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I have to make certain of my accounting solutions? Help- thanks?
1) Harris Company creates a product whose price is $12. Presuming the organization utilizes a cost-plus prices system, what profit could be gained on the value set to earn an income margin of 20% of cost?
A. Two Dollars.40
B. $9.60
C. $12.00
D. $14.40
3) Cedar plank Furniture provided the next information highly relevant to its sales for December 2009 and also the first quarter of 2010:
12 ,, 2009
Credit Sales 60,000
Cash Sales 10,000
Jan2010 (Actual)
Credit Sales 140,000
Cash Sales 25,000
Allocated February
Credit Sales 155,000
Cash Sales 30,000
Allocated March
Credit Sales 110,000
Cash Sales 120,000
In line with the company's collection history, 2% of credit sales are uncollectible, 40% are collected in month of purchase and also the remainder is collected in later. Total allocated cash receipts in Feb 2010 are required to become
Pick one answer.
A. Thirty Dollars,000
B. $ 81,200
C. $114,000
D. $173,200
What were your solutions? I Quickly can check them for you personally.
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