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kvv77 [185]
3 years ago
11

Iron Ore Corp. reported free cash flows for 2008 of $91 million and investment in operating capital of $199 million. Iron Ore li

sted $49 million in depreciation expense and $41 million in taxes on its 2008 income statement. What was Iron Ore's 2008 EBIT
Business
1 answer:
wolverine [178]3 years ago
6 0

Answer:

$282 million

Explanation:

Free cash flow = Operating Cash flow - Investment in operating cash flow

91 million = Operating cash flow - 199 million

Thus Operating Cash flow= 91 million + 199 million

Operating Cash flow = 290 million

OCIT= EBIT - Taxes + Depreciation

EBIT= OCIT + Taxes - Depreciation

EBIT= 290 million + 41 million - 49 million

EBIT = $282 million

Iron Ore's 2008 EBIT is $282 million

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3 years ago
Ralph’s Hardware updated its accounting system and agreed to purchase a computer system from a manufacturer, Bits and Bytes (BB)
Andrej [43]
Given:
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4 0
3 years ago
The master budget of Swifty Corporation shows that the planned activity level for next year is expected to be 50000 machine hour
densk [106]

Answer:

Total Manufacturing Overheads = $1198,333

Explanation:

<em>Machine Supplies would vary with the new level of machine hours. therefore flex the overheads to obtain the budgeted manufacturing overheads.</em>

<em>Note ; Depreciation remains constant as this is not affected by new level of machine hours</em>

<u>Total manufacturing overhead costs at a level of 60000 machine hours</u>

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Machine supplies ($250000/50,000×60,000)      208,333

Indirect materials  (180,000/50,000×60,000)        150,000

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Total Manufacturing Overheads                             1198,333

3 0
2 years ago
Pacific Ink had beginning work-in-process inventory of $762,960 on October 1. Of this amount, $313,920 was the cost of direct ma
BartSMP [9]

Answer:

Cost of goods transferred =$6,388,147.07

Cost of ending inventory=$1,068,478.93  

Explanation:

Equivalent unit of material = (120,000× 100%)+(39,000×75%)=149250

Cost per unit of material = Total cost /Total equivalent unit

=(313,920 +2,956,500)/149250 =21.912

Cost per conversion cost

Equivalent unit of conversion cost

= (120,000 × 100%) + ((39,000×35%)= 133,650

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Cost of Inventory = (75%*39,000×21.912)+(35%× 39,000×31.322)

                             = 1,068,478.93  

Cost of goods transferred =$6,388,147.07

Cost of ending inventory=$1,068,478.93  

=

3 0
2 years ago
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- forward contracts for currency to fix exchange rate

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3 years ago
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