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sweet [91]
2 years ago
10

Sunk costs:

Business
1 answer:
Vika [28.1K]2 years ago
8 0

Answer:

The correct answer to the following question is option C) this cost is ignored when evaluating alternatives .

Explanation:

Sunk cost which is also know as retrospective cost, where it can be described as a cost that business has already incurred and this cost cannot be recovered . These cost are usually ignored when decisions regarding future business are being taken , the reason behind this that the business will have to incurred this cost and it will remain the same no matter what decision is being taken .

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Inventory records for Marvin Company revealed the following:
lbvjy [14]

Answer:

Ending inventory= $5,592.45

Explanation:

Giving the following information:

Mar. 1: Beginning inventory= 1,090 units at $7.25

Mar. 10: Purchase: 510 units at $7.75

Mar. 16: Purchase: 397 units at $8.35

Mar. 23: Purchase: 510 units at $9.05

First, we need to calculate the number of units in ending inventory:

Ending inventory in units= total units - units sold

Ending inventory in units= 2,507 - 1,880= 627

Under FIFO (first-in, first-out), the ending inventory is composed of the cost of the last units bought.

Ending inventory= 510*9.05 + 117*8.35= $5,592.45

6 0
3 years ago
The mission statement of your business should contain all of the following elements except the
Zarrin [17]
C. expected profit margins
the mission statement provides information about the company as to who, why and how they plan to operate
7 0
3 years ago
Read 2 more answers
Engler Company purchases a new delivery truck for $55,000. In addition, the sales taxes are $4,000. Engler also paints on the lo
uysha [10]

Answer:

$61,390

Explanation:

Calculation to determine What does Engler record as the cost of the new truck

Using this formula

Cost of new truck=Purchase price+Sales tax, painting +Logo on the side of the truck +Safety testing +Tune up and oil change

Let plug in the formula

Cost of new truck=$55,000 + $4,000 + $1,600 + $290 +$500

Cost of new truck= $61,390

Therefore what Engler will record as the cost of the new truck is $61,390

6 0
3 years ago
You have a loan outstanding. It requires making three annual payments at the end of the next three years of $3000 each. Your ban
Oksana_A [137]

Answer:

The final payment would be of amount $9000

Explanation:

The keywords of the question state that the bank needs an equal amount of money by both of the payment procedures. Hence, no matter which payment method I choose on the outstanding loan, the bank would need a sum of 3x3000 = $9000

5 0
3 years ago
On May 3, 2020, Culver Company consigned 60 freezers, costing $470 each, to Remmers Company. The cost of shipping the freezers a
Mnenie [13.5K]

Answer:

a) Valuation of Ending Inventory

The total cost of consignment = $28980

Cost of Freezers= 60 freezers *$470= $28200

Shipment Costs $ 780

Per unit Cost of Consignment= $28980 / 60= $ 483

The inventory value of the units unsold in the hands of the consignee

= (60 units - 30 units )* 483= $ 14490

b) Profit for the Consignor

Sales 30 units at $800                                      $24000

<u>CGS 30 units at 483                                         14490 </u>

<u>Gross Profit                                                         9510 </u>

Less

Advertising $200

Total installation costs $350

<u>Commision 6% of 24000= $ 1440                     1990 </u>

<u>Net Profit                                                           $7520 </u>

<u />

<u>c) Remittance was made of $7520 </u>

4 0
3 years ago
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