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aalyn [17]
3 years ago
15

Buffalo Company reported a December 31 ending inventory balance of $412,000. The following additional information is also availa

ble:
The ending inventory balance of $412,000 did not include goods costing $48,000 that were purchased by Buffalo on December 28 and shipped FOB destination on that date. Buffalo did not receive the goods until January 2 of the following year.

The ending inventory balance of $412,000 included damaged goods at their original cost of $38,000. The net realizable value of the damaged goods was $10,000. Based on this information, the correct balance for ending inventory on December 31 is:

A. $374,000
B. $384,000
C. $460,000
D. $422,000
E. $438,000
Business
1 answer:
Klio2033 [76]3 years ago
6 0

Answer:

B. $384,000

Explanation:

At December 31, the ending inventory balance of $412,000. This balance did not include goods costing $48,000 that were purchased by Buffalo on December 28 and shipped FOB destination on that date because the goods arrived on January 2 of the following year. The ending inventory balance of $412,000 included damaged goods at their original cost of $38,000. The net realizable value of the damaged goods was $10,000

Starting with an inventory of $412,000. The inventory did not include goods shipped FOB destination because as of December 31 it has not been received. The cost of damaged goods at their original cost should not be included in inventory. The value of the damaged goods =  ($38,000 - $10,000) = $28000

The correct balance of ending inventory = $412,000 - $28,000 = $384,000.

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Explain ways of making contributions to discussions
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Answer:

For making contributions to discussions, the following points are worth remembering:

  1. Until you arrive at the 'big idea', you should never wait. Your simple words will always be helpful in building discussions.
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Explanation:

The following strategies are helpful in building contributions to discussions. They make commencements with low stress approaches and build towards outright involvement.

Verbal/Non-Verbal Acknowledgements

Show that you're a decent audience by giving close consideration to what is being said. Recognize others' commitments by saying "yes" or gesturing your head. Speakers find such signals consoling as they show their thoughts are being tuned in to and esteemed. These listening techniques will likewise keep you dynamic and included, giving a decent beginning stage for increasingly significant commitments.

Agreements

Concurring with a point somebody has made can take your commitments to the following stage. Continuously use articulations that offer non-compromising talking techniques. You would then be able to manufacture this to increasingly complex degrees of understanding, expressing where and why you concur.

Observation

Take a stab at remarking on the conversation, indicating other gathering individuals that you're mindful of what's happening and are assuming a functioning job in tuning in and molding the contention. This can be especially helpful when attempting to maintain a strategic distance from interruptions and keeping the conversation on course.

Presenting alternative views

Offering elective perspectives shows a significant level of contribution and can be an exceptionally compelling method for assisting with building up your own thoughts and the thoughts of others. Try not to be hesitant to differ with somebody, just ensure that you do as such in a helpful manner. First express your contradiction by demonstrating you comprehend the point that was being made and afterward clarify why you oppose this idea. In the event that you are uncertain concerning why you dissent, have a go at doing as such with an inquiry

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This level shows exceptionally solid degrees of commitment. Notwithstanding the entirety of the above procedures, the included understudy will likewise attempt to make new focuses, driving the conversation into new ground. The included understudy will likewise attempt to carry others into the conversation, welcoming remark or drawing upon somebody with pertinent experience.

 

Using Openers

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4 0
3 years ago
In the month of April, the Forming Department had 500 units in beginning work in process inventory that were 60% complete. These
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Answer:

$2,700,000

Explanation:

since materials are added at the beginning of the process, we must first determine the number of units that started to be produced during April:

finished goods + ending inventory - beginning inventory = 10,000 + 2,000 - 500 = 11,500

the $1,380,000 must be divided by 11,500 units started = $1,380,000 / 11,500 = $120

total materials = [(11,500 - 2,000) x $120] + $60,000 (beginning inventory) = $1,140,000 + $60,000 = $1,200,000

conversion costs are added as the process is carried out so we must determine equivalent units:

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total equivalent units processed = 10,000 + 500 - 300 = 10,200

conversion cost per equivalent unit = $1,530,000 / 10,200 = $150

total conversion costs = [(10,200 - 500) x $150] + $45,000 (beginning inventory) = $1,455,000 + $45,000 = $1,500,000

total cost of finished goods inventory = $1,200,000 + $1,500,000 = $2,700,000

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Answer: D

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Answer:

$5,896,778

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The computation of the increase value in the liabilities section is shown below:

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= $5,896,778

For computing the increase value in the liabilities we simply added the present value of two liabilities given in the question

7 0
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