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a_sh-v [17]
3 years ago
11

On January 1, 20X1, Cobalt Company purchased a building for $140,000 that has an estimated salvage value of $8,000 and an expect

ed useful life of ten years. 65. What is the depreciation expense for 20X1 using the double-declining-balance method?
Business
1 answer:
Assoli18 [71]3 years ago
4 0

Answer:

$28,000

Explanation:

Data provided in the question:

Cost of the building purchased = $140,000

Estimated salvage value = $8,000

Expected useful life = ten years

Now,

Annual rate of depreciation using the double-declining-balance method

= 2 × [ 100% ÷ (Useful life )]

= 2 ×  [ 100% ÷ 10 ]

= 2 × 10%

= 20% or 0.20

Therefore,

Depreciation expense for 20X1 = Cost of building × Rate of depreciation

= $140,000 × 0.20

= $28,000

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UP Forklifts sells two products, large forklifts and small forklifts. A large forklift sells for $80,000 per unit with variable
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Answer:

The break-even point in total units is 70

Explanation:

Particulars                          Large Fork Lift        Small Fork Lift        Total

Selling price Per Unit              $80,000                  $60,000

Less: Variable Cost Per Unit $24,000                   $11,000  

Contribution per unit               $56,000                  $49,000

Sales Mix                                       1                                 4

Total Contribution per            $56,000                 $196,000    $252,000

sales mix  

Contribution per unit of sales mix ($252000/5)                         $50,400

Fixed Costs                                                                                    $3,528,000

Break-even point in total units ($3,528,000 / 50,400)                      70

6 0
3 years ago
Fosnight Enterprises prepared the following sales budget: The expected gross profit rate is 30% and the inventory at the end of
Travka [436]

Answer:

$1,960

Explanation:

Complete Questin:

Fosnight Enterprises prepared the following sales budget:

Month Budgeted Sales

March $6,000

April $13,000

May $12,000

June $14,000

The expected gross profit rate is 30% and the inventory at the end of February was $10,000. Desired inventory levels at the end of the month are 20% of the next month's cost of goods sold. What is the desired beginning inventory on June 1?

Sales = 100% – 30%

Gross Profit = 70%

Cost of Goods Sold (CGS)

Therefore, June Sales= $14,000 × 70%

= 9,800 (CGS) × 20%

= $1,960

8 0
3 years ago
This year Army purchased $3,700 of equipment for use in her business. However, the machine was damaged in a traffic accident whi
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Answer: Check explanation

Explanation:

a. Since Amy bought the equipment for $3700 and sold the equipment for $690, the amount that Amy can deduct for the loss of the equipment will be:

= $3700 - $690

= $3010

b. Here, the amount that Army can deduct for the loss of equipment will be the lesser of the amount Amy bought the equipment which is $3700 or the cost of the repair which is $1370.

Therefore, $1370 will be deducted.

c. After the accident, Army could not replace the equipment so she had the equipment repaired for $4,300. What amount can Army deduct for the loss of the equipment?

Here, the amount that Army can deduct for the loss of equipment will be the lesser of the amount Amy bought the equipment which is $3700 or the cost of the repair which is $4300.

Therefore, $4300 will be deducted.

4 0
3 years ago
To retain its edge in the organic health food market, Natura has established a high-priority team comprised of senior executives
polet [3.4K]

Answer:

Cross-functional

Explanation:

It is a team composed of people with different skills necessary to complete the work.

A cross-functional device is one that:

   As a whole it is self-sufficient.

   He has the knowledge and skills necessary to build the part of the product that corresponds to him.

   Each member's specialty can be complemented by some other team member.

In a multifunctional development team, speed and productivity are triggered because, not depending so much on other people to do the job, request information, resources or requests from different managers, much time is saved in the process.

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