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4 years ago

The financial statements of Clearwater Furniture Company include the following items:

Business

1 answer:

Svetllana [295]4 years ago

6 0

Answer:

c. 0.39

Explanation:

The formula to compute the 2017 cash ratio is shown below:

= (Cash + Short-term Investments) ÷ (Total Current Liabilities)

= (63,500 + $51,000) ÷ (234,000)

= ($114,500) ÷ (234,000)

= 0.39

It shows a ratio between cash + cash equivalent and the current liabilities.

The other information which is given in the question is not relevant. Hence, ignored it

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BOGO Inc. has two sequential processing departments, roasting and mixing. At the beginning of the month, the roasting department

vagabundo [1.1K]

Answer:

Direct material cost of units transferred out = $42,596

Cost of ending work in process inventory = $8,174

Explanation:

This can be done using the following 3 steps:

Step 1: Calculation of equivalent unit of production (EUP) of materials

Note: See the attached excel file for the calculation of equivalent unit of production (EUP) of materials.

From the attached excel file, we have:

Physical unit = 24,680

EUP-material = 21,564

Step 2: Calculation of cost per EUP of materials

Cost per EUP of materials = Direct materials added during the month / EUP-Materials = $49,900 / 21,564 = $2.13

Step 3: Assignment of direct materials cost to the units transferred out amd the ending WIP

Cost of materials added to complete the beginning WIP = 924 * $2.13 = $1,967

Cost of units started and transferred out = 16,800 * $2.13 = $35,760

Direct material cost of units transferred out = Direct material cost of beginning WIP + Cost of materials added to complete the beginning WIP + Cost of units started and transferred out = $4,870 + $1,967 + $35,760 = $42,596

Cost of ending work in process inventory = 3,840 * $2.13 = $8,174

Download xlsx

6 0

3 years ago

Alby Ltd is a trading firm and has warehouses in various cities. One of its warehouses was damaged due to a fire. Which insuranc

OverLord2011 [107]

Answer:

A. Business interruption insurance

Explanation:

Business interruption insurance is a type of insurance that covers the loss of income that a business suffers after a disaster. The income loss covered may be due to disaster-related closing of the business facility or due to the rebuilding process after a disaster.

7 0

3 years ago

Read 2 more answers

Neiman Marcus uses time-released atomizers which spray a lavender scent in the lingerie department. The managers say it enhances

Natalija [7]

Answer:

Explanation:

Based on the information provided within the question it can be said that the design should positively influence consumer behavior. This is because it has been implemented specifically for this. Marcus hopes that the smell would put customers at ease and make them like the store as well as the products more, which in term would increase sales.

4 0

4 years ago

A municipality has a tax rate of 12 mills. a piece of real property in the municipality is assessed at $225,000 and has a fair m

AleksAgata [21]

A municipality charges 12 mills in taxes. The assessed valuation of a piece of real estate in the municipality is $225,000, but its fair market value is $250,000. The property has an annual tax obligation of $2700.

<h3>What is meant by tax liability?</h3>

The sum of money owed to the Internal Revenue Service (IRS) at the conclusion of each tax year is referred to as "tax liability." By pursuing deductions and adjusting their filing approach, many Americans set the objective of lowering their tax obligation.

Tax liability is the total amount of tax that people and companies owe to the federal, state, and local governments in a specific time frame. Tax liabilities are short-term obligations for firms that are listed on a balance sheet and paid off within a year.

One mill = 0.001

12 mills = 0.012

Taxes are based on assessed valuation, not fair market value.

0.012 $*$ $225,000 = $2,700.

Another way to think about it is that 1 mill = $1 of tax for each $1,000 of assessed value.

The complete question is:

A municipality has a tax rate of 12 mills. A piece of real property in the municipality is assessed at $225,000 and has a fair market value of $250,000. The annual tax liability on the property is:

A. $120

B. $300

C. $2,700

D. $3,000

To learn more about tax liability refer to:

brainly.com/question/24060890

#SPJ4

6 0

2 years ago

A dispute between labor and management at an automobile production plant has effectively stopped production for 2 months and has

Nonamiya [84]

Answer:

Arbitration

Explanation:

The arbitration process seems to be the best way to make the settlement process happen in this case. The arbitration process will be between labor and management as an impartial third party (arbitrator or arbitral tribunal) takes charge of the process. Once both parties have agreed to arbitraueb, the arbitrator then proffers powerful ways of ensuring dispute resolution in such a way that a mutual agreement is reached by both labor and management. Even though proferred solution shouldn't be compulsorily adopted by the conflicting parties.

5 0

3 years ago