Answer: $972,900
Explanation:
The cost of land consists of the actual purchase price, and all other expenses that are necessary to make the asset ready for its intended use. In terms of land, all these expenditures can include title fees, unpaid taxes from previous years only (i.e. not current taxes), and other expenses need to physically prepare the land for use. The current taxes figure of $4,600 is not included here, as it is only owed during the current year, therefore normal accounting rules for taxes will apply. This figure will thus be treated as a liability until it is paid. The back taxes were aqcuired when the asset was aqcuired, and thus form part of the cost.
Old buildings that were on the land, may need to be teared down so that land can be utilised. The costs used to demolish the building also forms part of the purchase price. On top of that, to fully prepare the land for use the land may need to be landscaped and leveled. All these costs contribute towards getting the land ready for use, and are thus included in the cost. Sales made on any item related to the land, during the process when the land was still being processed for its intended use, will reduce the cost of the asset, and deduct this figure. This figure will fall under sales, which is an income to the business. The full calculation of the cost is as follows:
Purchase price: $910,000
Title insurance: + $2,400
Unpaid property taxes: + $8,300
Cost of removing building: + $45,900
Sale of salvaged materials: - $4,000
Level the land: + $10,300
Cost of land: = $972,900
Answer: D
Explanation:
Competing on cost is based on achieving maximum value as perceived by the customer.
The company <u>says</u> that no food coloring was involved. Instead, they used a <u>special type </u>of cacao bean and a unique manufacturing process.
<h3>What is a manufacturing process?</h3>
This involves the process of turning raw materials into finished goods with the help of tools, human labor, machinery etc.
In this context, the complete sentence is the company <u>says</u> that no food coloring was involved. Instead, they used a <u>special type </u>of cacao bean and a unique manufacturing process.
Read more about manufacturing process
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Answer:
a reduced availability of these badly needed products.
Explanation:
Price control is when the government imposed a price regime that is aimed at protecting the consumer from over pricing by sellers. When price ceilings are imposed there is a maximum price the the seller cannot go above in pricing of products.
In this case if ocal governments imposed price controls that prevented sellers from raising their prices for badly needed products like plywood and generators. It will result in reduced availability of the products to these areas.
Sellers tend to reduce amount supplied, due to scarcity consumers will have to buy at black market prices that are higher.
