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
bezimeni [28]
3 years ago
13

1. Albacore Corporation purchased a new machine costing $27,600 on January 1, 2017. The machine is expected to have a $1,800 sal

vage value at the end of its useful life of six years.What is the depreciation expense that Albacore Corporation records for 2017 using the straight line method?
Business
1 answer:
docker41 [41]3 years ago
7 0

Answer:

Annual depreciation= $4,300

Explanation:

Giving the following information:

Purchasing price= $27,600

Salvage value= $1,800

Useful life= 6 years

To calculate the depreciation expense using the straight-line method, we need the following formula:

Annual depreciation= (original cost - salvage value)/estimated life (years)

Annual depreciation= (27,600 - 1,800) / 6= $4,300

You might be interested in
First​ Class, Inc., expects to sell 26 comma 000 pool cues for $ 13.00 each. Direct materials costs are $ 2.00​, direct manufact
Nastasia [14]

Answer:

$231,140

Explanation:

The computation of the amount reported in the cost of goods sold is shown  below:

= Number of pool cues sold × total manufacturing cost per pool cue

where,

Number of pool cues sold would be 26,000 pool cues

And, the total manufacturing cost per pool cue would be

= Direct Materials per cue + Direct manufacturing Labor per cue + Manufacturing Overhead per cue

= $2 + $6 + $0.89

= $8.89

Now put these values to the above formula

So, the value would be equal to

= 26,000 cues × 8.89

= $231,140

6 0
3 years ago
Use the following information to answer the next question. Harvey quit his job at State University where he earned $45,000 a yea
algol [13]

Answer: Option(a) is correct.

Explanation:

Total Revenue = Units sold × price per unit sold

                        = 11,000 × $75

                        = $825,000

Explicit cost = Units sold × cost per unit

                    = 11,000 × $55

                    = $605,000

Implicit cost = Earning at state university + Entrepreneurial talent + cash bonds at 10% interest

                    = $45000 + $5,000 + ($100,000 × 10%)

                    = $60,000

Economic profits = Total Revenue - (Explicit cost + Implicit cost)

                            = $825,000 - ($605,000 + $60,000)

                            = $825,000 - $665,000

                            = $160,000

7 0
3 years ago
The relation resulting from mapping a weak entity (with a 1:M identifying relationship) has a composite primary key that is comp
Natali [406]

Answer:

(A) True

Explanation:

5 0
3 years ago
Fultz Company has accumulated the following budget data for the year 2020.
SCORPION-xisa [38]

Assuming the direct materials is 1 pound , the cost of goods sold is $2,053,920 and the income statement is: $339,248.

<h3>Cost of goods sold</h3>

Cost of goods sold for 2017

Cost of one unit of finished goods:

Direct materials $6

Direct labor $36

(3×$12)

Manufacturing overhead $24

(3×$8)

Total $66

Cost of goods sold $2,053,920

($66×31,120)

Budgeted multi-step income statement for 2017:

Sales revenue $2,738,560

($88×31,120)

Less cost of goods sold $2,053,920

Gross profit $684,640

Less selling and administrative expense $170,000

Income from operation before interest and tax $514,640

($684,640-$170,000)

Less interest expense $30,000

Profit before tax $484,640

($514,640-$30,000)

Less income tax expense $145,392

(30%×$484,640)

Profit after tax $339,248

($484,640-$145,392)

Inconclusion the cost of goods sold is $2,053,920 and the income statement is: $339,248.

Learn more about cost of goods sold here:brainly.com/question/24561653

5 0
2 years ago
The condition that results from society not having enough resources to produce all things people would like to have is known as
cricket20 [7]
The answer would be B. Scarcity
7 0
3 years ago
Other questions:
  • An increase in the demand for the Canadian dollar will lead to
    9·1 answer
  • Which behavior demonstrates courtesy toward others in the workplace?
    10·1 answer
  • produces considerable inefficiency in the use of scarce resources. effectively harnesses the incentives of workers and entrepren
    6·1 answer
  • Should underperforming restaurants be closed or sold?
    10·1 answer
  • greene co. has pretax book income for the year ended december 31, 2019 in the amount of 265000 and has a tax rate of 30%. Deprec
    9·1 answer
  • The company XOXO is specialized in producing treadmills. The company allocates manufacturing overhead based on direct labor hour
    14·1 answer
  • A company's days' cash on hand is computed by dividing:​ Group of answer choices ​cash and short-term investments by daily cash
    10·1 answer
  • Using the data below, determine the ending inventory amount assuming the weighted average method with a periodic inventory syste
    11·1 answer
  • Nick and Sheila Preston are married and have purchased a comprehensive major medical policy which covers them and their two sons
    10·1 answer
  • How can creative ideas become business opportunities?
    12·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!