Two Woodworkers, Tom and Carlos, Bring in $100 for Making

question 45

Multiple Choice

Two woodworkers, Tom and Carlos, bring in $100 for making a table and $80 for making a chair. On average, Tom must work 3 hours and Carlos 2 hours to make a chair. Tom must work 2 hours and Carlos 6 hours to make a table. If neither wishes to work more than 42 hours per week, find the maximum income.

• A) $1,560
• B) $1,660
• C) $1,160
• D) $1,060
• E) $1,260

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Definitions:

Journal Entries

Journal entries are the recordings of financial transactions in the books of accounts, serving as the primary input in the accounting system.

Doubtful Accounts

Accounts receivable considered unlikely to be collected, prompting businesses to create allowances for bad debts.

Bad Debts Adjustment

An accounting entry made to account for invoices that are not expected to be collected due to customer default.

Accounts Receivable

Represents the money owed to a company by its customers for goods or services delivered but not yet paid for.