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Fed [463]
3 years ago
8

During its first year of operations, Silverman Company paid $7,000 for direct materials and $9,500 for production workers' wages

. Lease payments and utilities on the production facilities amounted to $8,500 while general, selling, and administrative expenses totaled $4,000. The company produced 5,000 units and sold 3,000 units at a price of $7.50 a unit. What is the amount of finished goods inventory on the balance sheet at year-end?
Business
2 answers:
r-ruslan [8.4K]3 years ago
5 0

Answer:

Closing Inventory would be standing at $10000

Explanation:

The cost that forms part of the cost of inventory are all those production costs that are necessary to convert it into finished goods which in this case is:

Production cost = All direct costs are production costs

And

All Direct Cost = $7000 Direct Mat + $9500 Production Workers Wages + $8500 Direct Utilities bills = $25000

And the production cost incurred was for 5000 units which means the unit production cost was $5 ($25000 / 5000 units).

So closing inventory value would be = 2000 closing inventory units * $5

= $10000

evablogger [386]3 years ago
4 0

Answer:

The amount of finished goods inventory on the balance sheet at year-end would be $10,000

Explanation:

Cost making different part of the cost of inventory are the cost use to make all those production costs that are necessary for the purchase of materials to make them into finished goods which we have in these case as;

Cost production = All direct costs use for production

These cost includes

All Cost of production = $7000 + $9,500+ $8500 = $25000

And the production cost is for 5000 units meaning production cost was which we have as

=$25000 / 5000

=5$

Therefore closing inventory value which would be = 2000×5

= $10000

The amount of finished goods inventory on the balance sheet at year-end would be $10,000

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Larry Nelson holds 1,000 shares of General Electric common stock. The annual shareholders meeting is being held soon, but as a m
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Answer:

Larry must have signed a <u>PROXY AGREEMENT</u> that gives the management group control over his shares.

A proxy agreement is generally used for stockholders voting procedures, they basically grant another person the right to vote on behalf of another stockholder.

Larry's current investment in the company is <u>$86,000</u>.

= 2,000 stocks x $43 = $86,000

If the company issues new shares and Larry makes no additional purchase, Larry's investment will be worth <u>$82,560</u>.

company's new market value = (20,000 x $43) + (5,000 x $34.40) = $1,032,000

new stock price = $1,032,000 / 25,000 stocks = $41.28

= $41.28 x 2,000 = $82,560

This scenario is an example of <u>STOCK DILUTION</u>.

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Larry could be protected if the firm's corporate charter includes a <u>PREEMPTIVE</u> provision.

Preemptive rights give current stockholders the right to purchase more stocks (in case the company issues more stocks) before any outside investors.

If Larry exercises the provisions in the corporate charter to protect his stake, his investment value in the firm will become <u>$103,200</u>.

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5 0
3 years ago
If a company is using the accrual basis accounting method, when should it record its earned revenue?
BigorU [14]

Answer: b

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3 years ago
Means of production include:
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Answer:

A

Explanation:

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3 years ago
Given a prior forecast demand value of 1,100, a related actual demand value of 1,000, and a smoothing constant alpha of 0.3, wha
Korvikt [17]

Answer:

1,030

Explanation:

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Therefore the exponential smoothing forecast value will be 1,030

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