when valuing raw materials inventory at lower-of-cost-or-market, what is the meaning of the term market Replacement cost, Net realizable value, or Net realizable value less a normal profit margin.
<h3>
What is Replacement cost?</h3>
- The cost to replace a critical asset, such as a piece of real estate, an investment security, a lien, or another object, with one of equal or greater worth is referred to as replacement cost.
- A replacement cost, which is often referred to as "replacement value," can change depending on a variety of variables, including the cost of preparing assets for use and the market worth of the parts needed to rebuild or repurchase the asset.
- Replacement costs are frequently used by insurance companies to calculate the value of an insured item. Accountants, who use depreciation to expense the cost of an asset over its useful life, also regularly employ replacement costs.
To learn more about Replacement cost with the given link
brainly.com/question/15046979
#SPJ4
Answer:B - $80
Explanation: Producer surplus is the difference btw what a consumer is paying and what a producer is charging.
From the above questions, Tom tuned the following pianos:
Buyer willing to pay $155.
Tom tuned piano 1 for $120, therefore his surplus on piano 1 is $155 - $120 = $35
Tom tuned piano 2 for $125, therefore his surplus on piano 2 is $155 - $125 = $30
Tom tuned piano 3 for $140, therefore his surplus on piano 3 is $155 - $140 = $15
Tom tuned piano 4 for $160, therefore his surplus on piano 4 is $155 - $160 = ($5)
All together his surplus is $35+$30+$15 =$80
Answer:
Avoidable interest is $272,064.
Explanation:
Compute the interest on new notes payable, using the equation as shown below:
Interest = Principalof 13% note payable × Rate of interest
=$1,059,300×13%
=$137,709
Hence, the interest of new notes payable is $137,709.
Compute the interest of outstanding notes payable using the equation as follows:
Interest = Outstanding principal × Weighted average interest rate
=$1,268,700×10.59%
=$134,355
Hence, the interest of outstanding principal which is needed to be considered for the calculation of avoidable interest is $134,355
Avoidable interest is $272,064.
<u>Explanation:</u>
Tangible products
Though there is customization to products they are uniform or similar in use to the consumers. Products have the touch and feel which can be experienced before the purchase of the products.
These products have to be stocked and shelved it occupies a place. It needs protection from damage, theft or perish ability.
Intangible Products
Service is the intangible product it is given based on the customer needs. It only requires skilled employees to provide best services. Disadvantages are it requires lot of effort to satisfy the customers. Level of satisfaction can be different for different people.
