What is a federal and state fox on specific goods like gasoline tires airfare and cigarettes

The equivalent units in beginning work in process inventory plus the equivalent units in ending work in process inventory equals

vivado [14]

Answer:

False

Explanation:

The formula for equivalent units units as follows:

Opening Work in Process + Equivalent units on which the work is done - Closing Work in process = Units Transferred

Therefore, ideally,

Opening work in process - Closing work in process = Units transferred - Equivalent units on which work is done.

As adding all the cost incurred during the period to opening inventory of work in process, we get the total cost for the period, thereafter, deducting the cost allocated to closing work in process we get the value of goods produced and transferred.

Therefore, above statement is false.

8 0

3 years ago

LUVFINANCE, Inc. is estimating its WACC. It is operating at its optimal capital structure. Its outstanding bonds have a 12 perce

11111nata11111 [884]

Answer:

9.72%

Explanation:

Maturity = 34

Par-value = -1000

Coupon rate = 6%

Coupon PMT = -60

Value of bond = 1152

Semi-annual Yield = Rate(34, -60, 1162, -1000, 0, 0)

Semi-annual Yield = 5.00%

Annual Yield = 10%

Tax rate = 40%

After tax cost of debt = 10*(1-0.4)= 6%: Add: Flotation cost (5%) = 11%

Cost of preferred stock = Dividend/Price = 12/120 = 10%

Cost of equity = Risk free rate + Beta*Market risk premium

Cost of equity = 3.72 + 0.94*6

Cost of equity = 9.36%

Particulars Value per No of Market Weight Cost of Product

security securities value security

Bonds 1162 100000 116200000 0.15784 11 1.736213

P. stock 120 1000000 120000000 0.16299 10 1.62999

Equity 100 5000000 500000000 0.6792 9.36 6.35697

736200000 1 9.72317

So, the WACC of the firm is 9.72%

3 0

3 years ago

Teddy's Pillows had beginning net fixed assets of $471 and ending net fixed assets of $550. Assets valued at $319 were sold duri

photoshop1234 [79]

Answer:

Net Capital Spending = $121

Explanation:

The Net Capital Spending is the amount of money a company spends in the acquisition of fixed assets during the year. Mathematically, it is represented as:

Net Capital Spending = Ending net fixed asset - Beginning net fixed asset + depreciation

Net Capital Spending = 550 - 471 + 42 = $121

∴ Net Capital Spending = $121

3 0

3 years ago

QS 11-9 Recording warranty repairs LO P4 On September 11, 2016, Home Store sells a mower for $490 cash with a one-year warranty

prisoha [69]

Answer:

On September 11, 2016, Home Store sells a mower for $490 cash with a one-year warranty that covers parts

Recording of revenue:

Cash $490 (debit)

Revenue $490 (credit)

Recording of Warranty granted :

Assurance Warranty expense $49.00 (debit)

Warranty Provision $49.00 (credit)

$490 × 10% = $49.00

On July 24, 2017, the mower is brought in for repairs covered under the warranty requiring $34 in materials taken from the Repair Parts Inventory

When warranty is subsequently received:

Warranty Provision $ 34 (debit)

Repair Parts Inventory $ 34 (credit)

Explanation:

On September 11, 2016, Home Store sells a mower for $490 cash with a one-year warranty that covers parts

Recording of revenue:

Cash $490 (debit)

Revenue $490 (credit)

We Recognise Revenue to depict transfer of control of mower

Recording of Warranty granted :

Assurance Warranty expense $49.00 (debit)

Warranty Provision $49.00 (credit)

$490 × 10% = $49.00

There is no option for customer to take the warranty or not, so this is a service warranty.The warranty is measured at the best estimate of expenditure required to settle the obligation that is at 10% of sales.

On July 24, 2017, the mower is brought in for repairs covered under the warranty requiring $34 in materials taken from the Repair Parts Inventory

When warranty is subsequently received:

Warranty Provision $ 34 (debit)

Repair Parts Inventory $ 34 (credit)

Utilise the Warranty Provision when the warranty claim is subsequently received

7 0

3 years ago

How many cows did helen keller own??? need this answer ASAP!

Hunter-Best [27]

Answer:

0

Explanation:

7 0

3 years ago

Read 2 more answers