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3 years ago

Birk Camera Shop Inc. uses the lower-of-cost-or-market basis for its inventory. The following data are available at December 31.

Business

1 answer:

Kitty [74]3 years ago

4 0

Answer:

$4,373

Explanation:

we will check lower of cost or market for individual items:

Minolta :

= Market value per unit × No. of units

= 158 × 5

= $790

Canon :

= Cost per unit × No. of units

= 145 x 7

= $1,015

Vivitar:

= Market value per unit × No. of units

= 114 x 12

= $1,368

Kodak:

= Cost per unit × No. of units

= 120 x 10

= $1,200

Total amount should be reported on Brik Camera Shop's financial statements:

= $790 + $1,015 + $1,368 + $1,200

= $4,373

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Answer:

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Explanation:

The Expected Earning for a college alum with a four year college education in financial matters is determined as weighted normal all things considered, utilizing likelihood of every result as its weight.

Although the Expected Earning is;

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3 years ago

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Answer:

B Inflation

Explanation:

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3 years ago

Suppose that the U.S. government decides to charge cola producers a tax. Before the tax, 50 billion cases of cola were sold ever

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Answer:

U.S. Tax Burden on Cola:

The amount of the tax on a case of cola is $4 per case. Of this amount, the burden that falls on consumers is $1 per case, and the burden that falls on producers is ___$3______ per case.

The effect of the tax on the quantity sold would have been larger if the tax had been levied on consumers.

a. True

b. False

Explanation:

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This represents a total tax burden of $4 or about 67% based on the new selling price of cola or 80% based on the old selling price of cola.

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3 years ago

Recall the text’s definition of diminishing marginal utility: "the common pattern that each marginal unit of a good consumed pro

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<u>Explanation:</u>

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Another instance could occur after exercising, I'm given 3 bottles of coke, after taking my first bottle, the amount of utility I derive would reduce until I get to the third bottle, at this point I've reached my peak.

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3 years ago

An income statement for Sam's Bookstore for the first quarter of the year is presented below: Sam's Bookstore Income Statement F

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Answer:

The contribution margin for Sam's Bookstore for the first quarter is 0.84 or 84 %

Explanation:

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Where,

<em>Contribution = Sales - Variable Costs</em>

where,

Sales :

Sales = $ 900,000

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= 18,000 books

Variable Costs Calculation :

Cost of goods sold $630,000

Variable selling expenses ($5 × 18,000 books) $90,000

Variable administrative expenses( 4% × $ 900,000) $36,000

Total Variable Costs $756,000

Therefore,

Contribution Margin = $756,000÷ $ 900,000

= 0.84 or 84 %

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3 years ago