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DanielleElmas [232]
3 years ago
14

Granite Company purchased a machine costing $133,000, terms 2/10, n/30. The machine was shipped FOB shipping point and freight c

harges were $3,300. The machine requires special mounting and wiring connections costing $11,300. When installing the machine, $2,800 in damages occurred. Compute the cost recorded for this machine assuming Granite paid within the discount period.
Business
1 answer:
nikitadnepr [17]3 years ago
6 0

Answer:

$144,940

Explanation:

machine costing = $133,000

freight charges = $3,300

special mounting and wiring connections costing = $11,300

Discount rate = 2%

Compute the machine cost as given below:

Machine cost:

= Purchase price × (1 - Discount rate) + Freight charges + Special mounting and wiring connection cost

= 133,000 × (1 - 2%) + $3,300 + $11,300

= $144,940

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Blake and Matthew are partners who agree that Blake will receive a $103,000 salary allowance and that any remaining income or lo
Sedaia [141]

Answer:

total net income = $109,000

Explanation:

given data

Blake receive = $103,000

Matthew capital account is credited = $3,000

solution

we know that both partner get equal part in  remaining loss or income

so here Blake get $3,000 as share of the net income

so that here net income for the period, that will Blake's salary allowance +  amount shared in both persons of net income

as that

total net income = $103,000 + $3,000 +$3,000

total net income = $109,000

7 0
3 years ago
Street Runner Engine Shop uses a job order cost system to determine the cost of performing engine repair work. Estimated costs a
KiRa [710]

Answer:

$8.20/Direct Labor hours

Explanation:

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Cost of performing engine repair work = $40,000 + $133,000  + $22,000 + $10,000

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Direct Labor Hours = 25,000 hours

Predetermined shop overhead rate per direct labor hour = $205,000 / 25,000 Hours = $8.20/Direct Labor hours

5 0
3 years ago
Corporation made sales of million during . Of this​ amount, collected cash for million. The​ company's cost of goods sold was ​m
saveliy_v [14]

Answer:

A. $405 million

B. $332 million

Explanation:

A. Calculation for How much was Carter's net income for 2016

Using this formula

2016 Net income=Sales revenue - Cost of goods sold - Other expenses

Let plug in the formula

2016 Net income= $900 million - $270 million - $225 million

2016 Net income = $405 million

Therefore How much was Carter's net income for 2016 is $405 million

B. Calculation for How much was Carter's cash balance at the end of 2016

Using this formula

2016 Ending cash balance =Beginning balance + Cash receipts - Payments

Let plug in the formula

2016 Ending cash balance=$ 110 millon + $872 million- $375million - $275million

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How much was Carter's cash balance at the end of 2016 is $332million

8 0
2 years ago
America spend the largest portion of their budget on___.
alexandr1967 [171]

Answer:

B) housing

Actually,  the biggest chunk of the average American's budget goes toward housing, which accounts for about 37% of take-home pay. Many people spend even more. In some circumstances, spending a lot on rent or a mortgage is unavoidable.

8 0
3 years ago
which are characteristics for all careers in the stem career cluster? select all that apply. a. good with customers b. work in l
mestny [16]

I got B, C and D.

Let's go through the process of elimination and my explanation for my answers.

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3 0
3 years ago
Read 2 more answers
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