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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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Use EMBG's adjusted trial balance to EMBG's balance sheet for the current year-end

Vinil7 [7]

Answer:

EMBG Corporation

Balance Sheet

For year ending December 31, 2016

Assets: $376,000

Cash $44,000
Accounts receivable $28,000
Equipment, net $304,000

Liabilities

Notes payable $60,000

Equity

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Retained earnings $186,000

Total liabilities + equity $376,000

net income = $326,000 - $44,000 - $116,000 - $42,000 = $124,000

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4 years ago

Han Cho has served in the US Army Reserves for two years. He is currently on active duty, stationed outside of the U.S. and is g

sashaice [31]

Answer:

Once Han returns to the US, his civilian employer is required to take him back.

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3 years ago

Maritime Marine Company has total estimated factory overhead for the year of $986,800, divided into four activities: fabrication

Hatshy [7]

Answer:

Instructions are below.

Explanation:

Giving the following information:

Estimated costs:

fabrication= $386,400

assembly= $207,900

setup= $112,000

inspection= $280,500.

Fabrication Assembly Setup Inspection

Speedboat: 1,200 dlh 1,800 dlh 60 setups 600 inspections

Bass boat: 1,800 1,200 100 200

3,000 dlh 3,000 dlh 160 setups 800 inspections

First, we need to calculate the overhead rate for each activity:

Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

fabrication= 386,400/3,000= $128.8 per direct labor hour

assembly= 207,900/3,000= $69.3 per direct labor hour

setup= 112,000/160= $700 per setup

inspection= 280,500/800= $350.63 per inspection

Now, we can allocate overhead to each product:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

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3 years ago

Suppose the value of all the stocks in a fund's portfolio is currently $500,000. The fund has $450,000 in liabilities and has so

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Answer:

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Explanation: I really hope i helped

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3 years ago

Which Sales Channel has been opened to manufacturers because of digital tools?

Aleksandr-060686 [28]

The sales channel that has been opened to manufacturers as a result of digital tools is B2B.

Through B2B e-commerce, manufacturers can be able to sell their goods directly to the consumers through online platforms.

It should be noted that because we're in a digital era now, consumers can be able to make purchases for products through online sales platforms and the goods will be delivered to the person's address. This is vital for businesses as manufacturers can make more sales and improve their revenue.

In conclusion, the correct option is B.

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3 years ago