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katrin [286]
3 years ago
9

Cost of a Fixed Asset Borges Inc. recently purchased land to use for the construction of its new manufacturing facility and incu

rred the following costs: purchase price, $125,000; real estate commissions, $9,500; delinquent property taxes, $1,800; closing costs, $3,500; clearing and grading of the land, $12,800. Required: Determine the cost of the land.
Business
1 answer:
tamaranim1 [39]3 years ago
7 0

Answer:

$152,600

Explanation:

The computation of the cost of the land is shown below:

Cost of the land = Purchase price + real estate commissions + delinquent property taxes + closing costs + clearing and grading of the land

= $125,000 + $9,500 + $1,800 + $3,500 + $12,800

= $152,600

We considered all the given information

hence, the cost of the land is $152,600

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A manufacturing department completed and transferred to finished goods a total of 50,000 units. They also had 2,500 units in end
Alinara [238K]

Answer:

The cost of units completed this period is $ 350,000

Explanation:

<u><em>Units Out of the Process Were:</em></u>

Finished Goods = 50,000

Ending Work In Progress = 2500

          <u>1.) Finished Goods Equivalent Units</u>

Materials : Finished Goods are 100% complete in terms of materials hence 50000 equivalent units

Conversion : Finished Goods are 100% complete in terms of conversion costs hence 50000 equivalent units

         <u> 2.) Cost of units completed Units</u>

Materials : 50000 × 5.75 =287500

Conversion : 50000×1.25 =62500

Total = 287500 + 62500 = $ 350,000

<em>*Note Ending Inventory is not relevant for this question</em>

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3 0
3 years ago
Of the following scenarios, which one is best suited to a non-linear presentation?
Aleksandr [31]
<span>C. A brainstorming session on new titles for a future publication series.</span>
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3 years ago
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A factory currently manufactures and sells 800 boats per year. Each boat costs $5,000 to produce. $4,000 of the per-boat costs a
spayn [35]

Answer:

B

Explanation:

Variable costs are incurred only when a boat is manufactured such as material and direct labor. Thus variable costs will remain unchanged since it will costs the exact same amount to manufacture another identical boat. If it costs $4,000 in material and direct labor to manufacture boat A it will cost $4,000 to manufacture boat B. Fixed costs are sunk costs that will be incurred whether they manufacture 800 or 1,000 boats per year. The rent and admin costs will remain unchanged no matter how many boats are manufactured. But the fixed cost per boat will change. The total fixed costs are $80,000 (800 boats x $1,000 per boat fixed cost). If the manufacturing rate is increased to 1,000 boats per year, the per boat fixed cost will decrease to $800. Fixed costs remain at $80,000/1,000 boats = $800.

4 0
3 years ago
Nu Furniture has sales of $241,000, depreciation of $32,200, interest expense of $35,700, costs of $103,400, and taxes of $14,63
Svetlanka [38]

Answer:

$122,963

Explanation:

NU furniture have a sales of $241,000

The depreciation is $32,200

The interest expense is $35,700

The costs is $103,400

The tax is $14,637

Therefore, the operating cash flow for the year can be calculated as follows

= Sales-costs-taxes.

= $241,000-$103,400-$14,637

= $122,963

Hence the operating cash flow for the year is $122,963

5 0
3 years ago
The Borio Company had an asset with an $8 book value and a $7 market value; it decided to distribute the asset as a property div
ankoles [38]

Answer:

The net income will decrease and also the total assets will also decrease

Explanation:

Here, we want to know the combined effect on net income and total assets of company that made a decision of distributing assets as a property dividend.

As the asset value is down the entry is asset (credit) and loss on asset (debit)

This will effect the net income as it will come down and total assets value also come down

7 0
3 years ago
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