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2 years ago

Mncs can use ____ to sell their existing accounts receivable as a means of obtaining cash.

1 answer:

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Mncs can use factoring to sell their existing accounts receivable as a means of obtaining cash.Factoring is a financial transaction and a type of debtor finance in which a business sells its accounts to a third party at a discount.It is usually used to meet the company's present and immediate cash needs.

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In a company's standard costing system direct labor-hours are used as the base for applying variable manufacturing overhead cost

ahrayia [7]

Answer:

Unfavourable and half the labour efficiency variance.

Explanation:

From the above, variable overhead efficiency variance would be favorable if actual hours worked are less than the standard hours allowed and unfavorable if actual hours worked are more than the standard hours allowed for actual output or production during the period.

In the other hand, variable overhead efficiency variance is the difference between actual hours worked at standard rate and standard hours allowed at standard rate. The standard hours allowed means standard hours allowed for actual output or production during a particular period.

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2 years ago

December 3 – Vogel Corporation sold inventory on account to Hatcher Corp. for $492,000, terms 1/10, n/30. This inventory origina

laiz [17]

Answer:

Journals :

December 3

Accounts Receivable :Hatcher Corp. $492,000 (debit)

Cost of Sales $309,000 (debit)

Sales Revenue $492,000 (credit)

Inventory $309,000 (credit)

Sold goods on credit to Hatcher Corp

December 8

Sales Revenue $3,200 (debit)

Inventory $2,010 (debit)

Accounts Receivable : Hatcher Corp. $3,200 (credit)

Cost of Sales $2,010 (credit)

Hatcher Corp. returned goods

December 12

Cash $43,920 (debit)

Discount allowed $4,888 (debit)

Accounts Receivable : Hatcher Corp. $488,800 (credit)

Payment received from Hatcher Corp and discount allowed recognized

Net Sales to be reported :

Net Sales = $483,912

Gross profit percentage ;

36.56 %

Explanation:

Payment made by Hatcher Corp is still within 10 days (the discount period) thus the customer is eligible for a cash discount calculated on the sales amount less returns as follows :

Discount allowed = $488,800 × 1%

= $4,888

Thus,

Net Sales = $492,000 - $3,200 - $4,888

= $483,912

Gross Profit Percentage = Gross Profit /Sales × 100

Where

Gross Profit = Sales - Cost of Sales

= $483,912 - ($309,000 - $2,010)

= $176,922

Therefore,

Gross Profit Percentage = $176,922/ $483,912 × 100

= 36.56 %

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2 years ago

Chelsea purchased her monthly grocery requirements instead of soccer game tickets for the championship match she wanted to see.

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She has chosen needs over wants.

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Which diagram(s) represent(s) how life roles can affect careers and lifestyles?

cupoosta [38]

Please attach diagrams

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Type the correct answer in the box. Spell all words correctly. Henry works at a newspaper agency. Here, he works with the editor

stepladder [879]

Answer:

Henry works at a newspaper agency. Here, he works with the editor to put fresh stories in the newspaper every day. This is necessary because, as each day passes, that day’s newspaper becomes old and redundant. Which quality of the newspaper is depicted here? The quality of the newspaper is highly depicted here.

Explanation:

There was nothing incorrect but i felt that being would be better if it was replaced with is

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2 years ago