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n200080 [17]
2 years ago
6

Pristine products, a wholesaler, uses a periodic inventory system. at year-end, pristine conducts a physical inventory count to

determine
Business
1 answer:
k0ka [10]2 years ago
6 0
<span>how much of their company's merchandise is being sold, how much of it has been damaged, how much has gone out of style or is out of season. Once the inventory is taken, Pristine products should be able to project how much product needs to be manufactured and sold going forward so that they do not work at a loss of profits.</span>
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Gilbert's expects its September sales to be 20% higher than its August sales of $150,000. Manufacturing costs were $100,000 in A
sveticcg [70]

Answer:

$61,500.

Explanation:

Given that,

Beginning cash balance on September 1 = $7,500

Cash receipts from credit sales made in August:

= $150,000 × 70%

= $105,000

Cash receipts from credit sales made in September:

= ($150,000 × 1.20) × 30%

= $54,000

Cash disbursements from purchases made in August:

= $100,000 × 75%

= $75,000

Cash disbursements from purchases made in September:

= $120,000 × 25%

= $30,000

Ending cash balance September 30:

= Beginning cash balance + Cash receipts from credit sales made in August + Cash receipts from credit sales made in September - Cash disbursements from purchases made in August - Cash disbursements from purchases made in September

= $7,500  + $105,000  + $54,000  - $75,000  -  $30,000

= $61,500.

6 0
2 years ago
The country of Lessidinia has a tax system identical to that of the United States. Suppose someone in Lessidinia bought a parcel
Montano1993 [528]

Answer: -30%

Explanation:

The Nominal gain is:

= 100,000 - 20,000

= 80,000 foci

Tax on nominal gain:

= 20% * 80,000

= 16,000 foci

After tax nominal value of land:

= 100,000  - 16,000

= 84,000 foci

The real value given the price index is:

= 84,000 / 600 * 100

= 14,000 foci

After tax real rate of cap. gain:

= (14,000 - 20,000) / 20,000

= -30%

8 0
2 years ago
Woodcarving Co. incurred the following costs during May: Conversion costs $ 476,500 Prime costs 403,750 Manufacturing overhead 3
faust18 [17]

Answer:

The correct answer is C

Explanation:

With the following information, we need to calculate the direct materials and direct labor:

Woodcarving Co. incurred the following costs during May:

Conversion costs $ 476,500

Prime costs 403,750

Manufacturing overhead 320,500

We know that:

Conversion cost= direct labor + Manufacturing overhead

476500= direct labor + 320500

direct labor= $156000

Prime costs= direct materials + direct labor

403750= direct materials + 156000

direct labor= $247750

7 0
2 years ago
The defect rate for data entry of insurance claims at Sadegh Kazemi Insurance Co. has historically been about 1.50​%. This exerc
AURORKA [14]

Answer and Explanation:

Data provided in the question

defect rate i.e. \bar p = 1.50%

the sample size = n = 200

Now

S_p = \sqrt{\frac{\bar p (1 - \bar p)}{n} } \\\\= \sqrt{\frac{1.50\% (1 - 1.50\%)}{200} }

= 0.008595057

Now the 3 sigma control limits is

UCL_p = \bar p + 35p

= 0.015 + 3 (0.008595057 )

= 0.04078517

LCL_p = \bar p - 35p

= 0.015 - 3 (0.008595057 )

= 0

hence, the 3 sigma control limits are UCL 0.04078517 and LCL 0 respectively

7 0
2 years ago
Charlotte (age 40) is a surviving spouse and provides all of the support of her four minor children who live with her (all are u
Kipish [7]

Answer:

a. $58,000

b. $6,752

c. $9,000

Explanation:

a. The computation of taxable income is shown below:-

Taxable income = Salary - Short term capital loss + Cash Prize - Greater of Standard or itemized deduction for year 2018 (assumed)

= $80,000 - $2,000 + $4,000 - $24,000

= $58,000

b. The computation of tax liability is shown below:-

Tax liability (Surviving spouse) = ($1,940) + ($58,000 - $19,400) × 12%

=  $1,940 + $38,600 × 12%

= $1,940 + $4,632

= $6,572

c. The calculation of Charlotte's child and dependent tax credit is given below:-

= ($2,000 × 4) + ($500 × 2)

= $8,000 + $1,000

= $9,000

6 0
2 years ago
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