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3 years ago

Approximately what portion of our nation's total production is made up of consumer goods?

1 answer:

5 0

It has been estimated and has been researched that the nation’s total production has consist of consumer products which are about seventy percent as they are more than half of the percentage; the consumers where able to consume seventy percent of the nation’s production or products.

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Peck corporation, a foreign subsidiary was acquired by a U.S. corporation on January 1, 2020. Determine the exchange rate used t

taurus [48]

Answer:

Land, Equipment, and Inventory will be restated on the closing date i.e. December 31, 2020. The rate of the currency exchange from local to foreign currency for equipment is on the day of purchase which is February 1, 2020.

Explanation:

1-Balance sheet items are restated on the closing date.

2-P & L items are restated on the transaction date.

As the items Land, Equipment and Inventory are all the balance sheet items, thus they will be stated on the closing date i.e. December 31, 2020.

Furthermore, the functional currency is foreign currency. Since the equipment is purchased in the domestic currency it has to be translated into the foreign currency at the rate as on the date of purchase i.e; February 1, 2020.

3 0

3 years ago

Determine the single plantwide factory overhead rate, using each of the following allocation bases: (a) direct labor hours and (

Fofino [41]

Answer and Explanation:

The direct labor overhead rate using the direct labor hours is shown below:-

Direct labor overhead rate = Total overheads ÷ Direct labor hours

= $220,800 ÷ 1,725

= $128

b. The machine hour overhead rate using the machine hours is

= Total overhead ÷ Machine hours

= $220,800 ÷ 4,600

= $48

The factory overhead costs using direct labor hour is

Particulars Automobile Valve Wheels Total

bumpers covers

Direct labor

hours 730 480 515

Overhead rate $128 $128 $128

Total $ 93,440 $61,440 $65,920 $220,800

For determining the total overhead we simply multiply the direct labor hours with overhead rate.

The factory overhead costs using machine hour is

Particulars Automobile Valve Wheels Total

bumpers covers

Machine hours 1,970 1,270 1,360

Overhead rate $48 $48 $48

Total overhead $94,560 $60,960 $65,280 $220,800

For determining the total overhead we simply multiply the machine hours with overhead rate.

7 0

3 years ago

A company issues $50 million of bonds at par on January 1, 2018. The bonds pay 10% interest semi-annually on 12/31 and 6/30 and

marysya [2.9K]

Answer: Please see explanation for answer

Explanation:

Journal entry to record sale of bonds

Account titles Debit Credit

Cash $50,000,000

Bonds Payable $50,000,000

4 0

3 years ago

Ethan is planning for his retirement. He has narrowed it down to two investment options. The first is an ira where monthly payme

vlada-n [284]

Answer:

IRA; $3,552.72

Explanation:

3 0

2 years ago

Agee Storage issued 33 million shares of its $1 par common stock at $21 per share several years ago. Last year, for the first ti

Tpy6a [65]

Answer:

$23 million

Explanation:

Calculation to determine at what amount will Agee’s total paid-in capital decline

First step is to calculate the Cash paid for the first repurchase

Cash paid for the first repurchase = 1 million * 19

Cash paid for the first repurchase = $19 million

Second step is to calculate the Value of first purchase

Value of first purchase = 1 million * 21

Value of first purchase = $21 million

Third step is to calculate the Benefit on first repurchase

Benefit on first repurchase = 21 million - 19 million

Benefit on first repurchase = $2 million

Fourth step is to calculate Cash paid for second repurchase

Cash paid for second repurchase = 1 million * 24

Cash paid for second repurchase = $24 million

Fifth step is to calculate the Value of second purchase = Reacquired shares * Common stock price

Value of second purchase = 1 million * 21

Value of second purchase = $21 million

Last step is to calculate the Decline in total paid-in capital using this formula

Decline in total paid-in capital= Benefit on first repurchase + Value of second purchase

Decline in total paid-in capital = 2 million + 21 million

Decline in total paid-in capital = $23 million

Therefore what amount will Agee’s total paid-in capital decline is $23 million

8 0

2 years ago