1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
arsen [322]
1 year ago
8

On April 17, 2024, the Loadstone Mining Company purchased the rights to a copper mine. The purchase price plus additional costs

necessary to prepare the mine for extraction of the copper totaled $5,400,000. The company expects to extract 1,080,000 tons of copper during a four-year period. During 2024, 258,000 tons were extracted and sold immediately. Required: Calculate depletion for 2024. Is depletion considered part of the product cost and included in the cost of inventory
Business
1 answer:
mojhsa [17]1 year ago
8 0

The depletion for 2021 is $1,028,000 .

No, depletion is not considered part of the product cost and isn't included in the cost of inventory

<h3>Depletion per ton</h3>

1. Depletion per ton = $4280000/1070000

                = $4 per ton

Depletion for 2021 = 257000 tons*$4

               = $1,028,000

Therefore, The depletion for 2021 is $1,028,000 .

2. Depletion is not considered as part of the product cost, It is shown as an expense on the income statement and reduced from the value of the natural resource and so it is equivalent to the depreciation of assets.

Therefore, No, depletion is not considered part of the product cost and isn't included in the cost of inventory

To learn more about Depletion visit the link

brainly.com/question/14117351

#SPJ4

You might be interested in
When people engage in a collaborative process of identifying values, assumptions, and goals from which support for change will n
pashok25 [27]

Answer: D. Rational Persuasion

5 0
3 years ago
What was the idea that african-americans should celebrate their african roots and remain separate from white society?
kenny6666 [7]
Afrocentrism is an ideology mostly confined to the United states that gained prominence during the civil rights era. It is characterized by an embracing of classical african cultures, african aesthetics, and traditions. It is a response to eurocentrism that attempts to define most modern cultures relative to their relationship or colonization by European countries.
3 0
3 years ago
Population of household composition, price of real estate in the area, availability of mortgage credit, consumer tastes, and inc
Viefleur [7K]

Answer:

Demand.

Explanation:

Population of household composition, price of real estate in the area, availability of mortgage credit, consumer tastes, and income of consumers are all indicators of demand.

Demand can be defined as an economic principle which involves the willingness of a customer to pay an amount of money (price) for a desired goods or services it need or requires.

Simply stated, demand for goods and services rest solely upon the consumer of such goods and services.

6 0
3 years ago
What is one way to set up an opportunity for job shadowing?Contact people you know and request a shadowing experience.Show up on
Lorico [155]

Answer:

A is the answer I just did the test and I remember from my notes writing it down

Explanation:

my notes

1. say ask your parents, family members, and friends if they know anyone working in the career field you want to shadow

2. research organizations that employ people in the career field you want to shadow

3. contact the people from your network and organizations to request a shadowing experience

8 0
3 years ago
Arcs and Triangles paid an annual dividend of $1.47 a share last month. The company is planning on paying $1.52, $1.60, and $1.6
77julia77 [94]

Answer:

The current market price per share is $14.82

Explanation:

The current price of the stock can be calculated using the DDM or dividend discount model. The DDM values the stock based on the present value of the expected future dividends from the stock.

The following is the formula for the price of the stock today,

P0 = D1 / (1+r)  +  D2 / (1+r)^2  + ... +  Dn / (1+r)^n  +  Terminal value

The terminal value is the cumulative value of all the future dividends calculated when the dividend growth becomes zero or constant. In case the dividend growth becomes zero, like in this case, the terminal value is calculated as follows,

Terminal value = Dividend / r

Where,

  • r is the required rate of return
  • Dividend is the dividend which will remain constant through out the future

So, the price of this stock today is,

P0 = 1.52 / (1+0.11)  +  1.60 / (1+0.11)^2  +  1.62 / (1+0.11)^3  +  

(1.65 / 0.11) / (1+0.11)^3

P0 = $14.82

4 0
3 years ago
Other questions:
  • Which of the following is not a valid FICO credit score? A.575 B.775 C.875 D.675
    13·2 answers
  • Eastman Kodak reported that the cost of its PPE on December 31, 2010 was $6,805 million. On January 1, 2010, it had been $7,327
    8·1 answer
  • Sandy uses online banking, and her bank charges her $4.99 per month. However, she has seen ads for a competing bank offering fre
    15·2 answers
  • Robert Wilkins has prepared the following list of statements about process cost accounting. Identify each statement as true or f
    12·1 answer
  • Brooks Co. purchases various investments in trading securities at a cost of $63,000 on December 27, 2017. (This is its first and
    15·1 answer
  • The materials manager for a billiard ball maker must periodically place orders for resin, one of the raw materials used in produ
    10·2 answers
  • Marin Factory provides a 2-year warranty with one of its products which was first sold in 2017. Marin sold $940,900 of products
    12·1 answer
  • The following table shows a simplified consolidated balance sheet for the entire
    8·1 answer
  • Which of the following below is not one of porter's five forces?
    7·1 answer
  • EXPLAIN WHY ARE CRYPTOCURRENCIES RELIABLE.
    11·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!