Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please help me with question 59 Uncle's Caps Inc., a merchandising company has provided the following budgeted amounts for the next budget period. A minimum

image text in transcribedplease help me with question 59

Uncle's Caps Inc., a merchandising company has provided the following budgeted amounts for the next budget period. A minimum cash balance of $250,000 is required to be maintained. The company can borrow in increments 510,000 as and when required. Assume the company can borrow the needed funds at the end of the period. Calculate the ending cash balance for the budget period. $250, 600 $540, 230 $320, 300 $300,000 Which of the following will be classified as a conversion cost?________ cost of raw materials depreciation on office furniture depreciation on factory equipment salary of sales personnel Bilkins Financial Advisors provides accounting and finance assistance lo customers in the retail business. Bilkins has four professionals on staff, plus an office with six clerical staff. Total compensation, including benefits, for the professional staff runs about $754,000 per year, and it normally has about 8,000 billable hours per year. Professional staff keeps detailed time sheets organized by client number. The total office and administrative costs for the year is $576,000. Bilkins allocates professional time and office and administrative costs to clients monthly, using allocation rates based on billable hours. During July, Bilkins' professionals spent 36 hours on their client, Soupy Sales. Bilkins adds a 25% markup on their costs to calculate the amount billed to the customer. How much should the company charge Soupy Sales for the month of July? (Round your intermediate calculations to two decimal places.) $5, 985.00 $7, 481.25 $6, 633.00 $6, 853.25 The Refining Department of Sweet Sugar Inc. had 55,000 tons of sugar to account for in December. Of die 55,000 tons, 45,000 tons were completed and transferred to the Boiling Department, and the remaining 10,000 tons were 60% complete. The materials required for production are added at the beginning of the process. Conversion costs are added equally throughout the refining process. Calculate the total equivalent units of production for conversion costs. 51,000 units 55,000 units 45,000 units 6,000 units FALSE. Write T if the statement is true and 'F' if the statement is false. Factory rent, taxes, and insurance are included in manufacturing overhead

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Audit Risk In The Operation Of EDF Financed Projects

Authors: Koffi Rufin Kouame

1st Edition

6205912651, 978-6205912652

More Books

Students also viewed these Accounting questions

Question

What is the value of x if X 0 X = 9?

Answered: 1 week ago

Question

Types of Interpersonal Relationships?

Answered: 1 week ago

Question

Self-Disclosure and Interpersonal Relationships?

Answered: 1 week ago