Answer:
$138,000
Explanation:
The computation of the machine cost that would be reported is shown below:
= Purchase value of machine + shipping cost + installation cost + testing cost
= $126,000 + $3,000 + $4,000 + $5,000
= $138,000
At the time of reporting the machine cost, we have to consider all the cost that is related to the machine. Therefore, all the given cost is considered.
Answer:
Lifestyles
Explanation:
There are many reasons for this market to grow over the years, for example: Farmers' markets provide low-risk entry points for new or beginning farmers; educational opportunities for the general public; and increased access to fresh food for food-insecure community members.
Answer:
a. Auto insurance - Expenditure
b. Clothing for school - necessity
c. concert tickets - luxury
d. Dinner for two at the newest - luxury
e. Restaurant in town groceries - expenditure
f. music downloads - luxury
g. medical treatment for strep throat - necessity
h. Theme park tickets - luxury
i. New car - luxury
j. Rent - expenditure
K. school lunches - necessity
l. school ski trip - expenditure
m. Cell phone service - necessity
Explanation:
2. Necessity is anything without which survival of a person is not possible. Luxury is anything which adds value to the living standard of a person but survival without such thing is possible.
3. My weekly income is $200
4. Clothing $20
Debt repayment $50
entertainment $30
Food $45
Rent and utilites $25
transportation $10
Personal care items $5
Others $3
total weekly expenditure $188
5. $200 - $188 = $12
6. Yes i have $12 as saving at the end of the week.
Answer: $3,000
Explanation:
Given the following;
2/1/20:
Units purchased = 52
Cost = $47
3/14/20:
Units purchased = 90
Cost $50
5/1/20:
Units purchased = 70
Cost = $52
Total sold = 157
Cost per unit = $70
(157 × $70) = $10,990
Assuming periodic inventory using LIFO;
Under the LIFO Inventory principle, prices of last inventory purchased is associated with the price of goods sold until units or items in the inventory that inventory is exhausted, them move to the second most recent inventory and so on.
LIFO:
(70 × $52) + [(157 - 70) × $50] =
$3640 + (87 × $50)
$3640 + $4350 = $7,990
GROSS INCOME = $(10,990 - 7,990)
GROSS INCOME = $3,000