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ella [17]
3 years ago
7

Pierce Company incurred $150,000 of research and development costs in its laboratory to develop a new product. It spent $20,000

in legal fees for a patent granted on January 2, 2017. On July 31, 2017, Pierce paid $15,000 for legal fees in a successful defense of the patent. What is the total amount that should be debited to Patents through July 31, 2017?
A. (x)$35,000
B. $185,000
C.Some other amount
D. $150,000
Business
1 answer:
mr Goodwill [35]3 years ago
8 0

Answer:

A. $35,000

Explanation:

The first $150,000 were invested in research and development of the product itself, not the patent. Thus, this amount should be debited to research and development expenses.

The only expenses directly related to the patent itself are the $20,000 spent on legal fees on January 2, 2017, and the $15,000 for legal fees in a successful defense of the patent on July 31, 2017.

Therefore, the total amount that should be debited to Patents (P) is:

P = $20,000 + $15,000 = $35,000

You might be interested in
The new bridge would require 14 piers to support it and it was known that each time a pier is sunk into the harbor it would take
Sergeu [11.5K]

Answer:

$21,000

Explanation:

The new bridge would take 30 man hours of labor at $50 per hour, in activity based costing, this means that ,

30*50 = 1500.

Now, it will require 14 piers to support it each time a pier is sunk into the harbor,hence the final calculation will be:

30*50*14 = 21000.

Hope this Helps.

Goodluck.

6 0
3 years ago
Scranton Shipyards has $20 million in total investor-supplied operating capital, and its WACC is 10%. Scranton has the following
Setler [38]

Answer: $400,000

Explanation: Given the following :

Operating Income (EBIT) = $4,000,000

Weighted average cost of Capital (WACC) = 10% = 0.1

Operating capital = $20,000,000

Taxes = 40% = 0.4

Economic Value Added (EVA) is given by;

EBIT x (1-Tax) - (WACC x Operating capital)

$4,000,000 × (1-0.4) - (0.1 × 20,000,000)

$4,000,000 × (0.6) - (2,000,000)

$2400,000 - $2,000,000

=$400,000

6 0
3 years ago
A business school would like to know that whether the average number of years of work experience of MBA applicants is less than
VMariaS [17]

Answer:

The test statistic t of the sample is -0.804.

There is sufficient evidence to ascertain that the average number of years of work experience of MBA applicants is less than 3 years.

Explanation:

Null hypothesis: The average number of years of work experience of MBA applicants is 3 years.

Alternate hypothesis: The average number of yet of work experience of MBA applicants is less than 3 years.

Test statistic (t) = (sample mean - population mean) ÷ sd/√n

sample mean = 2.57

population mean = 3

sd = 3.67

n = 47

t = (2.57 - 3) ÷ 3.67/√47 = -0.43 ÷ 0.535 = -0.804

Assuming a 5% significance level

degree of freedom = n - 1 = 47 - 1 = 46

The critical value corresponding to 46 degrees of freedom and 5% significance level is 2.013.

Conclusion:

Reject the null hypothesis because the test statistic -0.804 is less than the critical value 2.013.

The years of work experience of MBA applicants is less than 3.

5 0
3 years ago
You want to retire exactly 35 years from today with $2,020,000 in your retirement account. If you think you can earn an interest
kompoz [17]

Answer:

Monthly deposit= $485.93

Explanation:

Giving the following information:

You want to retire exactly 35 years from today with $2,020,000 in your retirement account.

interest rate= 10.35 percent compounded monthly

First, we need to calculate the monthly interest rate.

Monthly interest rate= 0.1035/12= 0.008625

Now, using the following formula we can calculate the monthly deposit:

FV= {A*[(1+i)^n-1]}/i

A= monthly deposit

Isolating A:

A= (FV*i)/{[(1+i)^n]-1}

n= 35*12= 420

A= (2,020,000*0.008625) / [(1.008625^420)-1]

A= $485.93

4 0
3 years ago
The selling price per unit less the variable cost per unit is the ________.
OlgaM077 [116]

The selling price per unit less the variable cost per unit is the contribution margin per unit.

<h3>What is the contribution margin per unit.?</h3>

This is the term that is used to refer to the selling price that was used for the sale of a particular good minus the variable cost that was employed in the production of that particular good. It is the contribution that is made towards the payment of the fixed costs.

Hence we can say that The selling price per unit less the variable cost per unit is the contribution margin per unit.

Read more on contribution margin per unit here: brainly.com/question/13528647

#SPJ1

6 0
1 year ago
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