Question

In: Accounting

In the Month of March, Baldwin Corporation received orders of 165 units at a price of...

In the Month of March, Baldwin Corporation received orders of 165 units at a price of $15.00 for their product Buzz. Baldwin uses the accrual method of accounting and offers 30 day credit terms. Baldwin delivers 110 units in March and the balance of 55 units in April. They received payment for 55 units in March, 55 units in April, and 55 units in May. How much revenue is recognized on the March income statement from this order? How much in the April Income statement? (Answer in thousands)
Select: 1
$2,475 , 0
$1,650 , $825
0 , $2,475
$825 , $825

Solutions

Expert Solution

$1,650 , $825
Dear Student
Thank you for using Chegg
Please find below the answer
Statementshowing Computations
Paticulars Amount
Revenue to be recognised in March income statement = 110 * 15              1,650.00
Revenue to be recognised in April income statement = 55 * 15                  825.00

ekkarill92 answered 2 years ago
Next > < Previous

Related Solutions

In the Month of March, Digby Corporation received orders of 175 units at a price of...
In the Month of March, Digby Corporation received orders of 175 units at a price of $15.00 for their product Dim. Digby uses the accrual method of accounting and offers 30 day credit terms. Digby delivers 116 units in March and the balance of 58 units in April. They received payment for 58 units in March, 58 units in April, and 58 units in May. How much revenue is recognized on the March income statement from this order? How much...
In the Month of March, Digby Corporation received orders of 180 units at a price of...
In the Month of March, Digby Corporation received orders of 180 units at a price of $15.00 for their product Dome. Digby uses the accrual method of accounting and offers 30 day credit terms. Digby delivers 120 units in March and the balance of 60 units in April. They received payment for 60 units in March, 60 units in April, and 60 units in May. How much revenue is recognized on the March income statement from this order? How much...
In the Month of March, Chester received orders of 108 units at a price of $15.00...
In the Month of March, Chester received orders of 108 units at a price of $15.00 for their product Creak. Chester uses the accrual method of accounting and offers 30 day credit terms. Chester delivers 108 units in April. They received payment for 54 units in March, and 54 units in April. In the March income statement, how much revenue is recognized on the March income statement from this order? How much in the April Income statement? (Answer in thousands)...
Hughes Corporation produces and sells 10,000 units of perfume each month. The selling price is $40...
Hughes Corporation produces and sells 10,000 units of perfume each month. The selling price is $40 per unit and its variable expenses are $32 per unit. In considering whether to continue producing the perfume, it was determined that $70,000 of the $120,000 in monthly fixed expenses charged to the perfume division would not be avoidable even if the product was discontinued. If the perfume division is discontinued, what would the annual financial advantage (disadvantage) be for Hughes from eliminating this...
Let us suppose the demand at a firm is 200 units per month. The firm orders...
Let us suppose the demand at a firm is 200 units per month. The firm orders 80 units each time. How many times does the firm place an order per year? What is the average inventory level at this firm?
Sunland Company manufactures toy trucks. Orders for 7,600 trucks were received during March, with deliveries scheduled...
Sunland Company manufactures toy trucks. Orders for 7,600 trucks were received during March, with deliveries scheduled evenly throughout the month of April. Trucks are produced simultaneously in 9 manufacturing cells. Time available for production in each cell is 7 hours per day for 21 days during March. Calculate the takt time. (Round answer to 1 decimal place, e.g. 15.2.) Takt time .2 minutes per truck LINK TO TEXT At the end of the first hour of a day’s production, one...
The following information for Dorado Corporation relates to the three-month period ending September 30. Units Price...
The following information for Dorado Corporation relates to the three-month period ending September 30. Units Price per Unit Sales 520,000 $ 55 Beginning inventory 54,000 37 Purchases 495,000 43 Ending inventory 29,000 ? Dorado expects to purchase 245,000 units of inventory in the fourth quarter of the current calendar year at a cost of $44 per unit, and to have on hand 83,000 units of inventory at year-end. Dorado uses the last-in, first-out (LIFO) method to account for inventory costs....
1a. Lusk Corporation produces and sells 15,100 units of Product X each month. The selling price...
1a. Lusk Corporation produces and sells 15,100 units of Product X each month. The selling price of Product X is $21 per unit, and variable expenses are $15 per unit. A study has been made concerning whether Product X should be discontinued. The study shows that $72,000 of the $101,000 in fixed expenses charged to Product X would not be avoidable even if the product was discontinued. If Product X is discontinued, the company’s overall net operating income would: 1b....
The following information for Dorado Corporation relates to the three-month period ending September 30. Units Price...
The following information for Dorado Corporation relates to the three-month period ending September 30. Units Price per Unit Sales 455,000 $ 42 Beginning inventory 41,000 24 Purchases 430,000 30 Ending inventory 16,000 ? Dorado expects to purchase 180,000 units of inventory in the fourth quarter of the current calendar year at a cost of $31 per unit, and to have on hand 57,000 units of inventory at year-end. Dorado uses the last-in, first-out (LIFO) method to account for inventory costs....
Zoe Corporation has the following information for the month of March: Purchases $92,000 Materials inventory, March...
Zoe Corporation has the following information for the month of March: Purchases $92,000 Materials inventory, March 1 6,000 Materials inventory, March 31 8,000 Direct labor 25,000 Factory overhead 37,000 Work in process, March 1 22,000 Work in process, March 31 23,500 Finished goods inventory, March 1 21,000 Finished goods inventory, March 31 30,000 Sales 257,000 Sales and administrative expenses 79,000 Required: Prepare (a) a statement of cost of goods manufactured, (b) an income statement for the month ended March 31,...
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT