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Sedaia [141]
3 years ago
13

1. Sid bought a new $1,500,000 seven-year class asset on August 2, 2020. On December 2, 2020, he purchased $900,000 of used five

-year class assets. If Sid elects Sec. 179 and does not take additional first-year depreciation, what is the maximum cost recovery deduction for these purchases for 2020
Business
1 answer:
egoroff_w [7]3 years ago
7 0

Answer:

Total cost recovery deduction = 1251450

Explanation:

Given the seven-year class asset bought by the Sid = $1500000

On 2nd December the five-year class asset bought = $900000

Now we have to find the cost recovery deduction for 2020.

900000/(900000 + 1500000) = 37.5% Thus, use half-year convention and avoid mid quarter

1500000 – 1,000,000 (Sec 179 limit) = 500000

500000 x 14.29% = 71450

900,000 x 20% = 180,000

1,000,000 + 71450 + 180,000

Cost recovery for 7 year asset = 1,071450

Cost recovery 5  year asset = 180000

Total cost recovery deduction = 1251450

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Manufacturing cycle time is best defined as the: length of the work shift, expressed in minutes per day. time it takes a unit to
luda_lava [24]

Answer:

time from raw materials receipt to finished product exit.

Explanation:

Manufacturing cycle time is best defined as the "time from raw materials receipt to finished product exit."

To explain better, manufacturing cycle time is the overall time of process that covers the total duration it takes the final production of commodities to be made. That is beginning from the inception stage which is usually raw materials through its conversion stage and eventually into finished goods.

5 0
3 years ago
Sutton Enterprises makes gadgets using a two-step process that involves machining and assembly, respectively. During the period,
MaRussiya [10]

Answer:

Total equivalent units= 11,890

Explanation:

Giving the following information:

Assembly Department completes 10,200 gadgets and transfers them to Finished Goods Inventory.

The Assembly Department has 2,600 gadgets in the process that are 65% complete for conversion.

<u>To calculate the equivalent units, we need to multiply the % complete for the number of units started:</u>

Units completed= 10,200

Units in ending inventory= 2,600*0.65= 1,690

Total equivalent units= 11,890

5 0
3 years ago
he nation of Pecunia had a current account deficit of ​$ billion and a nonreserve financial account surplus of ​$ million in 201
Andrei [34K]

Answer: -$500,000,000

Explanation:

The Balance of payment is an account that shows the difference between the money coming into a country as a result of transactions with other nations and money going out for the same reason.

Given the figures in the question, the Balance of Payments is;

= Current Account balance + Nonreserve financial account balance

= -1,000,000,000 + 500,000,000

= -$500,000,000

4 0
3 years ago
Explain why you wouldn't want to use the customer first or last name field as the primary key for a table. What problem could th
zlopas [31]

Answer:

There could be a customer with the same name or surname. It could cause a mess in your database if the customer wants payback for something and there will be the customer with the same name. I think that the primary key should be consisted of unique Customer's ID number.

Read more on Brainly.com - brainly.com/question/2870954#readmore

Explanation:

Asked on brainley already

4 0
3 years ago
Smith Machining makes three products. The company’s annual budget includes $1,048,000 of overhead. In the past, the company allo
Flauer [41]

Answer:

The computation is shown below:

Explanation:

a. The company overhead rate based on direct labor is

= Total Overheads ÷ Direct Labor Hours

= $1,048,000 ÷ 40,000

= $26.2 per hour

b) Overheads Rate using Activity Based Costing  is

= Cost ÷ Activity level

For  Order Processing, it is

= $226,800 ÷ 14,000 orders

= $16.2 per order

For setups, it is

=  $157850 ÷ 4,100 setup

= $38.5 per setup

For Milling, it is  

= $395,850 ÷ 20,300 machine hours

= $19.5 per machine hour

For Shipping

= $267,500 ÷ 25,000

= $10.7 per shipment

We simply applied the above formula so that the per unit could come

6 0
3 years ago
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