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solong [7]
3 years ago
7

During 2011, Clark Company manufactured equipment for its own use at a total cost of $2,400,000. The project required the entire

year to complete and all costs were incurred uniformly throughout the year. At the beginning of the period, Clark was able to borrow $1,500,000 at 6% specifically for the purchase of materials and the manufacture of the equipment. The entire debt, with interest was repaid on December 31, 2011, replaced with a long-term loan. Throughout 2011, Clark Company had additional debt of $1,000,000 with a weighted average interest rate of 7%. If Clark Company capitalizes the maximum amount of interest allowable under GAAP, how much will Clark report as interest expense in 2011?
Business
1 answer:
Zanzabum3 years ago
8 0
Idk idk idk idk idk idk im sorry btw its just for the starting thing
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1 year ago
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Arte-miy333 [17]

Answer:

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Explanation:

<em>The income reported under absorption costing can be determined by  adjusting the income under variable costing for difference in profit.</em>

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<em>Step 2</em>

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<em>Step 3</em>

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<em>Step 4</em>

<em>Calculate Income under absorption costing</em>

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Income reported under absorption costing =$440,000

7 0
3 years ago
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What's the difference between product and brand?
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4 0
2 years ago
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Answer: 0.35

Explanation:

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