Answer: $14,985
Explanation:
Using the Units-of-Production method means that the asset is depreciated based on how many times it is used.
The formula is;
= ( Cost - Salvage Value)/Total Usage
= (67,600 - 1,000) / 200
= $333 per concert
Equipment depreciates by $333 per concert.
First year has 45 concerts;
= 333 * 45
= $14,985
Based on the <u>specific identification inventory method</u>, the cost of goods sold would equal $65 ($30 + $35) and not $75 as indicated in the question.
Specific identification is an inventory costing method that tracks the cost of goods to the exact items that are sold. This method is used where it is possible to track sold items individually, especially when the sold items are separately identifiable.
Specific identification is just one method in inventory costing. Others are <em>Last-in, First-out (LIFO), First-in, First-out (FIFO), and Weighted-Average Cost Methods.</em>
Thus, the inventory method that will produce the cost of goods sold under this scenario is the specific identification method.
Learn more: brainly.com/question/17204604
Answer:
Top-down processing.
Explanation:
Top-down processing is the process by which the human brain uses information that it has been exposed to through one or more sensory systems. It is a cognitive process that starts with our thoughts and flows to lower level senses.
Information is processed through our senses and the brain creates perceptions of these information.
In this instance has been working as a tea taster for 15 years, so she has been exposed to various tea flavour through sensory organs of taste. When she visits tea gardens in the country of Bodonia to grade teas according to their quality and taste, she uses her previous knowledge of teas to grade the Bodonia teas.
Answer:
Direct material= $67,188
Explanation:
Giving the following information:
During October, the company budgeted for 5,100 units, but its actual level of activity was 5,090 units. The company has provided the following data concerning the formulas to be used in its budgeting:
Direct Materials $13.20
Direct material= 5,090*13.20= $67,188
Answer:
![\left[\begin{array}{ccc}$Net Sales&&1950000\\$Cost of Goods sold&&1200000\\$Gross Profit&&750000\\$Operating Expenses:&&\\$selling expenses&&95,000\\$Administrative expenses&&70,000\\$Operating Profit&&585000\\\\$Other Revenues and Gains&&\\$Dividend Revenue&30000&\\$Interest Revenue&20000&50000\\&&635000\\$Other expenses and losses&&\\$Interest expense&45000&\\$goodwill impairment&75000&120000\\Income before Income tax&&515000\\\end{array}\right]](https://tex.z-dn.net/?f=%5Cleft%5B%5Cbegin%7Barray%7D%7Bccc%7D%24Net%20Sales%26%261950000%5C%5C%24Cost%20of%20Goods%20sold%26%261200000%5C%5C%24Gross%20Profit%26%26750000%5C%5C%24Operating%20Expenses%3A%26%26%5C%5C%24selling%20expenses%26%2695%2C000%5C%5C%24Administrative%20expenses%26%2670%2C000%5C%5C%24Operating%20Profit%26%26585000%5C%5C%5C%5C%24Other%20Revenues%20and%20Gains%26%26%5C%5C%24Dividend%20Revenue%2630000%26%5C%5C%24Interest%20Revenue%2620000%2650000%5C%5C%26%26635000%5C%5C%24Other%20expenses%20and%20losses%26%26%5C%5C%24Interest%20expense%2645000%26%5C%5C%24goodwill%20impairment%2675000%26120000%5C%5CIncome%20before%20Income%20tax%26%26515000%5C%5C%5Cend%7Barray%7D%5Cright%5D)
![\left[\begin{array}{ccc}$Income before Income tax&&515000\\$Income tax&&154500\\$Income from continued operations&&360500\\&&\\$Discountinued&&\\$Gain at disposal&300000&\\$Loss from operations&220000&80000\\$Income tax&&24000\\$Income from Discontinued operations&&56000\\&&\\$Net Income&&416500\\$Outstanding Shares &20,000&\\EPS&&20.825\\\end{array}\right]](https://tex.z-dn.net/?f=%5Cleft%5B%5Cbegin%7Barray%7D%7Bccc%7D%24Income%20before%20Income%20tax%26%26515000%5C%5C%24Income%20tax%26%26154500%5C%5C%24Income%20from%20continued%20operations%26%26360500%5C%5C%26%26%5C%5C%24Discountinued%26%26%5C%5C%24Gain%20at%20disposal%26300000%26%5C%5C%24Loss%20from%20operations%26220000%2680000%5C%5C%24Income%20tax%26%2624000%5C%5C%24Income%20from%20Discontinued%20operations%26%2656000%5C%5C%26%26%5C%5C%24Net%20Income%26%26416500%5C%5C%24Outstanding%20Shares%20%2620%2C000%26%5C%5CEPS%26%2620.825%5C%5C%5Cend%7Barray%7D%5Cright%5D)
Explanation:
The ommited depreciation expense and prior years change will not impact the current income statemnt these wil go directly against retained earnings as we will in vilation of the accounting principle of mathcing the expenses at the time they occur.
First, we solve for gross profit
Then, for other revnues and expense and the income from continued operations
The discounted operations are listed net of taxes
Then, we solve for the net incoem and EPS which si the quotient between the net income and the earnings per share.
