Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please show work and formulas used! 0) Future Company Incurs $1.80 per unit of variable selling and administrative expense and $102,950 per month in fixed

Please show work and formulas used!

image text in transcribed

0) Future Company Incurs $1.80 per unit of variable selling and administrative expense and $102,950 per month in fixed selling and administrative expense. Of the fixed expense, $19,880 relates to depreciation each month. Future company produced and sold 7,000 units in February and 6,000 units in March. 80% of a month's expense is paid for in the month incurred, and the other 20% is paid in the following month. How much would be the March cash disbursements for selling and administrative expense? (Answer: 94,230) a. $93,870 b. $114,110 c. $95,670 d. $94,230 00) Joann's has budgeted to make the following material purchases during the next four months: January $45,600 February $55,000 March $52,300 April $30,800 Joann's pays for 60% of the purchases in the month of purchase and 40% in the following month. Accounts payable at the end of March would be: a. $20,920 b. $39,400 C. $52,300 d. $30,800

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

P7 Advanced Audit And Assurance Q And A 2013

Authors: ACCA Simplified

1st Edition

1492716626, 978-1492716624

More Books

Students also viewed these Accounting questions

Question

Consider a cylinder of specific gravity S 111 L

Answered: 1 week ago