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Luda [366]
3 years ago
15

Waterway Frame Camera Shop uses the lower-of-cost-or-net realizable value basis for its inventory. The following data are availa

ble at December 31.
Item Units Unit Cost Market Value
Cameras:
Minolta 9 $170 $154
Canon 6 151 153
Light meters:
Vivitar 12 122 110
Kodak 20 120 135
Determine the amount of the ending inventory by applying the lower-of-cost-or-net realizable value basis.
Business
1 answer:
Ludmilka [50]3 years ago
5 0

Answer:

$6,012

Explanation:

The computation of the amount of ending inventory is shown below:

<u>Cameras          Unit               Cost         market value         LCM     Total value </u>

Minolta             9                    $170        $154                       $154     $1,386

Canon              6                    $151         $153                       $151     $906

Light meters

Vivitar              12                   $122        $110                       $110       $1,320

Kodak              20                   $120       $135                     $120        $2,400

Total                                                                                                     $6,012

The quantity should be multiplied by cost or market value whichever is lower

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Select the phrase that correctly completes the statement.
yuradex [85]

Answer:

1. Option F: Worker Safety

2. Option A:be short and direct as possible to be efficient

Explanation:

A cafeteria kitchen should be as safe as possible. This is because in such a busy environment as this, the safety of workers can be put at risk due to high risk equipment such as gas stoves, burners, lighters etc. Therefore, the design of the kitchen should have the worker safety in mind first. Of course, the while kitchen should be safe for all the workers to work in there.

The circulation patterns should be as short and easily accessible. This makes it possible for the workers to access emergency equipment and emergency routes such as the emergency exit etc. In addition, it reduces unnecessary movement.

4 0
3 years ago
if increasing the number of goods produced is one way to increase productivity what is the other way to increase productivity
yKpoI14uk [10]

Answer:

The way they're produced.

Explanation:

I can give an example. Henry Ford and his Model T. he wanted to increase the amount of cars his factory produced, and he wanted to make the production easier, and more affordable. His first step, was to make the production easier. He invented the conveyer belt, which stopped at each worker for an enough amount of time to let them complete their individual job. this's a great example

5 0
3 years ago
Meenach Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on direct labor-ho
Masja [62]

Answer:

$861

Explanation:

Fixed predetermined overhead rate = Total fixed overhead cost/Total labor hours

= $ 74,000/74,000 = $ 1 PLH

Variable predetermined overhead rate = $ 3.10 PLH

Applied overhead rate = Fixed predetermined overhead rate + Variable predetermined overhead rate = $ 1 + $ 3.10 = $ 4.1 PLH

Applied overhead cost for Job X387 = Applied overhead rate x No. of labor hours required for job X387 = $ 4.1 x 210 = $ 861

8 0
3 years ago
Read 2 more answers
Hassock Corp. produces woven wall hangings. It takes 3 hours of direct labor to produce a single wall hanging. Hassock standard
NISA [10]

Answer:

Direct labor time (efficiency) variance= $2,080 unfavorable

Explanation:

Giving the following information:

Standard= 3 hours of direct labor per unit

The standard labor cost is $13 per hour.

During August, Hassock produced 9,000 units and used 27,160 hours

<u>To calculate the direct labor efficiency variance, we need to use the following formula:</u>

Direct labor time (efficiency) variance= (Standard Quantity - Actual Quantity)*standard rate

Direct labor time (efficiency) variance= (3*9,000 - 27,160)*13

Direct labor time (efficiency) variance= $2,080 unfavorable

5 0
2 years ago
Huprey Co. is the defendant in the following legal claims. For each of following claims, does Huprey (a) record a liability, (b)
salantis [7]

Answer:

1. Huprey can resonably estimate that a pending lawsuit will result in damages of $1,280,000, it is probable that Huprey will lose the case.

  • Record a liability.  

2. It is reasonably possible that Huprey will lose a pending lawsuit. The loss cannot be estimable.

  • Disclose in notes.

3. Huprey is being sued for damages of $2,400,000. It is very unlikely (remote) that Huprey will lose the case.

  • Have no disclosure.

Explanation:

Contingent liabilities must be recorded only when it is probable that the liability will happen and you can estimate the associated costs.

When contingent liabilities are only reasonably possible or you cannot estimate the amount, they must be included in the footnotes of the financial statements.

When contingent liabilities are not reasonably possible, nothing needs to be disclosed.

7 0
3 years ago
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