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
Naily [24]
3 years ago
6

Aspen Ore purchased a vein of coal ore for $5,300,000. It is estimated that 32,000,000 tons of ore are available to be extracted

. The estimated depletion expense for this year’s extraction of 2,790,000 tons of ore is: (Round any intermediary calculations to the nearest cent and your final answer to the nearest dollar.)
Business
1 answer:
emmasim [6.3K]3 years ago
5 0

Answer:

$462,094

Explanation:

Depletion expense is a charge against profits for the use of natural resources. It is calculated by multiply the number of consumed units of the natural resources by the cost per unit.

Cost per unit = Total cost / total number of units expected to be extracted = $5,300,000 / 32,000,000 = 0.165625

Depletion expense = Cost per unit x  extracted units =  0.165625 x 2,790,000 = $462,094

You might be interested in
Why is the subject line of a business email important
Airida [17]

Answer:

The subject line often determines whether an email is opened and how the recipient responds. An email with a blank subject line will likely get deleted, lost, or immediately irritate the recipient, who is forced to open the email to figure out what it's about.

5 0
2 years ago
11.Jones and company had a balance in their retained earnings account at the end of 2020 in the amount of 990,000. They have for
Allisa [31]

Answer:

$210,000 and $1,200,000

Explanation:

The computation is shown below:

Given that

Ending Balance in retained earnings = $990,000

Net income = $350,000

Dividend paid in 2021 is

= 40% of net income

= 40% of $350,000

= $140,000

So, the Addition to retained earning is

= Net income - dividends

= $350,000 - $140,000

= $210,000

Now the ending balance in retained earnings is

= Beginning balance in retained earnings + addition to retained earnings

= $990,000 + $210,000

= $1,200,000

8 0
4 years ago
Is bitcoin going to crash ?
yanalaym [24]
Yeah, actually probably. I bet.
3 0
3 years ago
Read 2 more answers
A decrease in the price of domestically produced industrial robots will be reflected in a. both the GDP deflator and the consume
andrezito [222]

Answer:

The correct answer is option c.

Explanation:

A consumer price index measures the change in the price level of weighted average of a basket of goods and services purchased by the consumers.  

GDP deflator measures the change in the price of all domestically produced goods and services.  

A change in the price of domestically produced industrial robots will be included in the GDP deflator as it includes the prices of all domestically produced goods and services.  

But it will not be included in the CPI as the industrial robots are not purchased by consumers in households, they are not consumer goods.

8 0
4 years ago
Sunland Inc. has conducted the following analysis related to its product lines, using a traditional costing system (volume-based
Tanya [424]

Answer:

<h2>a. Traditional Cost</h2>

Product 540X

= Revenue - Cost

= 200,000 - 53,000

=$147,000

Product 137Y

= 162,000 - 48,000

= $114,000

Product 249S

= 92,000 - 25,000

= $67,000

<h2>B. ABC Costing</h2>

Product 540X

= Revenue - Cost

= 200,000 - 47,100

=$‭152,900‬

Product 137Y

= 162,000 - 29,000

= $‭133,000‬

Product 249S

= 92,000 - 49,900

= $‭42,100‬

c.

Difference in Income for 540X

= \frac{Income under ABC - Income under Traditional costing}{Income under Traditional costing} \\\\= \frac{152,900 - 147,000}{147,000} \\\\= 0.0401

= 4.01%

Difference in Income for 137Y

= \frac{Income under ABC - Income under Traditional costing}{Income under Traditional costing} \\\\= \frac{133,000 - 114,000}{114,000} \\\\= 0.1667

= 16.67%

Difference in Income for 249S

= \frac{Income under ABC - Income under Traditional costing}{Income under Traditional costing} \\\\= \frac{42,100 - 67,000}{67,000} \\\\= -0.3716

= -37.16%

6 0
3 years ago
Other questions:
  • Ship Co. produces storage crates that require 1.2 meters of material at $.85 per meter and 0.1 direct labor hours at $15.00 per
    14·1 answer
  • Abigail's hobby is sculpting. During the current year, Abigail sold three of her sculptures for a total of $3,200. Her related e
    13·1 answer
  • The bullet train's projected $2.8-billion price increase will be funded by cutting spending on other public works project. This
    8·1 answer
  • ____________ technique in business analytics categorizes, characterizes, consolidates, and classify data to convert it into usef
    14·1 answer
  • Select the correct answer.
    12·2 answers
  • Stockholders' equity totaled $94,000 at the beginning of the year. During the year, net income was $24,000, dividends of $9,000
    11·1 answer
  • What do you think makes an engaging public speaker? Explain your answer. in 4-5 sentences.
    12·2 answers
  • the _____ principle states that inventory costs are expensed as cost of goods sold when inventory is sold.
    14·2 answers
  • List out the tasks of an overseer.​
    9·1 answer
  • Effective sales management begins with _______. determining sales goals to be met by the sales force determining the most effici
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!