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Valentin [98]
3 years ago
5

Merle Industries had been selling its product for $40 per unit, but recently lowered the selling price to $30 per unit. The comp

any's current inventory consists of 200 units purchased at $32 per unit. The market value of this inventory is currently $26 per unit. At what amount should the company's inventory be reported on the balance sheet?
Business
1 answer:
Marta_Voda [28]3 years ago
8 0

Answer:

$5,200

Explanation:

The amount which is to be reported in the balance sheet is computed as:

Amount = Inventory × Current market value

where

As the presently the market price is $26. So, this amount will be considered while computing the inventory of the company.

Inventory is 200 units

Current market value is $26 per unit

Putting the values above:

Amount = 200 units × $26 per unit

Amount = $5,200

Therefore, $5,200 amount will be recorded in the balance sheet for the inventory amount.

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Use the following information for the next four questions.St. James, Inc. currently uses traditional costing procedures, applyin
Nonamiya [84]

Answer:

The correct answer is A.

Explanation:

Giving the following information:

Estimated overhead= $800,000

Total estimated direct labor hours= 4,000

Direct labor hours Beta= 1,200

To calculate the estimated manufacturing overhead rate we need to use the following formula:

Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Estimated manufacturing overhead rate= 800,000/4,000= $200 per hour

Now, we can allocate overhead to Beta:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Allocated MOH= 200*1,200= $240,000

6 0
3 years ago
Since the 1970s, the largest area of job growth in the United States has been in the ______ sector; areas such as banking, healt
JulsSmile [24]

The largest area of job growth in the United States has been in the service sector.

<h3>What are the service sectors?</h3>

The service sector is commonly known as the tertiary sector. It is also known to be the third tier in the three-sector economy.

An Examples of service sector jobs are housekeeping, nursing, etc. The Service industries is made up of:

  • Banking
  • Communications
  • Wholesale and retail trade, etc.

Conclusively, The largest area of job growth in the United States as at 1970s has been in the service sector.

Learn more about service sector from

brainly.com/question/26521390

3 0
2 years ago
Last year Aft charged $2,946,667 Depreciation on the Income Statement of Andrews. If early this year Aft purchased a new depreci
Kisachek [45]

Answer:

Decrease in Bank balance and increase in fixed assets

Explanation:

When a new depreciable asset is purchased, the money leaves the bank account hence reducing the bank balance in the statement of financial position, and on the other hand the 'Fixed asset' balance will rise by the same amount; recognizing the addition to the assets of the company. In this scenario the balance sheet totals remain unchanged as the same amount has been subtracted from 'bank' and added to 'fixed assets' all within the asset side.

However, if the asset is debt financed, it will increase the long term liability figure because 'bank loan' will be recognized. Hence the totals of the balance sheet will rise by the amount of the loan on the 'Capital and liabilities' side and the amount of the asset on the 'Asset' side.

Another impact is that the amount of depreciation charged to the Income Statement will be higher than $2,946,667 which was charged in the previous year because the new asset's depreciation will have to be added.

3 0
3 years ago
Royal Teas, a U.K.-based company employing just 30 people worldwide, generates $1.5 million in revenues of which 60 percent come
enot [183]

Answer:

B. mini-multinational firm.

Explanation:

Based on the information provided within the question it can be said that the Royal Teas company is most likely classified as a mini-multinational firm. This term refers to a firm that has about 100 employees or less and has operations in various different foreign companies worldwide. Which seems to be the case with Royal Teas since they have only 30 employees worldwide and have operations in Asian Countries, UK and other locations.

7 0
3 years ago
Read 2 more answers
A farmer is deciding whether or not to add fertilizer to his or her crops. If the farmer adds l pound of fertilizer per acre, th
uranmaximum [27]

Answer:

b. $20 per pound.

Explanation:

If the farmer adds l pound of fertilizer per acre, the value of the resulting crops rises from $80 to $100 per acre, then the increased value is $20 = ($100 - $80)

So in order to have profit, the cost of 1 pound of fertilizer must be less than the increased value of $20

4 0
3 years ago
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