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In-s [12.5K]
3 years ago
15

Onslow Co. purchased a used machine for $178,000 cash on January 2. On January 3, Onslow paid $2,840 to wire electricity to the

machine and an additional $1,160 to secure it in place. The machine will be used for six years and have a $14,000 salvage value. Straight-line depreciation is used. On December 31, at the end of its fifth year in operations, it is disposed of.
Business
1 answer:
Aleksandr-060686 [28]3 years ago
7 0

Answer:

First we must determine the total cost of the machine:

total cost = $178,000 + $2,480 + $1,160 = $181,640

Now we must find the depreciable value:

depreciable value = total cost - salvage value = $181,640 - $14,000 = $167,640

since the machine is going to be used for six years, the depreciation expense per year = depreciable value / useful life

depreciation expense per year = $167,640 / 6 years = $27,940

if it was depreciated during 5 years, the total depreciation expense would be: $27,940 per year x 5 years = $139,700

If the machine was depreciated before time, and sold only at its salvage value, Onslow Corp. should report a loss of $27,940.

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Answer:

The correct answer is (A)

Explanation:

The cost which is directly associated with converting materials into a finished product is known as direct labour cost. The cost of wages paid to employees is the direct cost involved in the manufacturing process. In other words, a cost that is directly involved in the production of goods and services is the direct cost, for example, direct cost, direct commission, direct material cost.

5 0
3 years ago
Which of the following is the best description of
olganol [36]

Answer:

D. Changing practices superficially to appear more  environmentally friendly to consumers than they  truly are.

Explanation:

Greenwashing is the act of corporate companies in their attempts to convey a false impression to their customers that their products are environmentally friendly. Through this process, they provide misleading information.

Companies provide misleading information to their customers, in making the impression that their products are more environmentally friendly than other products. Thus, <u>greenwashing can be described as changing the practices of the company/ brand superficially so that they appear more environmentally friendly than they really are to customers</u>.

4 0
2 years ago
Warephase Corporation has preferred stock outstanding. The stock has a 16% dividend rate. The stockâs market price is $80 per sh
alina1380 [7]

Answer:

The cost of the company’s preferred stock financing is 15.7%

Explanation:

In this question, we are asked to calculate a company’s cost of preferred stock financing.

Firstly, we calculate the annual dividend of the company.

Mathematically, that is equal to dividend rate * par value

From the question, dividend rate is 16% while par value is $75

Thus, Annual dividend is 16/100 * 75 = $12

To get the cost of preferred stock, we employ a mathematical approach.

Mathematically, cost of preferred stock = Annual dividend/(current price - floatation cost)

From the question, current price is $80 while the floatation cost is $3.5 per share.

Cost of preferred stock = 12/(80-3.5)

= 12/76.5 = 0.157

This is same as 15.7%

5 0
2 years ago
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The answer is career fair.
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2 years ago
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Cosi Company uses a job order costing system and allocates its overhead on the basis of direct labor costs. Cosi expects to incu
fenix001 [56]

Answer:

156.6%

Explanation:

Given:

Cosi Company's Incurred over head for the next period = $830,000

Expected labor hours = 53,000

Cost of labor = $10.00 per hour

Thus,

Total labor cost = 53,000 × $10.00 = $530,000

Now,

the Cosi Company's predetermined overhead rate will be calculated as:

Predetermined overhead rate =  Incurred overhead / Total labor cost

on substituting the respective values, we get

Predetermined overhead rate = ( $830,000 / 530,000 ) = 1.566

or

Predetermined overhead rate = 1.566 × 100% = 156.6%

4 0
3 years ago
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