All categories

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

You might be interested in

X minus Industries manufactures 3minusD printers. For each unit, $ 3 comma 500 of direct material is used and there is $ 2 comm

dolphi86 [110]

Answer:

Profit earned=$21,000

Explanation:

Manufacturing Cost total=direct material +direct manufacturing+ Total Manufacturing overhead

Direct Material=$3500

Direct manufacturing =$2800

Total Manufacturing overhead=(($2800/12)*18)

Total Manufacturing overhead=$4200

Manufacturing Cost total=$3500+$2800+$4200

Manufacturing Cost total=$10,500

Profit earned=($11,000-$10,500)*42

Profit earned=$21,000

4 0

3 years ago

The purchasing power of peoples' income is most affected by what?

Sav [38]

Answer:

a.The rate of inflation

Explanation:

Inflation means rise in the consumer price index i.e. the weighted average of prices belong to the different kinds of goods. It could be measured by taking the difference of CPI and dividing it by the previous year CPI

The rate of inflation would be most impacted to the purchasing power of people income

Therefore the option a is correct

7 0

3 years ago

On the cost of goods manufactured schedule, the cost of goods manufactured agrees with the:________ a. total debits to Work in P

Maru [420]

Answer:

c. debits to Cost of Goods Sold during the period

Explanation:

For a Manufacturing firm, the Cost of Sales is equal to the Cost of Goods Manufactured.

Therefore, On the cost of goods manufactured schedule, the cost of goods manufactured agrees with the debits to Cost of Goods Sold during the period.

6 0

3 years ago

Bond valuation [LO14-2] Your investment department has researched possible investments in corporate debt securities. Among the a

Sonbull [250]

Answer:

Bond Valuation

Other things being equal, the bond issue that offers the most attractive investment opportunity if it can be purchased at the prices stated is:

= BB Corp. bonds.

Explanation:

a) Data and Calculations:

Maturity period = 20 years

Issue date = January 1, 2021

Maturity date = December 31, 2040

Company Bond Price Stated Rate Annual Interest FV

1. BB Corp. $ 107 million 15 % $15 million $3,518,371,301.23

2. DD Corp. $ 100 million 14 % $14 million 2,827,106,832.58

3. GG Corp. $ 93 million 13 % $13 million 2,260,756,079.53

From an online financial calculator, the future values of the bonds are:

N (# of periods) 20

I/Y (Interest per year) 15

PV (Present Value) 107000000

PMT (Periodic Payment) 15000000

Results

FV = $3,518,371,301.23

Sum of all periodic payments $300,000,000.00

Total Interest $3,111,371,301.2

N (# of periods) 20

I/Y (Interest per year) 14

PV (Present Value) 100000000

PMT (Periodic Payment) 14000000

Results

FV = $2,827,106,832.58

Sum of all periodic payments $280,000,000.00

Total Interest $2,447,106,832.58

N (# of periods) 20

I/Y (Interest per year) 13

PV (Present Value) 93000000

PMT (Periodic Payment) 13000000

Results

FV = $2,260,756,079.53

Sum of all periodic payments $260,000,000.00

Total Interest $1,907,756,079.53

8 0

3 years ago

Yoon, who sells designer jeans, has a mobile app to help women determine what leg style looks best on their body type. What coul

GREYUIT [131]

Answer:

The correct answer is (D) Add a mobile-app extension to her ad.

Explanation:

Application extensions allow you to link to an application for mobile devices or tablets from your text ads. People click on the title of your ad to go to your site or on the link to go to your application. Application extensions are an excellent way to provide access to your website and application from a single ad.

4 0

3 years ago