Moonlight Company wrote off the account of one of its customers, X, in 2018 for $500. On January 21, 2019, X unexpectedly repaid his account in full. The company uses the direct write-off method to account for uncollectible receivables. Journalize the entries required for Moonlight Company on January 21, 2019. Omit explanations.
What will be an ideal response?
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The following frequency distribution shows the GMAT scores of a sample of MBA students: GMAT ScoreFrequency 300 up to 4002 400 up to 5006 500 up to 6005 600 up to 7005 700 up to 8002 ? For the above data, compute the mean GMAT score.
What will be an ideal response?
Processing functions in a just-in-time system can be referred to as all of the following except ________
a. cost areas b. manufacturing cells c. work centers d. All of the choices refer to processing functions in a just-in-time system.
Cook's Pantry Appliances, a retail store, must use reasonable care on its premises to warn its patrons of
a. all risks. b. hidden risks. c. obvious risks. d. no risks.
Vargis Corporation has a machining capacity of 200,000 hours per year. Utilization of capacity is normally 75%; it has been as low as 40% and as high as 90%. An analysis of the accounting records revealed the following selected costs:?At a 40% Utilization RateAt a 90% Utilization RateCost A:?? Total$440,000$440,000 Per hour$5.50?Cost B:?? Total?$1,944,000 Per hour$10.80$10.80Cost C:?? Total$680,000$1,330,000 Per hour$8.50$7.39Vargis uses the high-low method to analyze cost behavior.Required: A. Classify each of the costs as being either variable, fixed, or semivariable.B. Calculate amounts for the two unknowns in the preceding table.C. Calculate the total amount that Vargis would expect at a 75% utilization rate for Cost A, Cost B, and Cost
C.D. Develop an equation that Vargis can use to predict total cost for any level of hours within its range of operation. What will be an ideal response?