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Serhud [2]
3 years ago
12

In Baer Food Co.’s Year 3 single-step income statement, the section titled Revenues consisted of the following: Net sales revenu

e $187,000 Discontinued operations: Income from operations of component unit (including gain on disposal of $21,600) 18,000 Income tax (6,000) Interest revenue 10,200 Gain on sale of equipment 4,700 Total revenues $213,900 In the revenues section of the Year 3 income statement, Baer Food should have reported total revenues of
Business
1 answer:
nikitadnepr [17]3 years ago
7 0

Answer:

Total revenue will be equal to $201900

Explanation:

We have given net sales revenue = $187000

Interest revenue = $10200

Gain on sale equipment = $4700

We have to find the to total revenue

Total revenue is given by

Total revenue = net sales revenue + interest revenue + gain on sdale equipment = $187000+$10200+$4700 = $201900

So total revenue will be equal to $201900

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The purchase of a used pickup for $9,000 is being considered. Records for other vehicles show that costs for oil, tires, and rep
oee [108]

The equivalent uniform annual cost is $4,500 with a 10,000 mileage and $5,510 with 15,000 mileage.

<h3>What does mileage cost?</h3>

The cost per mileage depends on the total miles traveled especially in a given period of time.  The distance is multiplied by the mileage rate to obtain the mileage cost.

<h3>Data and Calculations:</h3>

Cost of used pickup van = $9,000

Costs of oil, tires, and repairs = $990

Fuel costs per year for 10,000 miles = $990

Fuel costs per year for 15,000 miles = $1,495 ($990/10,000 x 15,000).

Salvage value after 5 years drops by 8% per mile per year

Deprecation expenses per year = $1,800 ($9,000/5)

Interest rate = 8%

Annual interest = $720

Equivalent uniform annual cost for 10,000 mileage = $4,500 ($1,800 + $990 + $990 + $720)

Equivalent uniform annual cost for 15,000 mileage = $5,510 ($1,800 + $1,495 + $1,495 + $720)

Thus, the equivalent uniform annual cost is $4,500 with a 10,000 mileage and $5,510 with 15,000 mileage.

Learn more about vehicle mileage calculations at brainly.com/question/24787693

7 0
2 years ago
Hitzu Co. sold a copier costing $6,500 with a two-year parts warranty to a customer on August 16, 2018, for $13,000 cash. Hitzu
Marina CMI [18]

Answer and Explanation:

1. The computation of warranty expenses is shown below:-

Warranty expense in 2018 = Warranty for a customer × Rate of sales

= $13,000 × 6%

= $13,000 × 0.06

= $780

2. The computation of estimated warranty liability is shown below:-

As we have calculated in part 1 so it is same that is

Estimated warranty liability in 2018 = $780

3. The computation of Warranty expenses in 2019 is shown below:-

In 2019 no warranty expense is there so the correct answer is $0

4. The computation of estimated warranty liability is shown below:-

Estimated warranty liability = Warranty expenses in 2018 - Repairs cost

= $780 - $121

= $659

5. The Journal entries is shown below:

a. Cash Dr, $13,000

            To Sales $13,000

(Being cash is recorded)

b. Cost of goods sold Dr, $6,500

        To Merchandise inventory $6,500

(Being cost of goods sold is recorded)

c. Warranty expense $650

         To Estimated warranty liability $650

(Being warranty expenses is recorded)

Estimated warranty liability Dr, $121

           To Repair parts inventory $121

(Being warranty liability is recorded)

4 0
2 years ago
A business acquires a new software​ product, installs it on its​ hardware, and converts the data to be processed by the software
Alja [10]

Answer:

D. the people were inadequately trained on how to use the new system

<u>Missing information:</u>

A. the network cannot support the data transmissions

B. the software is full of errors

C. the software performs the wrong tasks

D. the people were inadequately trained on how to use the new system

E. the hardware is not functional

Explanation:

Assuming the provider of the software act in well-being and provides a functional software that will not crash every time is used (E) and (B)

The most probable reason is that people didn't understand the new interface, mechanics or features of the new system thus, performing below expected as they may though their productivity was going to increase while in fact it decrease or the daily task are now more harded to complete

3 0
2 years ago
The required return on equity for an all-equity firm is 10.0 percent. They are considering a change in capital structure to a de
Sladkaya [172]

Answer:

The new cost of capital if this firm changes capital structure is 1.3

Explanation:

From the provided information:

All equity beta = 1

New D/E ratio = 0.5

Then, the new capital structure with levered beta is given by:

new capital structure  = All equity beta *(1 + D/E*(1 - tax rate))

                                     = 1*(1 + 0.5*(1 - 40%))

                                     = 1.3

Therefore, The new cost of capital if this firm changes capital structure is 1.3

5 0
3 years ago
Blueberry Baking Company produced 5,500 cakes that require 3 standard pounds per unit at a $3 standard price per pound. The comp
jekas [21]

Answer:

Dr. Work in process                  $49,500

Dr. Material Quantity Variance $4,500

Cr. Raw material Inventory        $49,500

Explanation:

First we need to calculate the Material usage variance

Standard Material = 5,500 cakes x 3 pounds = 16,500 pounds

Standard cost of Standard Material = 16,500 pounds x $3 = $49,500

Actual usage at standard cost = 16,650 pounds x $3 = $49,950

Material usage Variance = $49,950 - $49,500 = $450 unfavorable

When the actual cost incurred is more than the standard cost the variance is unfavorable.

3 0
3 years ago
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