Answered Essay: Sloppy Corporation makes and sells a single product called a Slop. Each Slop requires 1.1 direct labor-hours at $

Question9Sloppy Corporation makes and sells a single product called a Slop. Each Slop requires 1.1 direct labor-hours at $8.20 per direct labor-hour. The direct labor workforce is fully Not yet arawered adjusted each month to the required workload. The company is preparing a Direct Labor Budget for the first quarter of the year Points out ot 3 Fiag quetion The budgeted direct labor cost per Slop is closest to: Select one: oa $7.45 b.$8 20 O c. $9.02 d $9.76 Qunston 10 Lningston Manufacturing will open a new store on January 1. Based on experience from ts other retail outlets, Livingston Manufacturning is making the folowing sales Projections Not yer anawered Points out of Cash Sales Credit Sales S60$40 000 $30,000 $50.000 $40.000 $60.000 $40.000 $80,000 FFlag question January … February March April urgston Man tact in estimates that 70% of the crede sales wl be colected n the month blo ng the month of 11, ith e-ne the month of sale, with the balance collected in the second month leed n h-non following the month of sale Based on these data, the balance in accounts recenable on January 31 vwil be Select one $40 000 $28 000 c $12 000 d $58 000 Please double your answer

Sloppy Corporation makes and sells a single product called a Slop. Each Slop requires 1.1 direct labor-hours at $8.20 per direct labor-hour. The direct labor workforce is fully adjusted each month to the required workload. The company is preparing a Direct Labor Budget for the first quarter of the year. The budgeted direct labor cost per Slop is closest to: Select one: a. $7.45 b. $8.20 c. $9.02 d. $9.76 Livingston Manufacturing will open a new store on January 1. Based on experience from its other retail outlets, Livingston Manufacturing is making the following sales Projections. Livingston Manufacturing estimates that 70% of the credit sales will be collected in the month of sale, with the balance collected in the second month following the month of sale. Based on these data, the balance in accounts receivable on January 31 will be Select one a. $40,000 b. $28,000 c. $12,000 d. $58,000

Expert Answer

 

1.

Budgted direct labor cost per Slop=(1.1 direct labor hours/Slop*$8.2/direct labor hour)

=$9.02(C).

2.

Accounts receivable on January 31 would be the total value of credit sales made in the month of January ie

=$40,000(A).

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