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
dolphi86 [110]
3 years ago
12

Wiley Company purchased new equipment for $60,000. Wiley paid cash for the equipment. Other costs associated with the equipment

were: transportation costs, $1,000; sales tax paid $3,000; and installation cost, $2,500. The cost recorded for the equipment was:
A. $60,000
B. $61,000
C. $64,000
D. $66,500
Business
1 answer:
user100 [1]3 years ago
4 0

Answer:

The cost recorded for the equipment=$66,500

Explanation:

When dealing with the total cost of an equipment we take the purchase cost and other additional associated costs that come with the equipment. This can be expressed as;

T=P+A

where;

T=total cost

P=purchase cost

A=additional costs(transportation cost+sales tax+installation cost)

In our case;

T=unknown

P=$60,000

A=(1,000+3,000+2,500)=$6,500

replacing;

T=60,000+6,500=66,500

The total cost=$66,500

The cost recorded for the equipment=$66,500

You might be interested in
Flatter organizations today often reassign an employee to a new job at the same level, which is known as a(n)?
eimsori [14]

It is known as lateral transfer.

A transfer is a horizontal or lateral movement of a person from one job, section, department, shift, plant, or position to another in the same or another location with the same wage, status, and responsibilities.

A lateral move is a job movement in which a person transfers from one position to the another with minimal change in compensation, title, or level. However, even if you do not receive a promotion, a lateral transfer does not guarantee that one will not gain the new experiences or develop new abilities.

Therefore, the answer is lateral transfer.

To know more about lateral transfer click here:

brainly.com/question/25469999

#SPJ4

5 0
2 years ago
Zisk Co. purchases raw materials on account Budgeted purchase amounts are April, $80,000, May, $110,000, and June, $120,000. Pay
Amanda [17]

Answer:

A schedule of cash payments for April, May, and June is prepared.

Explanation:

The following image shows the calculation and explanation of the cash payment schedule.

3 0
2 years ago
Glassworks Inc. produces two types of glass shelving, rounded edge and squared edge, on the same production line. For the curren
jenyasd209 [6]

Answer:

Overhead Cost Category (Activity Cost Pool)       Cost

Supervision                                                             $2,160

Depreciation of machinery                                  $28,840

Assembly line preparation                                  <u> $23,000</u>

Total overhead                                                     $54,000

Supervision

Direct labor cost ($) $6,200 $11,800 $18,000

Depreciation of machinery

Machine hours 400 hours 800 hours 1,200 hours

Assembly line preparation Setups (number)

32 times 93 times 125 times

1)

overhead costs assigned to Rounded Edge

supervision = $2,160 x ($6,200 / $18,000) = $744

depreciation = $28,840 x (400 / 1,200) = $9,613

assembly line preparation = $23,000 x (32/125) = $5,888

total overhead costs = $16,245

overhead costs assigned to Squared Edge

total overhead costs = $54,000 - $16,245 = $37,755

2)

total costs assigned to Rounded Edge

materials $9,500

direct labor $6,200

overhead $16,245

total $31,945

cost per foot = $31,945 / 10,500 = $3.0424 per foot

total costs assigned to Squared Edge

materials $21,600

direct labor $11,800

overhead $37,755

total $71,155

cost per foot = $71,155 / 14,000 = $5.0825 per foot

3)   The average cost per foot of Rounded Edge decreased because lower overhead costs were allocated to their production.  

The average cost per foot of Squared Edge increased because higher overhead costs were allocated to their production.  

4 0
3 years ago
A. she was born on august? 4, 1950, and lived at 37 gesner street until she was sixteen.
Korolek [52]
??? C ???

whats the question here
4 0
3 years ago
A business usually becomes listed in the Fortune 500 during its _______ stage.
irga5000 [103]

its NOT D!!! Thanks for misleading me, after studying the material I found the correct answer to be A! I just took the PF keys to success test, trust me

5 0
3 years ago
Read 2 more answers
Other questions:
  • Reverse innovations are innovations that are adopted first in the Triad-based multinationals and then diffused around the world.
    8·1 answer
  • A trustee represents the: a. borrowing firm. b. federal government. c. bondholders. d. investment management company .
    10·1 answer
  • Dorglass Incorporated reported the following information about the production and sale of its only product during the first mont
    11·1 answer
  • Allure Company manufactures and distributes two products, M and XY. Overhead costs are currently allocated using the number of u
    7·1 answer
  • EA13.
    12·1 answer
  • Sweet Treats common stock is currently priced as $36.72 a share. The company just paid $2.18 per share as its annual dividend. T
    5·1 answer
  • If the price of gasoline is relatively high for a long time, consumers are more likely to buy fuel-efficient cars or switch to a
    15·1 answer
  • A big-picture view refers to the blueprint of a corporate facility. <br> True or False
    7·1 answer
  • are shifts in aggregate demand often the result of waves of pessimism or optimism among consumers and businesses
    11·1 answer
  • Those who oppose preferential hiring practices tend to argue that the only standard for awarding jobs is?
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!