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Semenov [28]
3 years ago
11

Blue Spruce Corp. accumulates the following cost and net realizable value data at December 31. Inventory Categories Cost Data Ne

t Realizable Value Cameras $10,960 $12,060 Camcorders 8,850 9,170 DVDs 12,100 11,040 Compute the lower-of-cost-or-net realizable value for company’s inventory.
Business
1 answer:
Kruka [31]3 years ago
3 0

Answer:

<u>Company's total inventory</u> 30,850

Camaras: 10,960

Camcorders: 8,850

DVDs: 11,040

Explanation:

<u>Camaras: </u>

cost: 10,960

net realizable value: 12,060

<u>Camcorders: </u>

cost: 8,850

net realizable value: 9,170

<u>DVDs: </u>

cost: 12,100

net realizable value: 11,040

<u>Company's total inventory</u>

10,960 + 8,850 + 11,040 = 30,850

We must pick between the historic cost or the net realizable value the lower. The reasoning behind this is the conservatism accounting principle to keep the assets valued at minimum.

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Jacob has built up a wide network of contacts, clients, and local business neighbors since moving to Central City five years ago
Nata [24]

Answer:

The answer is network.

Explanation:

Network is a way of interacting with others to exchange some information or establish social contacts. Since Jacob has built up a wide range of contacts, clients, and local business neighbors over the years as mentioned in the statement, he will generally leverage on the network he has developed with these individuals as he intend to move to another phase of his career.

7 0
3 years ago
Read 2 more answers
Kubin Company’s relevant range of production is 11,000 to 14,000 units. When it produces and sells 12,500 units, its average cos
erastovalidia [21]

Answer:

a. $142,500

b. $86,250

Explanation:

a. The computation of the total direct manufacturing cost is shown below:

= (Direct material per unit + direct labor per unit)  × number of units manufactured

= ($7.20 + $4.20) × 12,500 units

=  $142,500

b. The computation of the total indirect manufacturing cost is shown below:

= (Variable manufacturing overhead per unit + Fixed manufacturing overhead per unit)  × number of units manufactured

= ($1.70 + $5.20) × 12,500 units

=  $86,250

8 0
3 years ago
An example of this operating expense is checkout counters.
ollegr [7]
Im pretty sure its 2) Fixtures

Sorry if its wrong
7 0
3 years ago
Read 2 more answers
M8-1 Evaluating the Decision to Extend Credit [LO 8-1 Nutty Productions Inc. generated service revenue of $48,000 and income fro
emmasim [6.3K]

Answer:

Yes

Explanation:

In this question, we have to compare the total income based on credit extended The computation is shown below:

If credit is not extended, then the total income would be

= Service revenue + income from operations

= $48,000 + $19,000

= $67,000

If credit is extended, then the total income would be

= Service revenue + income from operations - additional expenses for wages and bad debts

= $87,000 + $19,000 - $34,000

= $72,000

Yes the company extend credit as the total income is increased by $5,000

7 0
2 years ago
Sunny corporation reported the following results for december: Description AmountNumber of units sold 800 unitsSelling price per
Llana [10]

Answer:

The gross margin for December is: 0.5%.

The Gross margin of an organisation or business measure the extent by which its income exceeds the costs it incurs in producing its goods and or services.  

The gross margin is measured in percentages. The higher the percentage of this margin, the higher the effectiveness of the company's management in deriving value from every dollar invested.

Explanation:

To arrive at Gross Margin, one is required to subtract the total cost of goods sold from total revenue for the period and dividing that number by revenue. That is:

Gross Margin (GM) = \frac{Revenue-Cost of Goods Sold}{Revenue}

Step I - Calculate Revenue

This is given as the total amount of goods sold which is:

800 x $500 = $400,000

Step II - Calculate Cost of Goods Sold

Cost of goods sold per unit is given as

$250 per unit.

Total Cost of Goods sold therefore is

800 x $250 = $200,000

Step III - Calculate Gross Margin

= \frac{400,000-200,000}{400,000}

= \frac{200,000}{400,000}

= \frac{1}{2} or 0.5%

Cheers!

7 0
3 years ago
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