Answer:
The Total Cost of Inventory is $4,024,000
Explanation:
The computation of the total cost is shown below:
= Purchase cost + ordering cost + carrying cost
where,
Purchase cost = Annual consumption × Cost per unit\
= 80,000 × $50
= $4,000,000
Ordering cost = (Annual demand ÷ EOQ) × Cost to place one order
= (80,000 ÷ 8,000) × $1,200
= $12,000
Carrying cost = (EOQ ÷ 2) × carrying cost percentage × Cost per unit
= (8,000 ÷ 2) × 6% × $50
= $12,000
Now put these values to the above formula
So, the value would equal to
= $4,000,000 + $12,000 + $12,000
= $4,024,000
Answer:
The Journal entries are as follows:
(1)
Equipment A/c Dr. $71,890
To cash $3,790
To accounts payable $68,100
(To record the purchase of equipment)
Workings:
Equipment value:
= Purchase price + Sales tax + Freight charges for shipment of equipment + Installation of equipment
= 64,000 +4,100 + 890 + 2,900
= $71,890
Cash Paid:
= Freight charges for shipment of equipment + Installation of equipment
= 890 + 2,900
= $3,790
Accounts payable = Purchase price + Sales tax
= 64,000 +4,100
= $68,100
(2)
Prepaid Insurance A/c Dr. $1,090
To cash A/c $1,090
(To record any expenditures not capitalized in the purchase of equipment)
Answer:
Jerry's gain on the sale= $28,500
Explanation:
When Jerry sells his interest in JJM to Lucia his basis ($54,250) is what he owes and will be taken out of the proceeds he will get for selling his interest in the company.
Therefore
Jerry's gain on the sale= Amount of sale- Jerry's basis
Jerry's gain on the sale= 82,750- 54,250
Jerry's gain on the sale= $28,500
Answer:
a) true
Explanation:
Costs that can be traced to a cost object in a cost-effective way are called direct costs. Sometimes they can literally be seen on the cost object by observation. For example the wood on the table.
Based on the given information, this 50 battery packs will then be tested through the artificial heart and check which of the different components contains the best component for the organ.Thank you for your question. Please don't hesitate to ask in Brainly your queries.
