Ratchet Manufacturing anticipates total sales for August, September, and October of $200,000, $210,000, and $220,500 respectively. Cash sales are normally 25% of total sales and the remaining sales are on credit. All credit sales are collected in the first month after the sale. Compute the amount of accounts receivable to be reported on the company's budgeted balance sheet for August.
A. $50,000.
B. $150,000.
C. $200,000.
D. $52,500.
E. $157,500.
Answer: B
You might also like to view...
Vasilopoulos Corporation has two production departments, Casting and Assembly. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Casting Department's predetermined overhead rate is based on machine-hours and the Assembly Department's predetermined overhead rate is based on direct labor-hours. At the beginning of the current year, the company had made the following estimates:??CastingAssembly?Machine-hours17,00011,000?Direct labor-hours3,0006,000?Total fixed manufacturing overhead cost$119,000$51,000?Variable manufacturing overhead per machine-hour$2.10??Variable manufacturing overhead per direct labor-hour?$3.10During the current month the company started and finished Job A182. The following data
were recorded for this job:?Job A182:CastingAssembly?Machine-hours5020?Direct labor-hours1050?Direct materials$895$365?Direct labor cost$240$1,200Required:a. Calculate the estimated total manufacturing overhead for the Casting Department.b. Calculate the estimated total manufacturing overhead for the Assembly Department.c. Calculate the predetermined overhead rate for the Casting Department.d. Calculate the predetermined overhead rate for the Assembly Department.e. Calculate the total amount of overhead applied to Job A182 in both departments.f. Calculate the total job cost for Job A182.g. Calculate the selling price for Job A182 if the company marks up its unit product costs by 20% to determine selling prices. What will be an ideal response?
The doctrine of precedent is binding on all courts from county courts to the U.S. Supreme Court
Indicate whether the statement is true or false
The use of the _____ operator allows you to compare a single value with a list of values returned by the first subquery (sqA) using a comparison operator other than EQUALS
Fill in the blank(s) with correct word
On October 1, 2018, Eagle Company forecasts the purchase of inventory from a British supplier on February 1, 2019, at a price of 100,000 British pounds. On October 1, 2018, Eagle pays $1,800 for a three-month call option on 100,000 pounds with a strike price of $2.00 per pound. The option is considered to be a cash flow hedge of a forecasted foreign currency transaction. On December 31, 2018, the option has a fair value of $1,600. The following spot exchange rates apply:DateSpot RateOctober 1, 2018$2.00 December 31, 2018 1.97 February 1, 2019 2.01 ?What is the amount of Adjustment to Accumulated Other Comprehensive Income for 2019 from these transactions?
A. $2,000. B. $1,000. C. $2,600. D. $1,600. E. $1,800.