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Misha Larkins [42]
3 years ago
9

Bramble Corp. purchased equipment for $48800. Sales tax on the purchase was $2928. Other costs incurred were freight charges of

$732, repairs of $427 for damage during installation, and installation costs of $813. What is the cost of the equipment
Business
1 answer:
erik [133]3 years ago
7 0

Answer:

Cost of equipment =  $52,887

Explanation:

<em>According to International Accounting Standards (IAS) 16, property plants and equipment, the cost of land includes all of the cost necessary to bring and make it ready for the intended use.  </em>

<em>These costs include purchase cost, fees and commission associated with the purchase transaction.  </em>

Here in this question the installation cost, sales taxes and repairs slab all fall within the definition of IAS 16

Hence cost of the equipment

48,800 + 2,928 + 732 + 427 = $52,887

Cost of equipment =  $52,887

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3 years ago
A company produces a single product. Variable production costs are $12.50 per unit and variable selling and administrative expen
wlad13 [49]

Answer:

value of ending inventory under variable production is $104375

Explanation:

given data

Variable production costs = $12.50 per unit

variable selling and administrative expenses = $3.50 per unit

Fixed manufacturing overhead totals = $41,000

Fixed selling and administration expenses total = $45,000

production = 4,500 units

sales = 3,850 units

to find out

the dollar value of the ending inventory under variable costing would be

solution

we find here ending inventory that is express as

ending inventory = production - sale

ending inventory = 4500 - 3850

ending inventory = 8350

so

variable production cost of 8350 units are

variable production cost = 8350 × $12.50

variable production cost = $104375

so value of ending inventory under variable production is $104375

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3 years ago
Amanda Roberts works a Monday Through Friday work week at a rate of 8.75$ per hour. She takes a 1 hour lunch break. If she clock
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$61.25 + $4.375 =$65.625
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Answer $459.375
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The rules of debit and credit for expense accounts are the same as the rules for asset accounts. true or false
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True hope this helps!!
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