The answers are B and D. Every year the US government provides financial aid for college or career school. In order to qualify for this a FAFSA should be completed. FAFSA is used as a basis in determining how much you need financial aid thus it should be clear in the FAFSA that you really need it. In applying for Federal Work-study program, the FAFSA is used to see if you are qualified.
The correct answers are, $1200 and -$200.
Sydney has taken depreciation on the shelves of $300. The amount of basis and the amount of the gain or loss recognized on the sale of the shelves are $1200 and -$200 respectively.
Explanation:
Fair market value at the date of conversion = $1,500
Depreciation on the Shelves = $300
Basis = Fair market value - Depreciation
Basis = $1500 - $300 = $1,200
So Basis = $1,200
Now
Sale Price of Shelves = $1,000
Adjusted Basis = $1,200
Loss would be = Sale price - Adjusted Basis
Loss = $1000 - $1200
Loss = -$200
So, Loss = $200
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Answer:
Gross profit= $260,000
Explanation:
Giving the following information:
Sales revenue $ 440,000
Cost of goods sold 180,000
The gross profit is the result of deducting the cost of goods sold from sales revenue. It will appear in the income statement under absorption costing.
Gross profit= sales revenue - COGS
Gross profit= 440,000 - 180,000= $260,000
Answer:
d) $300,000.
Explanation:
Paticulars Amount
Manufacturing costs + Beginning WIP = Ending WIP + Cost of Goods manufactured
Let ending WIP be x
Beginning WIP be 0.75x
2,500,000 + 0.75x = x + 2,425,000
2,500,000 - 2,425,000 = x - 0.75x
75,000 = 0.25x
x = 300,000
Therefore, The Work in Process inventory at December 31 was $300,000.
A small change in a firm's targeted markets or strategic direction usually has little impact on the value chain. The assertion is untrue.
What Is a Value Chain?
A value chain is a business model that outlines all the steps involved in producing a good or service. A value chain for businesses that manufacture things includes all of the processes involved in taking a product from conception to distribution, as well as everything that happens in between, such as sourcing raw materials, performing manufacturing tasks, and engaging in marketing activities.
A company conducts a value-chain analysis by reviewing the particular procedures involved in each step of its business. A value-chain analysis' goal is to boost production efficiency so that a business can provide the most value for the least amount of money.
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