All sales are made on account at $20 per unit. Sixty percent of the sales are collected in the month of sale; the remaining 40% are collected in the following month. Forecasted sales for the first five months of 20X2 are: January, 1,500 units,- February, 1,600 units; March, 1,800 units; April, 2,000 units; May, 2,100 units. 2. Management wants to maintain the finished goods inventory at 30% of the following month's sales.
The rugs sell for $2,000 each in the United States. a. What are the total labor costs involved in making these 12 rugs? (4 points) $24,000 - $990 = $23,010 This company makes $23,010 profit ever year. c. If a team of three workers in the United States, each making the federal minimum wage, produced these 12 rugs, what would the total labor costs be?
| | 6 | Purchased dry cleaning equipment for $36,000. Paid $14,000 in cash, the remainder to be paid in two weeks. | | 10 | Hired a worker, to be paid $550 per week. | | 17 | Paid the worker's weekly wage. | | 17 | Recorded cash received for services rendered during the week, $5,000.
What was Brady Brothers cash basis income? Cash basis income: $6,000 (cash received) - $5,000 (cash paid) = Answer: $1,000 Question 3: What was Brady Brothers accrual basis income? Accrual basis income: $12,000 (revenue earned) - $8,000 (expenses incurred) = Answer: $4,000 Question 4: Anderson Company’s balance sheet at the end of the year revealed the following information: Clients owe Anderson Company $35,300 for completed projects. Anderson Company owns office equipment totaling $95,500. Anderson Company owns $5,000 of material used on various client projects.
In the China plant, the rate of weekly output is 12 parkas per worker per week that is lower than Hong Kong plant (Hammond & Raman, 1994). The management of the company has allowed maximum 200 hours per year for overtime in the China plant. The actual labor hours for the production of one parkas are higher in the China plant that is 3.6 hours. The company has faced some challenges in the China plant that includes less quality and cleanliness conscious and requirement of training for works. On the basis of the examination of operations of China plant, it can be concluded that the company should provide training of multiple operations to workforce to improve the output rate.
6/ Pays rent of £4000 7/ Pays £3000 wages for the period a) Record each of the above transactions for the first week in the ledger accounts. Question 2 The transactions of a business during the first week of trading are as follows: 1/ Mr Johnson opens a business bank account with £40000 of his own money. 2/ Buys equipment for £6000 on credit from Mr Sort 3/ Purchases goods at a cost of £17000, paying by cheque 4/ Sells goods for £19000. The customer pays by cheque immediately. 5/ Pays a cheque for £5000 to Mr Sort.
Supplies on January 1, were $11,000 and $5,000 of supplies were purchased during the year. Net income for the year was $8,000 and drawings were $6,000. Instructions Determine the following: (Show all computations.) 1. Supplies used during the year.
We make 30,000 of these fire extinguishers per year. Each extinguisher requires one handle (assume a 300 day work year for daily usage rate purposes). Assume an annual carrying cost of $1.50 per handle; production setup cost of $150, and a daily production rate of 300. What is the optimal production order quantity? (4 points) Problem 4: We need 1,000 electric drills per year.
The Clean Clothes Laundry Corner Shawn Morris MG585 - Managerial Decisions September 20, 2013 Dr. John Theodore The Clean Clothes Laundry Corner (A) What is Molly’s current monthly volume? Molly’s fixed costs are $1,700 per month, and her variable costs are $0.25 per item, in which Molly is charging $1.10 per clothing item. Molly’s current monthly volume is 2,000 items. The answer was derived by using the following equation: $1,700 ÷ (1.1 – $0.25) = 2000 (B) If Molly purchases the new equipment, how many additional items will she have to dry-clean each month to break even? Using information given in question C, the $16,200 in new machinery will be divided up over 36 months.
Assume that, on the average, each worker is paid $25,000 per year and is responsible for producing 30,000 packages. Inventory costs have been estimated to be 4 cents per package per year, and shortages are not allowed. Based on the effort of interviewing and training new workers, Farmer Grey estimates that it costs $500 for each worker hired. Severance pay amounts to $1,000 per worker. a.