18.25%
0.05% x 365 (days in a year)
Answer: $225,000
Explanation:
Given that,
Company acquired a mine = $970,000 of this amount,
Land value = $100,000 and remaining portion to the minerals in the mine
Ore appear to be in the mine = 12,000,000 units
Aristotle incurred development costs = $170,000
fair value of its obligation = $40,000
ore were extracted = 2,500,000 units
Units sold = 2,100,000
=
= $0.09 depletion per unit
The total amount of depletion for 2017 = depletion per unit × ore were extracted
= $0.09 × 2,500,000
= $225,000
The answer is d because d
The entry to record this transaction would include:
Dr. Inventory $20,000
Cr. Accounts payable $20,000
What does it mean to purchase inventory on account?
Purchasing the inventory on account for $20,000 means that Ferguson corp. did not make payment for the inventory immediately, it rather purchased the inventory on credit with a promise to pay later.
As a result, the liability of Ferguson corp. has increased, specifically, the company would credit accounts payable with $20,000 such that inventory, which is the receiving account is debited with the same amount
Find out more about journal entry on:brainly.com/question/11312217
#SPJ1
Answer:
$24,160 favorable
Explanation:
The computation of the total contribution margin sales volume variance is given below:
The Budgeted contribution margin per pound of MT is
= $40 - $20
= $20 per pound
Now the budgeted contribution margin per pound of ET is
= $60 - $30
= $24 per pound
MT's contribution margin sales volume variance is
= (Actual sales quantity - Budgeted sales quantity) × Budgeted contribution margin per pound
= (3960 - 4000) × $20
= $800 Unfavorable
ET's contribution margin sales volume variance is
= (Actual sales quantity - Budgeted sales quantity) × Budgeted contribution margin per pound
= (5,040 - 4000) × $24
= $24,960 favorable
Now the total contribution margin sales volume is
= $800 unfavorable + $24,960 favorable
= $24,160 favorable
