 144,000
= $1.25 per unit
Therefore,
Budgeted indirect material cost for actual units produced
= $1.25 × 10,800
= $13,500
since,
the budgeted cost for indirect material cost for actual units produced is more than the actual indirect material cost, therefore
the indirect material costs in October is favorable
amount = Budgeted cost - Actual cost
= $13,500 - $13,000 = $500 favorable
Answer:
It is more convenient to sell the units unfinished by $500.
Explanation:
Giving the following information:
Units= 1,000
Unfinished:
Selling price= $4.00 per unit.
Complete:
Incremental costs= $1.00 per unit for direct materials, $2.00 per unit for direct labor, and $1.50 per unit for overhead
Selling price= $8.00 each.
We need to calculate the gross profit of each option and choose the more convenient:
Unfinished:
Gross profit= 1,000*4= $4,000
Complete:
Gross profit= 1,000*(8 - 4.5)= $3,500
It is more convenient to sell the units unfinished by $500.
Answer:
a, Journal Entries to record transactions
Account Titles Debit Credit
Cash $5,412.36
Cash Short and Over $0.71
($5,413.07 - $5,412.36)
Sales $5,413.07
The actual cash in cash register is debited to cash account and cash receipts per cash register tally is credited to sales account and the balancing figure is debited or credited to Cash short and over account.
b. Journal Entries to record transactions
Account Titles Debit Credit
Cash $3,712.95
Cash Short and Over $0.79
(3,712.95 - 3,712.16)
Sales $3,712.16
Answer:
The correct answer is option (B) Value-stream mapping is a variation of time-function mapping.
Explanation:
Solution
The value stream mapping is refereed to as the variation of time-function mapping.
This mapping shows the areas in a process where values are added or not added, so as to bring the productivity in the process.
In Informational and material flow of a production process, values are also included with it.
