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Feliz [49]
2 years ago
12

On January 1, the Matthews Band pays $69,000 for sound equipment. The band estimates it will use this equipment for five years a

nd perform 200 concerts. It estimates that after five years it can sell the equipment for $2,000. During the first year, the band performs 55 concerts. Compute the first-year depreciation using the straight-line method.
Business
1 answer:
LuckyWell [14K]2 years ago
3 0
<h3 />

$13,400 is the first-year depreciation using the straight-line method.

<h3>Step 1</h3>

cost = $69,000

savage = $2,000

cost minus savage = $69,000 -- $2,000

⇒$67,000  

⇒Estimated years = 5years  

using the straight-line method formula.

<h3>Step 2           </h3>

⇒first-year depreciation expense = $67,000 /5

⇒$13,400

thus, the depreciation using the straight-line method is $13,400

learn more about depreciation here <u>brainly.com/question/25806993</u>

#SPJ4

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ABC Company has the following information at the end of the current year: Direct Materials Used $25,000 Beginning Work-in-Proces
notsponge [240]

Answer:

The correct answer to the following question is $39,000 .

Explanation:

The given information -

Direct material - $25,000

Beginning work in progress - $2000

Ending work in progress - $5000

Direct labor - $10,000

Manufacturing overhead - $7000

So to calculate the cost of goods manufactured =

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7 0
4 years ago
Which statement best describes how the Fed responds to recessions?
slavikrds [6]

The federal government responds to recession by increasing the money supply in a country.

<h3>What is Recession?</h3>

Recession is term used to describe a general economic contraction which is identified by a fall in the gross domestic product of a country.

    Before a country is said to be in recession, the GDP of that country must have fallen in  two successive quarters.

The feds respond to recession by increasing the money supply in order to stimulate the local economy.

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7 0
2 years ago
Longstreet Inc. has fixed operating costs of $470,000, variable costs of $2.80 per unit produced, and its product sells for $4.0
Ket [755]

Answer:

e. 391,667 units

Explanation:

The computation of break-even point is shown below:-

For computing the break-even point first we need to find out the contribution per unit which is shown below:-

Contribution per unit = Selling price - Variable cost

= $4.00 - $2.8

= $1.2

So, The break-even point = Break even point= Fixed costs ÷ Contribution per unit

= $470,000 ÷ $1.2

= 391,666.66

= 391,667 units

8 0
3 years ago
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