1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Mumz [18]
3 years ago
5

QS 8-3 Straight-line depreciation LO P1 On January 2, 2017, the Matthews Band acquires sound equipment for concert performances

at a cost of $69,200. The band estimates it will use this equipment for four years, during which time it anticipates performing about 200 concerts. It estimates that after four years it can sell the equipment for $1,000. During year 2017, the band performs 45 concerts. Compute the year 2017 depreciation using the straight-line method.
Business
1 answer:
Leni [432]3 years ago
5 0

Answer:

Annual depreciation= 17,050

Explanation:

Giving the following information:

Purchase price= 69,200

Useful life= 4

Salvage value= 1,000

To calculate the depreciation expense under the straight-line method, we need to use the following formula:

Annual depreciation= (original cost - salvage value)/estimated life (years)

Annual depreciation= (69,200 - 1,000)/4

Annual depreciation= 17,050

You might be interested in
Marv Company's direct labor costs for manufacturing its only product were as follows for October: Standard direct labor hours pe
Sonbull [250]

Answer:

$30,000 unfavorable.

Explanation:

Calculation for what The direct labor efficiency variance for October was

Using this formula

Direct labor efficiency variance = (Standard hours for actual production - Actual hours) × Standard rate per hour

Let plug in the formula

Direct labor efficiency variance=(5,000 × 2 - $207,000 ÷ $18.00) × $20

Direct labor efficiency variance= (10000 - $11,500) × $20

Direct labor efficiency variance= $1,500 × $20

Direct labor efficiency variance= $30,000 unfavorable

Therefore The direct labor efficiency variance for October was $30,000 unfavorable

3 0
3 years ago
If a company wished to alter a product's platform so that the product could be manufactured in a variety of forms, to meet local
kirill115 [55]

Answer:

Core components

Explanation:

In the product component model, the core component is the area concerned with what satisfies the needs and wants of customers.

If a company wishes to meet local differences in five foreign markets like un the question stated above, the core components contains what the customers in each of those five foreign markets are interested in.

The core components vary between markets. Market A, may like the color of the product in red and market B may like the color of the product in blue. So identifying these things and satisfying the needs of the customers would be done in the core component.

4 0
3 years ago
On January 1, 2017, the merchandise inventory of Glaus, Inc. was $1,600,000. During 2017 Glaus purchased $3,200,000 of merchandi
valentinak56 [21]

Answer: $1,800,000

Explanation:

The merchandise inventory of Glaus at December 31, 2017 will be:

Begining Inventory = $1,600,000

Add: Purchases = $3,200,000

Less: Cost of goods sold = $4,000,000

Add: Gross profit = 25% × $4,000,000 = $1,000,000

Ending Inventory = $1,800,000

The answer is $1,800,000.

8 0
3 years ago
Suppose that, in a competitive market without government regulations, the equilibrium price of milk is $2.50 per gallon. Complet
Darina [25.2K]

Answer and Explanation:

According to the scenario, computation of the given data are as follow:-

Price ceiling:-This is show the limit of the price on maximizing value of the product which is decided by government and his imposed group for customer.

Binding:-The binding price ceiling is below the equilibrium price.  

Unbinding:-The unbinding price ceiling is above equilibrium price.  

Price floor:-This is show the limit of the price on lower value of the product which is decided by government and his imposed group for customer. A price floor must be higher than the price equilibrium price in order to be effective.  

Binding:-The binding price floor is above the equilibrium price.  

Unbinding:-The unbinding price floor is below the equilibrium price.

It is given that the equilibrium price of milk is $2.50 per gallon.

Statement 1:-This is the example of price floor and binding because minimum price of $2.30 per gallon is decided.

Statement 2:-This is the example of price floor and binding because minimum price of $3.40 per gallon is decided for gasoline.

Statement 3:-This is the example of price floor and binding because teenagers are not hired due to minimum-wage laws.  

7 0
3 years ago
I prefer situations where everyone has to work together to reach a goal. Agree or Disagree?
Cloud [144]
Agree, since two minds work better than one.
4 0
4 years ago
Other questions:
  • Suppose that Verizon Wireless has hired you as a consultant to determine what price it should set for calling services. Suppose
    12·1 answer
  • Who is the current public protector of s.a?
    6·1 answer
  • Primo, Inc. issued $50,000, 5-year, 7% bonds that pay interest annually on January 1 when the going market interest rate was 6%.
    6·1 answer
  • A firm is reviewing a project with labor cost of $9.00 per unit, raw materials cost of $25.25 a unit, and fixed costs of $13,000
    14·1 answer
  • If the government requires a natural monopoly to price at marginal cost, Group of answer choices monopoly firms will earn zero e
    8·1 answer
  • fter a company chooses the modules they want to implement, they must decide on ____ options, which allow the customer to customi
    14·1 answer
  • Greater pricing power is most likely to result from greater:A. unused capacity.B. market concentration.C. volatility in market s
    9·1 answer
  • 13. You have started your first job today, and you want to buy a house within 3 years. You are currently saving for the down pay
    15·1 answer
  • MARKETING/BUSINESS helpppp
    14·1 answer
  • During which period does the fed appear to be most anti-inflation? explain your answer.
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!