Average credit given by Pesh at a certain trading period to his debtors was 25 days, and the average money owed to Pesh by his debtors was $48,000. Her sales, before deducting sales returns, were $713,100, and her overhead expenses were $105,120. Determine the sales returns for this period.

Average credit given by Pesh at a certain trading period to his debtors was 25 days, and the average money owed to Pesh by his debtors was $48,000. Her sales, before deducting sales returns, were $713,100, and her overhead expenses were $105,120. Determine the sales returns for this period.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Definition Definition Indirect costs incurred while producing goods or services. Overhead costs cannot be directly attributed to products or services. Overhead includes indirect material cost, indirect labor cost, rent, utilities expenses, and depreciation. Since these costs directly affect the profitability of a company, managing overhead becomes an important task for management.

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