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yan [13]
3 years ago
14

A company's Inventory balance at 12/31/16 was $188,000 and $200,000 at 12/31/15. Its Accounts Payable balance at 12/31/16 was $8

4,000 and $80,000 at 12/31/15, and its cost of goods sold for 2016 was $720,000. The company's total amount of cash payments for merchandise in 2016 equals:1) $728,000.2) $712,000.3) $704,000.4) $720,000.5) $736,000.
Business
1 answer:
slava [35]3 years ago
8 0

Answer:

3) $704,000

Explanation:

The procedure will be as follow:

Based on the company's inventory we will determinate the purchases.

And then, with the account payable balance, the cash payment

<u>First, purchases amount:</u>

beginning inventory + purchase = ending inventory + COGS

200,000 + purchase = 188,000 + 720,000

<em>purchases</em> = 720,000 + 188,000 - 200,000 = 708,000

<u>Now, we solve for payment to suppliers</u>

begging AP + purchase - payment = ending

80,000 + 708,000 - payment = 84,000

payment = 80,000 + 708,000 - 84,000

payment= 704,000

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7 0
2 years ago
Iaci Company makes two products from a common input. Joint processing costs up to the split-off point total $42,000 a year. The
eimsori [14]

Questions

Iaci Company makes two products from a common input. Joint processing costs up to the split-off point total $42,000 a year. The company allocates these costs to the joint products on the basis of their total sales values at the split-off point. Each product may be sold at the split-off point or processed further. Data concerning these products appear below: Product X Product Y Total Allocated joint processing costs $22,400 $19,600 $42,000 Sales value at split-off point $32,000 $28,000 $60,000 Costs of further processing $11,600 $25,300 $36,900 Sales value after further processing $44,800 $53,200 $98,000 Required: (a) What is the net monetary advantage (disadvantage) of processing Product X beyond the split-off point?

Answer:

Net advantage from further processing  $1,200<u> </u>

Explanation:

A company should process further a product if the additional revenue from the split-off point is greater than than the further processing cost.  

Also note that all the joint costs incurred up to the split-off point are irrelevant to the decision to process further any of the .

Net monetary advantage of product X

                                                                                              $

Sales revenue after the split-off point                          44,800

Sales revenue at the split-off point                             <u>  (32,000)</u>

Additional sales revenue                                                  12,800

Further processing cost                                                    <u>(11,600)</u>

Net advantage from further processing                         <u>     1,200 </u>

Net advantage from further processing  $1,200<u> </u>

4 0
3 years ago
Bruno &amp; Court is a nonprofit organization that captures stray deer bewildered within residential communities. Fixed costs ar
Nadusha1986 [10]

Answer:

3,300 deer

Explanation:

Total funds available to meet the entire cost of capturing stray deer = $48,000

This represents the total funds available as the Bruno & Court is a non profit organisation, it needs funding and as provided in the given case total funds available are $48,000 through local philanthropy.

Associated fixed cost in this activity = $15,000

Thus, maximum variable cost shall be = $48,000 - $15,000

= $33,000

Variable cost per deer = $10

Total number of deer to be captured = $33,000/$10 = 3,300 deer

4 0
3 years ago
The U.S. Department of Agriculture guarantees dairy producers that they will receive at least $1.00 per pound of butter they sup
Roman55 [17]

the price is 546

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3 0
3 years ago
Hilary owns and operates a store in a country experiencing a high rate of inflation. Each day, some of her employees spend time
kupik [55]

Answer:

Menu costs of inflation

Explanation:

Menu costs are the costs incurred by the firms. Menu costs refers to the cost of changing the list price of the products at the shop or changing the price tag on the products. This cost included in the price of the product because time and money both are used in changing the price tags or list price. Hence, there will be a rise in the prices of goods and therefore, the economy experiencing a high rate of inflation.

6 0
3 years ago
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