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Xelga [282]
3 years ago
12

Cheyenne Enterprises manufactures Nuts and Bolts from a joint process (cost = $90,000). Five thousand pounds of Nuts can be sold

at split-off for $20 per pound; ten thousand pounds of Bolts can be sold at split-off for $15 per pound. For product costing purposes Cheyenne allocates joint costs using the relative sales value method. The amount of joint cost allocated to Nuts would be:
Business
1 answer:
Klio2033 [76]3 years ago
6 0

Answer:

$36,000

Explanation:

Joint process cost =$85000

Allocation of Joint cost using relative sales value method:-

Sales value of Nuts = 5,000 pounds × $20 per pound

                                = $100,000

Sales value of Bolts = 10,000 pounds × $15 per pound

                                 = $150,000

Total sales value = $100,000 + $150,000

                             = $250,000

Joint cost allocate to Nuts:

= (Total Joint cost ÷ Total relative sales value) × Sales value of Nuts

= ($90,000 ÷ $250,000) × $100,000

= $36,000

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guapka [62]

Answer: d.the holders must have acted honestly and observed all reasonable commercial standards of fair dealing.

Explanation:

For an instrument to be negotiable, it should be noted that the UCC requires that such instrument have to be signed by the maker or the drawer.

The UCC requires that HDCs take instruments in good faith. This means that the holders must have acted honestly and observed all reasonable commercial standards of fair dealing.

6 0
3 years ago
Bedrock Company reported a December 31 ending inventory balance of $416,000. The following additional information is also availa
Brrunno [24]

Answer:

$392,400

Explanation:

The computation of correct balance for ending inventory on December 31 is shown below:-

Correct balance for ending inventory = Ending inventory – Office supplies

= $416,000 - $23,600

= $392,400

Therefore for computing the correct balance for ending inventory we simply deduct the office supplies from ending inventory and ignore all other amounts as they are not relevant.

3 0
2 years ago
The listing and selling brokers agree to split a 7% commission fifty-fifty on a $96,900 lot sale. The listing broker is on a 30%
Sergio039 [100]

Answer:

1,187.03

Explanation:

he listing and selling broker each get 50% of the 7 5 commission.

The commission equal  7/100 x $96,900

Each broker gets   =3,391.5

The selling broker (broker working with the buyer) get 35 % of  3,391.5

=35/100 x 3,391.5

=1,187.025

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3 years ago
True or failed sales taxes are the same no mattter where you live
coldgirl [10]

Answer:

false

Explanation:

8 0
3 years ago
Nash's Trading Post, LLC has assets of $4200000, common stock of $1000000, and retained earnings of $600000. What are the credit
Anastasy [175]

Answer:

The correct answer is $2,600,000.

Explanation:

According to the scenario, the given data are as follows:

Total Assets = $4,200,000

Common stock = $1,000,000

Retained earnings =  $600,000

So, we can calculate the creditors' claims on their assets by using following formula:

Creditor's Claim on their Assets = Total Assets - ( Common stock + Retained earnings)

= $4,200,000 - ( $1,000,000 + $600,000 )

= $4,200,000 - $1,600,000

= $2,600,000

Hence, Creditors' claims on their assets will be $2,600,000.

3 0
3 years ago
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