1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
dmitriy555 [2]
2 years ago
14

Q 6.30: Rollins Technology is determining ending inventory. In the inventory process, Rollins inadvertently miscategorized a $9,

600 shipment of FOB destination goods in transit to a customer as FOB shipping point. What should Rollins do to correct this error?
Business
1 answer:
Musya8 [376]2 years ago
5 0

Answer:

Rollins Technology should the $9,600 inventory to the value of their inventory count

Explanation:

FOB destination means the goods become the buyer's when they are at delivery point,which means that until then they are goods of Rollins Technology

Mis-categorizing such goods as FOB shipping point implies that they were assumed to belong to the owners once shipped,all that is required is for the company to restate the value of the goods in transit by adding it back to the its inventory.

You might be interested in
Camper's Edge Factory produces two products: canopies and tents. The total factory overhead is budgeted at $750,000 for the year
Pavel [41]

Answer:

Camper's Edge Factory

Departments                                  Cutting             Sewing

a. The total number of budgeted

   direct labor hours for the year  60,000            70,000

b. Products                                     Canopy          Tent

   Factory overhead per unit         $17.50            $40

Explanation:

a) Data and Calculations:

Total budgeted factory overhead = $750,000

                                               Canopy        Tent     Total

Direct labor hours  

Cutting                                       2                     1         3

Sewing                                       1                     6         7

Total direct labor hours            3                    7

Budgeted production units 20,000          10,000

Departments                              Cutting                        Sewing

Budgeted factory overhead  $350,000                     $400,000

Direct labor hours:

Canopy                                  40,000 (20,000 * 2)          10,000 (10,000 * 1)

Tent                                       20,000 (20,000 * 1)          60,000 (10,000 * 6)

Total direct labor hours        60,000                              70,000

Overhead allocation rates     $5.833                               $5.714

                         ($350,000/60,000)                              ($400,000/70,000)

Overhead per unit              $17.50 ($5.833 * 3)            $40 ($5.714 * 7)

               

5 0
2 years ago
Marilyn Simms died with a $200,000 life insurance policy. Her husband, Jack, was the primary beneficiary and their children, Mim
loris [4]

Answer:

a) $200,000 to Jack

Explanation:

Data provided in the question  

Life insurance policy amount of Marilyn Simms  = $200,000

The primary beneficiary = Jack

The contingent beneficiaries = Their children

Now, the distribution of the policy could be taken by only Jack as he is her husband plus he is also a primary benefit of her life insurance policy,

So, the whole amount i.e $200,000 is distributed to Jack

8 0
3 years ago
Research and development, production, marketing and sales, and customer service are all examples of _____.
Vinil7 [7]
<span>They are all examples of primary activities. They are a part of Michael Porter's value chain, and they provide an edge to the company that performs them. They aim to make a value that outvalues the cost of performing the activities, and make the company a profit as a result.</span>
7 0
3 years ago
Alex invested $10,500 in an account that pays 6 percent simple interest. how much money will he have at the end of four years?'
Marizza181 [45]
The amount generated from the investment with simple interest is calculated through the equation,

           F = P x (1 + in)

where F is the future amount, P is the present worth, i is the decimal equivalent of the given interest and n is the number of interest period.

From this item it can be identified that,
   P = $10,500
   i = 0.06
   n = 4

Substituting the known values,

    F = ($10,500) x (1 + (0.06)(4)) 
 <em>   F = $13020</em>

Therefore, after four years, the amount of money that Alex will have is $13,020. 
4 0
3 years ago
A Japanese company has a bond outstanding that sells for 87 percent of its ¥100,000 par value. The bond has a coupon rate of 4.3
PSYCHO15rus [73]

Answer:

YTM = 12.66%

Explanation:

FV = ¥100,000

PV = 0.87 x  ¥100,000

PV=  ¥87,000

Coupon payment = 4.3% x ¥100,000

Coupon payment = ¥4300 per year

N = 18 years

YTM = ?

We would simply plug these values into a financial calculator

https://www.calculator.net/finance-calculator.html?ctype=returnrate&ctargetamountv=1000000&cyearsv=18&cstartingprinciplev=87000&cinterestratev=6&ccontributeamountv=4300&ciadditionat1=end&printit=0&x=0&y=0

YTM = 12.66%

8 0
2 years ago
Other questions:
  • Fox Co. reported a retained earnings balance of $800,000 at December 31, 20x1. In August 20x2, Fox determined that insurance pre
    12·1 answer
  • _________ include management's commitment to the ethics program and the methods or system for ethics evaluation.
    10·1 answer
  • For an organization to grow its market share, it must: a.advertise using multimedia b.lower prices c.exceed minimum standards of
    15·1 answer
  • The workers at State Hospital, a public sector employer, and Acme Inc, a private employer, are subject to speech censorship and
    15·1 answer
  • The Tax Reform Act of 1986 eliminated the deductibility of interest payments on consumer debt (mostly credit cards and auto loan
    12·1 answer
  • Video news releases are ______. Group of answer choices None of the above options is correct produced by PR agencies and compani
    7·1 answer
  • Summarize three reasons why it is important to use critical thinking.
    10·1 answer
  • Please please.pleas help me
    14·1 answer
  • You have a handyman services business. You have the following financial information for the month. Initial cash balance: $1,500
    10·2 answers
  • In reviewing the purchase request package, you should ensure finding is available and?
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!