Please answer the following problems (see attached file for data)
During July, sales of $350,000 were made of which 20% were in cash. Credit customers paid $303 800 after deducting a 2% cash discount. How much did the trade receivables (debtors) owe to the business at 31 July?
A factory produces a product with a variable cost of $0.60 per unit. Fixed costs are $15000 per quarter, including rent of $6000 per quarter. If more than 20,000 units are made per quarter, additional space is required which increases the rent by 50%. What is the total cost per unit of producing 30 000 units in a quarter?
A job cost sheet showed the following estimates (see attached file). The job actually took 25% more labour hours than were estimated. What was the profit?© BrainMass Inc. brainmass.com June 4, 2020, 1:22 am ad1c9bdddf
Check the attached sheet.
A $ 15200 B $ 16000 C $ 22 200 D $ 76000
Solution: July Credit Sales = 350000*80% = 280,000
Gross Receivables for Cash Received = ...
The solution calculates amount of trade receivables; total cost per unit; net profit on job.