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valentinak56 [21]
3 years ago
7

The Mill Flow Company has two divisions. The Cutting Division prepares timber at its sawmills. The Assembly Division prepares th

e cut lumber into finished wood for the furniture industry. No inventories exist in either division at the beginning of 20X5. During the year, the Cutting Division prepared 60,000 cords of wood at a cost of $660,000. All the lumber was transferred to the Assembly Division, where additional operating costs of $6 per cord were incurred. The 600,000 boardfeet of finished wood were sold for $2,500,000.
Determine the operating income for each division if the transfer price from Cutting to Assembly is at cost - $11 a cord.
Business
1 answer:
shtirl [24]3 years ago
7 0

Answer:

Cutting $0

Revenue $1,480,000

Explanation:

Cutting Assembly

Revenue $660,000 $2,500,000

Cost of services:

Incurred $ 660,000 $ 360,000

Transferred-in $0 $660,000

Total $ 660,000 $1,020,000

Operating income $ 0 $1,480,000

60,000 cords x $11 = $660,000

Operating income:

Cutting

Revenue $660,000 - Total $ 660,000 =0

Assembly

Revenue $2,500,000- Total$1,020,000

=$1,480,000

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Answer:The Current Portion of debt in month 16 is $1461958.53 (rounded off to two decimals)

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The question requires us to calculate the balance of the loan in 16 months time. The Balance of the Loan is calculated by taking the loan amount and calculates the Future Value of the amount (in 16 months) and subtract the Future Value of Monthly Loan Payments.

The Monthly Payments were not provided in the question so the first thing we need to do is to calculate monthly payments

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Monthly Payments = 20219.949846

MMS Corp would pay $20219.949846 for the loan. we will not round of this answer because we want to get an accurate answer wen we calculate Loan Balance (current potion of debt in 16 months time)

Loan Balance (current potion of debt in 16 months time)

Loan Future Value Formulae = Loan Amount (1 + r)^n

Future Value of Monthly Payments = Payments ((1 + r)^n - 1)/r

Current Porting of debt = Loan Amount (1 + r)^n -  Payments ((1 + r)^n - 1)/r

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