Answer:
$528,440
Explanation:
For computing the amount of inventory under LIFO method, first we have to determine the December 31 value based on the cost index which is shown below:
= Inventory value on January 1, 2021 × cost index
= $514,000 × $1.04
= $534,560
The difference would be
= $549,000 - $534,560
= $14,440
This amount reflect the increase in value
So, the inventory would be reported at
= Inventory value on January 1, 2021 + increase value
= $514,000 + $14,440
= $528,440
Because if it is a private loan people will not believe you because you will have no proof to sue them
Answer:
Direct material price variance
= (Standard price - Actual price) x Actual quantity purchased
= ($2.2 - $2.10) x 80,000 units
= $8,000 (F)
Actual price = <u>Actual material cost</u>
Actual quantity purchased
= <u>$168,000</u>
80,000 pounds
= $2.10
Direct material quantity variance
= (Standard quantity - Actual quantity used) x Standard price
= (77,500 - 80,000) x $2.20
= $5,500(A)
Standard quantity = 31 pounds x 2,500 planters = 77,500 pounds
Explanation:
Direct material price variance is the difference between standard price and actual price multiplied by actual quantity purchased. The actual price is obtained by dividing the actual cost of material by the actual quantity purchased.
Direct material usage variance is the difference between standard quantity and actual quantity used multiplied by standard price.
The standard quantity is obtained by multiplying the standard quantity for each planter multiplied by the number of planter produced.
Answer:
the correct answer is
First, the sale price is 115% of the appraised value, so the appraised value is $230,000 / 115%, or $200,000. The lender will lend $140,000 (70% of appraised value), so the investor will have to come up with $90,000 ($230,000 - $140,000).
good luck
