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Answer:
$555,900
Explanation:
To determine the FVI amount that should be recorded, all closing costs must be added to the initial purchase price of the land
∴ = $490,000 + $29,000 + $1,900 + $6,000 + $29, 000
=$555,900.
Answer:
D. continuous review system
Explanation:
In the context of manufacturing it seems that the system being described would be a continuous review system. Like mentioned in the question this is a system that automatically adjusts the stock level in real time when a product moves in or out of stock, and automatically triggers an order for more stock as soon as the stock level hits a low quantity point is hit.
Answer:
Proposal A: 5,455 units
Proposal B: 5,770 units
Explanation:
The break-even point is the number of units required for the revenue to equal the total costs.
For proposal A:
Fixed Costs = $60,000
Variable Costs = $13 / unit
Selling Price = $24 / unit

For proposal B:
Fixed Costs = $75,000
Variable Costs = $11 / unit
Selling Price = $24 / unit

Rounding up to the next whole unit, the break-even points for proposal A and B, respectively, are 5,455 and 5,770 units.
Answer:
$1,350
Explanation:
Goodwill is the Excess of Cash Consideration over the Net Assets taken over. Net Assets taken over are measured at their Fair Market Value instead of Book Values at the Acquisition date.
Where,
Cash Consideration = $8,000
Fair Value of Net Assets Acquired ($6,000 + ) = $6,650
Therefore,
Goodwill = $8,000 - $6,650
= $1,350