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
scoundrel [369]
3 years ago
6

Blossom Company purchased machinery with a list price of $88000. They were given a 10% discount by the manufacturer. They paid $

400 for shipping and sales tax of $4900. Blossom estimates that the machinery will have a useful life of 10 years and a residual value of $30000. If Blossom uses straight-line depreciation, annual depreciation will be___________.
Business
1 answer:
frez [133]3 years ago
8 0

Answer:

$5,450

Explanation:

Data provided in the question:

List price of the machinery = $88,000

Discount offered = 10%

Amount of discount = 10% of $88,000

= 0.1 × $88,000

= $8,800

Shipping paid = $400

Sales tax = $4,900

Useful life = 10 years

Residual value = $30,000

Now,

Total cost of the machine = List price - Discount + Shipping + sales tax

= $88,000 - $8,800 + $400 + $4,900

= $84,500

Annual depreciation using straight line method is given as:

= \frac{\textup{Total cost - Residual value}}{\textup{Useful life}}

= \frac{\textup{84,500 -30,000 }}{\textup{10}}

= $5,450

You might be interested in
If an industry consisting of two firms produces a total of 12 units, the market price is $10. If 13 units are produced, the pric
Olenka [21]

Answer: $3; $6

<span>The two firms formed a cartel which means they agree to produce same with the purpose of maintaining prices at a high level and restricting competition.</span> In the case of two firms who agree on producing 6 units but one cheat, this will be the effect:

<span><span>At 6 units each, and a market price of $10, each firm will have a gross sale of $60. If one cheats and produced 7, the market price will fall to $9, resulting to $63 (7*9)  and a gain of $3. The noncheating firm will acquire a sale of $54 (6*9) only or a loss of $6. The answer is  </span><span>$3; $6.</span></span>
8 0
3 years ago
Which department manages the process of converting or transforming resources into goods or services?
katovenus [111]

Answer:

The answer is operation or production department

Explanation:

One of the Operation or production department's function is to convert inputs of factors of production (e.g. raw materials or resources) into output or finished goods and services.

Operation or production department in any organization is saddled with this responsibility.

8 0
3 years ago
Which one of the following statements is correct if a firm has a receivables turnover of 36.5? Group of answer choices It takes
Free_Kalibri [48]

Answer:

The firm collects on its sales in an average of 10 days

Explanation:

if the receivables turnover is 36.5 it means it colect his accounts 36.5 times per year

we can convert this into a days metric:

<em>the days account is outstanding:</em>

365 days per year / we collect 36.5 per year = 10 days to collect an account on average

The acounts are collected every ten days on average.

7 0
3 years ago
Business-to-consumer companies are more likely to emphasize a ________ promotion strategy, while business-to-business companies
Finger [1]

Answer:

Letter A is correct. Pull; Push.

Explanation:

<u>The pull strategy </u>is most emphasized by business-to-consumer companies because it is used to attract consumers through intense marketing and advertising communication, whose primary goal is to create brand value through customer loyalty.

<u>The push strategy</u> is more commonly used in business-to-business as it means pushing and bringing the products or services to the customer, is a strategy that involves direct selling usually exposed to the potential customer in showrooms and involves negotiations with retailers for example, offering discounts and special conditions to sell your products at your points of sale.

5 0
3 years ago
U.S. sugar import quotas have existed for more than 50 years and preserve about half of the U.S. sugar market for domestic produ
docker41 [41]

Answer:

United States continue to have quotas because it increases the price of imported Sugar and thereby reducing the quantity demanded.

Explanation:

To start with, quotas is a restriction imposed by a government. Quotas limits the quantity of a good that can be imported into a country during a specific period of time. In this question, an import license specifies the quantity of Sugar that be brought into (imported) the USA.

United States continue to have these quotas because import quotas reduces the supply of imported goods (Sugar), thereby, preventing an uncontrolled importation of Sugar. This raises the price of imported Sugar against the price of locally produced Sugar which is lower in price. Intuitively, consumers will go for lower price (locally produced Sugar) which satisfies the law of demand for normal goods.

Therefore, it helps the domestic producers to stay in the competition.

3 0
3 years ago
Other questions:
  • The total amount of money that businesses take in by selling goods and services is called ________.
    11·2 answers
  • How can changes in technology or consumer demand make it difficult for people to get jobs?
    8·1 answer
  • Firms with a(n) _________________ orientation spend little on marketing research and planning, target customers indiscriminately
    5·1 answer
  • Knowledge Check 03 During January, Dream House Builders, Inc. incurred $550 of actual indirect materials costs, as supported by
    12·1 answer
  • Bob was recently promoted to the engineering manager position because of his knowledge and ability to perform all the functions
    14·1 answer
  • Harry and Meghan have considered starting their own business but are concerned about the possibility of losing even their person
    15·1 answer
  • Jing-Sheng facilitated a hiring committee for his advertising company. Six employees (including two managers) met together to di
    15·1 answer
  • Any one Indian here I'm from India.​
    13·1 answer
  • When did the court cases reach the Supreme Court?
    14·1 answer
  • a high uncertainty avoidance ranking indicates that the country has a high tolerance for uncertainty and ambiguity.
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!