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3 years ago

Ames Trading Co. has the following products in its ending inventory.

Business

1 answer:

Jobisdone [24]3 years ago

7 0

Answer:

Product Qty Cost Market LCM Result

Mountain Bikes 30 $700 $650 30*650 $19,500

Skateboards 26 $230 $260 26*230 $5,980

Gliders 12 $870 $830 12*830 $ 9,960

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Based on the following adjusted trial balance: Peak Corporation Adjusted Trial Balance As of December 31, 2018 Debit Credit Cash

ivanzaharov [21]

Answer:

Determine the amount that will be reported as retained earnings on the post-closing trial balance.

Retainend earnings final___________30000

Explanation:

Cash__________________800

Account Receivable______ 200

Inventory_______________2500

Building________________30000

Accunulated depreciation_______________ 3000

Notes payable_________________________ 500

Common stock_________________________21000

Retainend Earnings_____________________ 5000

Dividens________________1000

Revenue_____________________________ 7000

Selling and administration_ 1000

Insurance expense_______ 1000

36500 36500

Retainend earnings______ 1000 26000

Retainend earnings initial_________ 25000

Net income_____________2000____7000

5000

Retainend earnings final___________30000

8 0

2 years ago

Sheridan Publishing identified the following overhead activities, their respective costs, and their cost drivers to produce the

Ber [7]

Answer:

Deluxe= $4.25 per book

Moderate= $4.25 per book

Economy= $4.25 per book

Explanation:

Giving the following information:

Activity (Cost) Cost Driver Delux Moderate Economy

Machine maintenance ($330,000) machine hours 250 750 1,000

Setups ($630,000)

Packing ($166,000)

Photo development ($574,000)

First, we need to calculate the total overhead cost:

Total overhead= 330,000 + 630,000 + 166,000 + 574,000= 1,700,000

Now, we can calculate the estimated manufacturing overhead rate to allocate overhead to each book type.

The allocation base is machine-hours.

Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Estimated manufacturing overhead rate= 1,700,000/ 2,000= $850 per machine hour.

Now, we can allocate overhead to each book:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Deluxe= $850*250hours= $212,500

Moderate= $850*750hours= $637,500

Economy= $850*1,000= $850,000

Based on the number of units, we can calculate the unitary overhead:

Deluxe= $212,500/50,000= $4.25 per book

Moderate= $637,500/150,000= $4.25 per book

Economy= $850,000/200,000= $4.25 per book

4 0

3 years ago

A municipal bond is paying a 6% annual yield. An equivalent risk corporate bond is paying 7%. Investors with a tax rate of ____

faltersainse [42]

Answer:

The correct answer is 25%

Explanation:

To calculate the value of the tax rate to decide on the municipal bond, we must take the information of the annual yield minus the expenses associated with this product, on the interest of the corporate bond:

Tax Rate = 1 - (0.0525 / 0.0700) = 25%

In this way, 25% or more, is a percentage of the tax rate that can make them decide on the municipal bond option.

6 0

2 years ago

Do you agree with the following statement: AVC and MC intersect at the minimum of marginal cost. a. Yes, since an upward sloping

insens350 [35]

Answer: c. No, since the MC and AVC curve intersect at the minimum of AVC

Explanation:

Marginal cost is the cost of producing one extra unit of a product while average cost is the average of all the units produced so far. Therefore, when Marginal cost is low, it pulls the average costs down with it because it will be lower than the Average costs.

However, as Marginal costs start to rise, average cost will still be low because it is taking into account the lower previous marginal costs. Marginal cost will then keep rising until it intersects the average costs at it's minimum. Once this happens Average cost will start being pulled up because the current high costs will on average eclipse the current low costs.

3 0

3 years ago

Question 7. The corporate charter of Gagne Corporation allows the issuance of a maximum of 100,000 shares of common stock. Durin

ANTONII [103]

Answer:

Share Authorized = 100,000 Shares

Share issued = 70,000

Share outstanding = 66,000 shares

Explanation:

Data provided in the question:

Number of shares Gagne Corporation allows the issuance = 100,000 shares

Number of shares Gagne sold to shareholders = 70,000

Number of shares reacquired by Gagne = 4,000

Now,

Share Authorized = Number of shares Gagne Corporation allows the issuance

= 100,000 Shares

Share issued = Number of shares Gagne sold to shareholders

= 70,000

Share outstanding = Shares issued - Number of shares reacquired

= 70,000 - 4,000

= 66,000 shares

6 0

3 years ago