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never [62]
3 years ago
6

: As a result of a thorough physical inventory, Railway Company determined that it had inventory worth $180,000 at December 31.

This count did not take into consideration the following facts: Rogers Consignment store currently has goods worth $35,000 on its sales floor that belong to Railway but are being sold on consignment by Rogers. The selling price of these goods is $50,000. Railway purchased $13,000 of goods that were shipped on December 27, FOB destination, that will be received by Railway on January 3. Determine the correct amount of inventory that Railway should report.
Business
1 answer:
kvv77 [185]3 years ago
8 0

Answer:

$215,000

Explanation:

Data provided in the question

The worth of inventory = $180,000

Goods worth on its sales floor = $35,000

The selling price of the goods = $50,000

Purchase value of the goods = $13,000

So by considering the above information, the correct amount of inventory reported is

= The worth of inventory + Goods worth on its sales floor

= $180,000 + $35,000

= $215,000

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Fowler Company is a priceminustaker and uses target pricing. Refer to the following​ information: Production volume 602 comma 00
frosja888 [35]

Answer:

The target fixed cost per year for Fowler company is $5,463,000

Explanation:

In this question, we are asked to calculate the target fixed cost for a company assuming that variable costs cannot be reduced and also all units produced are sold.

We start by calculating the revenue generated by the company.

602,000 units were produced and sold at a market price of $30. This means total revenue is;

602,000 * 30 = $18,060,000

We then proceed to subtract the desired operating income from the revenue. From the question, we can identify that the desired operating income is 17% of total asset, with total asset being $13,900,000

Desired operating income = 17/100 * $13,900,000 = $2,363,000

Subtracting desired operating income from recent yields: $18,060,000 - $2,363,000 = $15,697,000

To get the target fixed cost per year, we simply subtract variable cost from the difference.

Summarily, this mathematically means that; target fixed cost per year = Revenue - Desired operating income - variable cost

Variable cost = $17 per 602,000 units per year = 17 * 602,000 = $10,234,000

Target fixed cost per year = $15,697,000 - $10,234,000 = $5,463,000

8 0
3 years ago
Read 2 more answers
Green Roof Foods currently has a debt-to-equity ratio of .63, its cost of equity is 13.6 percent, and its pretax cost of debt is
Snowcat [4.5K]

Answer:

d.9.34%

Explanation:

The formula for the weighted average cost of capital is provided below as a starting point for solving this question:

WACC=(weight of equity*cost of equity)+(weight of debt*after-tax cost of debt)

weight of equity=1-debt %=1-50%=50%

weight of debt=50%

cost of equity=13.6%

after-tax cost of debt=7.8%*(1-35%)

after-tax cost of debt=5.07%

WACC=(50%*13.6%)+(50%*5.07%)

WACC=9.34%

The discount rate is computed based on the target or preferred capital structure

8 0
3 years ago
Fischer Company has outstanding 8,000 shares of $100 par value, 5% preferred stock, and 50,000 shares of $1 par value common sto
nikklg [1K]

Answer:

The appropriate solution is "$130,000".

Explanation:

The given values are:

No. of common shares outstanding

= 50,000

Dividend per share

= $1.80

No. of preferred shares outstanding

= 8,000

Dividend per share

= $5

Now,

The total dividend on common shares will be:

=  No. \ of \ common \ shared \ outstanding\times Dividend \ per \ share

On substituting the values, we get

=  50,000\times  1.80

=  90,000 ($)

The total dividend on preferred stock will be:

=  No. \  of \ preferred \ shares \ outstanding\times Divided \ per \ share

On substituting the values, we get

=  8,000\times 5

=  40,000 ($)

Hence,

The total dividend paid by company will be:

=  Total \ dividend \ on \ common \ shares +Total \ dividend  \ on \  preferred \ stock

=  90,000+40,000

=  130,000 ($)

Thus the above is the correct answer.

4 0
2 years ago
Go follow my meme page on Insta gram please I just started it
Roman55 [17]

Answer:

. ...........

Thank you

7 0
3 years ago
Read 2 more answers
On November 1, year 1, ABC, Inc., received a 3-month, 8%, $1,500 note receivable with interest and principal to be collected on
OverLord2011 [107]

Answer:

The amount of interest revenue that should be recorded for year 1 is $20.

Explanation:

  • A note otherwise known as promissory note is an unconditional written promise by a borrower to a lender (payee) to pay a certain agreed sum at a specific date.
  • The interest revenue on notes receivable is calculated by Principal x Interest rate x Time period
  • In the case of ABC, Inc., the interest revenue to be recorded for year 1 (November 1 - December 31) is calculated as follows: $1,500 x 8%/12 = $10 monthly. For the 2 months, it is $10 x 2 months = $20.
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2 years ago
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